Regulatory Alerts2023-12-28
Added · Updated
Circular No. 18 of 2023 Amendments in the Circular No. 24 of 2010-Reinsurance/Re-takaful Treaty Arrangements
The Securities and Exchange Commission of Pakistan extends the relaxation provided to non-life insurers and takaful operators regarding their treaty arrangements for the year 2024. This extension applies until further notice and builds upon the relaxation originally granted in Circular 2 of 2023. The directive is distributed to the chief executive officers of all non-life insurance companies and takaful operators.
Securities and Exchange Commission of Pakistan
(Insurance Division)
Circular No. 18 of 2023
Islamabad, December 6, 2023
SUBJECT: AMENDMENTS IN THE CIRCULAR 24/2010 – REINSURANCE/ RETAKAFUL TREATY ARRANGEMENTS - 2011
Attention is invited towards Circular 2 of 2023 pertaining to the subject matter.
Relaxation provided to the non-life insurers and takaful operators in the Circular 2 of 2023 dated March 3, 2023 for their treaty arrangements is hereby extended for the year 2024 until any further notice in this regard.
Aamir Khan
Commissioner – Insurance
Distribution:
- Chief Executive Officers of all non-life Insurance Companies and takaful operators
- Chairman (Insurance Association of Pakistan)
- President (Institute of Chartered Accountants of Pakistan)
- President (Institute of Cost & Management Accountants of Pakistan)