Regulatory Alerts2017-03-28
Added
Notice of Industry Consultation on Amendment of NAMFISA Levy Structure
The Namibia Financial Institutions Supervisory Authority invites comments from the insurance sector on proposed amendments to its levy structure, including annexures detailing principles for levy setting and a draft gazette notice. The consultation requires stakeholders to submit annotations to the General Manager: Insurance by 21 April 2017 and attend an industry consultation meeting scheduled for 18 May 2017. The attached draft gazette proposes specific annual levy rates based on gross premium income or total assets for various financial institutions, such as 0.300% for long-term insurers and 0.569% for short-term insurers, with payments due in three installments throughout the financial year.
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