Regulatory Alerts2004-05-31
Added
Dispensation Requirements
The Registrar of Long-Term Insurance establishes a template and procedure for life offices applying for dispensation to place reinsurance premiums with foreign insurers or reinsurers. Applications must include specific details such as the risk type, reinsurance type, motivation, and proof that local reinsurers cannot meet the terms, and must be submitted at least 14 working days before the effective date. No Captive Insurance or Reinsurance arrangements are eligible for dispensation, and placing risks outside Namibia without written authorization is illegal. Proposed amendments to the guidelines must be submitted to the Registrar by July 16, 2004.
More like this from NAMFISA
We email you every new NAMFISA publication the day it's published.