Compulsory Membership – Life Assurer's Association of Namibia

NAMFISA NAMIBIA FINANCIAL INSTITUTIONS SUPERVISORY AUTHORITY

• Safeguarding the Nation's Wealth! -

April 30, 2003

TO: ALL LONG-TERM INSURER'S PRINCIPAL OFFICERS & MANAGING DIRECTORS

CIRCULAR: PI/LT/1/2003

Dear Sir/Madam

RE: COMPULSORY MEMBERSHIP – LIFE ASSURER'S ASSOCIATION OF NAMIBIA (LAAN)

The Registrar of the Long-term Insurer's recognizes the role of LAAN in the overall organization and nurturing of the Life Assurance Industry, since the inception of the association.

There is a need that this interactive approach that co-exists between the Life Assurance Industry Executives and the Registrar of Long-term Insurer's is further strengthened, in order to ensure continuous synergy. It is against this background that the Registrar invites all Long-term Insurer's that are still non-members, to approach LAAN Secretariat and register for membership.

In order to have a smooth execution and compliance, a grace period of sixty (60) days is granted, in which non-members must join LAAN. After the grace period has expired, LAAN will be regarded as the official voice of the Life Assurance Industry, in all future negotiations and dealings with the Registrar of any nature.

Yours truly,

Marcelina Gaoses General Manager: Provident Institutions FOR REGISTRAR: LONG-TERM INSURER'S

• P.O. Box 21250 Windhoek NAMIBIA • 154 Independence Avenue • 8th Floor, Sanlam Centre • Tel: (+264 61) 290 5000 • Fax: (+264 61) 256303 • E-Mail: info@namfisa.com.na