Regulatory Alerts2021-10-07
Regulation No 39/2021 on Accreditation and Requirements for Appointed Actuaries in Insurance and Pension Schemes
The National Bank of Rwanda issued Regulation No 39/2021 to establish accreditation standards and operational requirements for actuaries appointed by insurers and pension schemes. The regulation mandates accredited actuarial firms to submit detailed applications, pay a non-refundable fee of 200,000 Rwandan francs, and maintain professional indemnity insurance while ensuring independence and fit-and-proper status. It further defines the actuaries' core duties, including conducting statutory valuations, issuing actuarial opinions and financial condition reports, and subjecting them to annual reviews, quality assurance monitoring, and disciplinary sanctions or accreditation revocation.
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