Regulatory Alerts2023-06-14
Regulation No. 70/2023 on Market Exit and Resolution Procedures for Insurers
The National Bank of Rwanda issued Regulation No. 70/2023 to standardize procedures for the voluntary and forced market exit of insurers. The regulation defines resolution triggers, including capital shortfalls and failed recovery measures, while empowering the supervisory authority to appoint special administrators and deploy tools such as portfolio transfers and run-off processes. It mandates policyholder protection, financial stability safeguards, and precise asset valuation protocols to ensure orderly liquidation with minimal public funding reliance.
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