Regulatory Alerts2021-11-10
Added · Updated
Voluntary Cancellation of Broker Registration (INS-S-2-17)
The Namibia Financial Institutions Supervisory Authority (NAMFISA) issued Standard INS.S.2.17 to govern the voluntary cancellation or variation of registration for registered insurance and reinsurance brokers. Applicants must submit completed application forms, publish a statutory newspaper notice, provide proof of settled client obligations and liabilities, and pay the required fee to secure prior written approval. Submissions may be filed manually or electronically via the NAMFISA Electronic Regulatory System, with incomplete applications granted a seven-day remediation period before the broker's registration officially ceases on a regulator-determined date.