Regulatory Alerts2022-01-10
Added · Updated
Interpretation of Investment Limits Under Regulation 15 of the Long-Term Insurance Act
The Namibia Financial Institutions Supervisory Authority has issued a circular clarifying how registered long-term insurers and reinsurers must calculate their investment limits under Regulation 15 of the Long-Term Insurance Act. The directive mandates that Regulation 15(1) limits apply exclusively to policyholder assets, while Regulation 15(2) domestic investment requirements cover total assets including shareholder funds, and unlisted investments must constitute 1.75 to 3.5 percent of market value in Namibian unlisted equity or debt capital. Insurers and reinsurers must adjust their reporting practices to separate policyholder from shareholder assets for accurate compliance, replacing previous total balance sheet assessments effective February 2022.