Saturday, 25 May 2019
BREAKING NEWS

Rwanda Insurance Industry Governance, Risk and Compliance Report 2019 – ResearchAndMarkets.com – Business Wire

DUBLIN–(BUSINESS WIRE)–The “Governance, Risk and Compliance – The Rwandan Insurance Industry” report has been added to ResearchAndMarkets.com’s offering.

“Governance, Risk and Compliance – The Rwandan Insurance Industry”, is the result of extensive research into the insurance regulatory framework in the Rwanda. It provides detailed analysis of the insurance regulations for life, property, motor, liability, personal accident and health, and marine, aviation and transit insurance. The report specifies various requirements for the establishment and operation of insurance and reinsurance companies and intermediaries.

The National Bank of Rwanda (Banque Nationale du Rwanda – BNR) supervises and regulates Rwandan insurance industry in Rwanda. The BNR was established in 1964, following the enactment of the law of April 24, 1964 and came into force from May 19, 1964. The competence rights of the BNR, its obligations and rights to regulate insurance industry are stipulated in the law. Regulation No. 06 of 2009, Regulation No. 12 of 2009, and Regulation No. 1 of 2010 regulates Rwandan insurance industry.

Key Takeaways

  • The Rwandan insurance industry is regulated by the BNR
  • Motor third-party liability insurance and professional indemnity insurance for insurance intermediaries are compulsory in Rwanda
  • 100% FDI is permitted in Rwandan insurance industry
  • Composite insurance is not permitted in the Rwandan insurance industry
  • Non-admitted insurance is not permitted in Rwanda with a few exceptions

Scope

  • The report covers details of the insurance regulatory framework in the Rwanda.
  • The report contains details of the rules and regulations governing insurance products and insurance entities.
  • The report lists and analyzes key trends and developments pertaining to the country’s insurance regulatory framework.
  • The report analyzes the rules and regulations pertaining to the establishment and operation of insurance businesses in the country.
  • The report provides details of taxation imposed on insurance products and insurance companies.

Reasons to Buy

  • Gain insights into the insurance regulatory framework in the Rwanda.
  • Track the latest regulatory changes, and expected changes impacting the Rwandan insurance industry.
  • Gain detailed information about the key regulations governing the establishment and operation of insurance entities in the country.
  • Understand key regulations and market practices pertaining to various types of insurance product.

Key Topics Covered:

1 INTRODUCTION

1.1 What is this Report About?

1.2 Definitions

2 GOVERNANCE, RISK AND COMPLIANCE

2.1 Legislation Overview and Historical Evolution

2.1.1 Latest Changes in Regulation

2.2 Legislation and Market Practice by Type of Insurance

2.2.1 Life insurance

2.2.2 Property insurance

2.2.3 Motor insurance

2.2.4 Liability insurance

2.2.5 Marine, aviation and transit insurance

2.2.6 Personal accident and health insurance

2.3 Compulsory Insurance

2.3.1 Professional indemnity insurance for insurance brokers, agents and loss adjusters

2.3.2 Motor third-party liability insurance

2.3.3 Social health insurance

2.4 Supervision and Control

2.4.1 International Association of Insurance Supervisors

2.4.2 National Bank of Rwanda

2.5 Non-Admitted Insurance Regulations

2.5.1 Overview

2.5.2 Intermediaries

2.5.3 Market practices

2.5.4 Fines and Penalties

2.6 Company Registration and Operations

2.6.1 Type of insurance organization

2.6.2 Establishing a local company

2.6.3 Foreign ownership

2.6.4 Types of license

2.6.5 Capital requirements

2.6.6 Solvency margin

2.6.7 Reserve requirements

2.6.8 Investment regulations

2.6.9 Statutory return requirements

2.6.10 Fee structure

2.7 Taxation

2.7.1 Insurance premium or policy taxation

2.7.2 Withholding taxes on premium paid overseas

2.7.3 Corporate tax

2.7.4 VAT

2.7.5 Captives

2.8 Legal System

2.8.1 Introduction

2.8.2 Access to court

2.8.3 Alternative dispute resolution

3 APPENDIX

For more information about this report visit https://www.researchandmarkets.com/research/84wjgq/rwanda_insurance?w=4

Source: https://www.businesswire.com/news/home/20190307005845/en/Rwanda-Insurance-Industry-Governance-Risk-Compliance-Report

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