Regulatory Alerts2021-11-10
Added · Updated
Registration of Corporate Agents (INS-S-2-11)
The Namibia Financial Institutions Supervisory Authority issued Standard INS-S-2-11 to establish the registration and ongoing compliance framework for corporate bodies acting as insurance agents under the Financial Institutions and Markets Act, 2021. Applicants must submit completed registration and fit-and-proper forms alongside supporting corporate documents, while maintaining an approved code of conduct and ensuring employee competency assessments. Registered corporate agents are required to pay an annual fee of N$1,000, submit financial returns within ninety days of year-end, and promptly notify the regulator of any changes to contact details, registered names, or industry movements.