Regulatory Alerts2024-02-20
Added · Updated
Proposed Amendments to the Long-Term Insurance Regulations
The Namibia Financial Institutions Supervisory Authority has issued proposed amendments to the Long-Term Insurance Regulations to modernize investment limits and broaden permissible asset classes for registered insurers and reinsurers. The amendments introduce hedge funds, private equity, and derivative instruments as distinct categories, increase the unlisted investment ceiling to five percent, and remove the prior requirement for Registrar approval on investment reclassifications. These changes ensure portfolio diversification, align Namibian prudential standards with regional peers, and mandate that unlisted investments primarily finance local portfolio companies to stimulate domestic economic growth.
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