Regulatory Alerts2021-11-10
Added · Updated
INS-S-2-12 Soundness Financial Position for Registered Insurers and Reinsurers
The Namibia Financial Institutions Supervisory Authority issued Standard INS-S-2-12 to define the criteria for a sound financial position applicable to all registered long-term and short-term insurers and reinsurers. Entities must demonstrate that assets exceed liabilities, satisfy prescribed capital adequacy or solvency margins, and maintain appropriate technical provisions alongside compliant internal risk management and corporate governance frameworks. Compliance with these interconnected financial and operational benchmarks ensures that registered entities can reliably meet their obligations to policyholders, clients, and the public.