Regulatory Alerts2020-02-01
Composition of Share Capital or Establishment Funds
The Central Bank of the Republic of Guinea issued Instruction N°I/02/19/REA on June 24, 2019, outlining requirements for the composition of share capital or establishment funds for insurance companies and branches. It mandates that any approved insurance or mutual company must have at least 20% of its capital or establishment fund held by one or more insurers or reinsurers. The instruction also details a comprehensive classification of insurance operations into various non-life (IARD) and life branches, specifying the types of risks covered under each for approval purposes.
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