Regulatory Alerts2014-03-04
Added
Retraction of exemption in terms of sub-regulation 15(6) of Regulation 15
The exemption granted by written application to the provisions of sub-regulation 2(1A) to 2(1F) of Regulation 15, originally issued on 12 December 2008, is revoked and withdrawn with effect from 4 March 2014. This action applies to all registered insurers and reinsurers. The Registrar of Long-Term Insurance requires full cooperation from all industry players and stakeholders in this process.
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the Exemption issued in terms of sub-regulation 15(6) of Regulation 15 dated 12 December 2008 is hereby revoked and withdrawn with effect from the Effective Date stated above.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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