Regulatory Alerts2026-05-08
Added · Updated
Standards Under The Financial Institutions and Markets Act 2021: Insurance
The Namibia Financial Institutions Supervisory Authority has issued Standard No. INS.S.2.1 to mandate capital adequacy requirements for all registered insurers and reinsurers. The standard establishes fixed Minimum Capital Requirement floors and dynamic Solvency Capital Requirements calculated via risk-based formulas, ensuring entities hold sufficient admissible assets to cover technical liabilities. Registered entities must report compliance quarterly and annually through the electronic regulatory system, with mandatory seven-day breach notifications, thirty-day remedial action plans, and N$25,000 monthly penalties for sustained non-compliance.
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