Regulatory Alerts2021-11-10
Added · Updated
INS-S-2-14 Voluntary Cancellation of Insurers and Reinsurers Registration
The Namibia Financial Institutions Supervisory Authority (NAMFISA) issued Standard INS-S-2-14 to establish the procedural requirements for registered insurers and reinsurers seeking voluntary cancellation or class variation of their registration. Applicants must submit designated forms, board resolutions, proof of fee payment, and published newspaper notices confirming that all policy liabilities will be adequately discharged. Following NAMFISA’s review and prior written approval, the cancellation becomes effective on the designated date, permitting the entity to cease operations or continue with remaining business classes.