Regulatory Alerts2014-03-04
Added
Registration of Principal Officers
Registered long-term and short-term insurance agencies and brokerage firms, including close corporations, must appoint a fit and proper natural person as their principal officer in Namibia by 31 May 2014. Unless the Registrar determines otherwise in exceptional circumstances, the appointed principal officer must be a Namibian citizen. These entities must also comply with the provisions of section 19 of the Long-term Insurance Act and the Short-term Insurance Act regarding the principal officer, as applied mutatis mutandis.
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