NOTIFICATION

S.R.O. 435 (I)/2023.- In exercise of the powers conferred by sub-section (2) of section 167 of the Insurance Ordinance (XXXIX of 2000) read with clause (a) of sub-section (3) of section 36, the Securities and Exchange Commission of Pakistan, with the approval of the Policy Board, is pleased to make the following amendments to the Insurance Rules, 2017, the same having been previously published for public opinion in the official Gazette through S.R.O. 2006(I)/2022 dated November 1, 2022.

AMENDMENTS

In the aforementioned Rules, for clause (c) of sub-rule (1) of rule 15, the following new clause shall be substituted, namely:

“(c) for non-life digital-only insurer:

(i) Rupees fifty million till December 31, 2024; and

(ii) Rupees seventy-five million thereafter.”

___________________________________________________________________________ [File No. ID/PRDD/DI/2022]

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Issued under

Insurance Ordinance (XXXIX of 2000)Not in RegAlert
“In exercise of the powers conferred by sub-section (2) of section 167 of the Insurance Ordinance (XXXIX of 2000)”

SRO 435(I)/2023: Amendment to Insurance Rules, 2017 Regarding Digital Insurers

NOTIFICATION

AMENDMENTS

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