Foreign Insurance and Reinsurance Exemption Applications

NAMFISA
NAMIBIA FINANCIAL
INSTITUTIONS SUPERVISORY AUTHORITY

Enquiries: Mr K Urikhob

2 September 2015

To: All the Principal Officers of reinsurance and insurance companies All the Principal Officers of insurance brokers Namibia Insurance Association (NIA), Namibia Insurance Brokers Association (NIBA),

Dear All,

APPLICATIONS: FOREIGN INSURANCE AND REINSURANCE EXEMPTION

Our previous communication dated 29 May 2015 in respect of the above matter refers.

Take note that the requirement for exemption/dispensation applications to be accompanied by quotations from all registered insurers and reinsurers is only applicable from all registered insurers or reinsurers registered to conduct business in respect of the class of short-term insurance for which the exemption application is required, as indicated below. Therefore, if for example, the insurance or reinsurance exemption application pertains to marine insurance cover and only 10 of the registered insurers or reinsurers are registered to provide marine insurance cover, then quotations from the 10 registered insurers or reinsurers which are registered to provide marine insurance will be sufficient.

LIST OF REGISTERED SHORT-TERM INSURERS/REINSURERS
NO.	LICENSE	NAME OF INSURANCE ENTITY	CLASSES REGISTERED FOR
1.	98/ST/01	Outsurance Insurance Company of Namibia Ltd	All 8 classes
2.	99/ST/03	Old Mutual Short-Term Insurance Company (Namibia) Ltd	All 8 classes
3.	98/ST/05	Santam Namibia Ltd	All 8 classes
4.	98/ST/06	Corporate Guarantee and Insurance Company of Namibia Ltd	All 8 classes
5.	00/ST/09	Nasria	All 8 classes
6.	00/ST/13	Trustco Insurance Ltd	All 8 classes
7.	03/ST/14	Hollard Insurance Ltd	All 8 classes
8.	03/ST/15	Alexander Forbes Insurance Company Ltd	All 8 classes
9.	04/ST/16	Western National Insurance company Ltd	All 8 classes
10.	06/ST/18	Prosperity Insurance Ltd	All 8 classes
11.	08/ST/20	Ripley's Insurance Ltd	currently dormant 1 class: Miscellaneous

			Miscellaneous
13.	15/ST/29	Quanta Insurance Ltd	All 8 classes
14.	15/ST/30	Phoenix Namibia Assurance Company Ltd	All 8 classes
15.	01/ST/07	Namibia National Reinsurance Corporation Limited	All 8 classes

The quotations from the above-mentioned insurers and reinsurers should specifically indicate whether the insurer or reinsurer is willing to participate in co-insurance and underwrite a portion of the risk.

We trust that you will find the above in order but should you require any additional information, please do not hesitate to contact Mr. K. Urikhob at +264-061-290 5148 or email: kurikhob@namfisa.com.na.

Yours sincerely,

L. Grace Mohamed
General Manager: Insurance Division
FOR THE REGISTRAR OF SHORT-TERM INSURANCE

Tel: +264 61 290 5000, Fax: +264 61 290 5157, PO Box 21250, Windhoek, Namibia, 154 Independence Ave, Sanlam Centre, www.namfisa.com.na