Regulatory Alerts2021-11-10
Added · Updated
Registration of Lloyd's Intermediaries (INS-S-2.16)
The Namibia Financial Institutions Supervisory Authority (NAMFISA) issued Standard INS-S-2.16 to establish the registration, operational requirements, and statutory duties for Lloyd’s intermediaries in Namibia. The framework requires applicants to maintain active insurance broker status and directs Lloyd’s representatives to submit approved broker lists, appointment agreements, and fees to finalize registration. Additionally, registered intermediaries must secure NAMFISA approval for cross-border premium transfers via a designated schedule, comply with specific Act provisions, and apply plain language standards in all policyholder communications.