Circular No. 9 of 2025 - Annual Submission of Reinsurance Treaties

Circular No. 9 of 2025
Date: 06th August, 2025
Annual Submission of Reinsurance Treaties
The Financial Services Authority (“FSA”) would like to draw the attention of all its licensed insurance companies under the Insurance Act, 2008 (“the Act”), that in accordance with regulatory requirements for the purposes of supervision, risk assessment, and market conduct, all licensed insurance companies are required to submit copies of its reinsurance treaties in line with section 21 of the Act. Therefore, licensed insurance companies are hereby reminded that they are required to submit copies of all in-force reinsurance treaties, including:
 Proportional treaties (Quota Share, Surplus)  Non-proportional treaties (Excess of Loss – per risk, per event, aggregate)  Facultative reinsurance arrangements  Treaty wordings and schedules  Retention levels and limits of cover  Lines of business covered under each treaty  Signed slip or cover notes (where final contracts are pending)  List of participating reinsurers and their respective shares  Ratings of the reinsurers  Effective dates and duration of treaties The documents shall be submitted by or before March 31st of each year to the FSA on the following email:
igp.supervision@fsaseychelles.sc
Please be advised that non-compliance is deemed an offence pursuant to the Insurance Act, 2008 and the Authority reserves the right to take such enforcement actions as it deems necessary for such failure by a licensed insurance company. We appreciate your continued cooperation. Financial Services Authority