Regulatory Alerts2014-07-09
Added · Updated
Registration of Principal Officers for Insurance Intermediary Firms
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, who must be a Namibian citizen unless the Registrar determines otherwise. These firms are required to apply the principles of section 19 of the Long-term Insurance Act and the Short-term Insurance Act regarding the principal officer. This directive replaces Directive Letter I/STI & LTI/03/2014 and became effective on 9 July 2014.
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