Retraction of exemption in terms of sub-regulation 15(6) of Regulation 15 — NAMFISA — NA

4 March 2014

To: Principal Officers - All registered insurers and reinsurers Chairperson - LAAN

CIRCULAR LETTER: LTI/03/2014

Effective date: 4 March 2014

SUBJECT: RETRACTION OF EXEMPTION IN TERMS OF SUB-REGULATION 15(6) OF REGULATION 15 ISSUED ON 12 DECEMBER 2008

This circular is issued with reference to the Exemption issued in terms of sub-regulation 15(6) of Regulation 15 dated 12 December 2008. The aforementioned Exemption referred to the granting by written application of an Exemption to the provisions of sub-regulation 2(1A) – 2(1F) of Regulation 15 until further notice.

The insurance industry is herewith informed that the Exemption issued in terms of sub-regulation 15(6) of Regulation 15 dated 12 December 2008 is hereby revoked and withdrawn with effect from the Effective Date stated above.

The Registrar therefore requires full cooperation and support in this process by all industry players and stakeholders at large. Should you still need more clarity, please do not hesitate to contact either the Long-term Insurance manager.

Phillip N. Shiimi
CEO of NAMFISA and Registrar of Long-Term Insurance

Tel: +264 61 290 5000, Fax: +264 61 290 5157, PO Box 21250, Windhoek, Namibia, 154 Independence Ave, Sanlam Centre, www.namfisa.com.na

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Supersedes

dated 2008-12-12Not in RegAlert
“The insurance industry is herewith informed that the Exemption issued in terms of sub-regulation 15(6) of Regulation 15 dated 12 December 2008 is hereby revoked and withdrawn”