| Life premium volume (USD) | 613,789 |
|---|---|
| Non-life premium volume (USD) | 13 mn |
| Total premium volume | 14 mn |
| Total premium volume (DJF) | 2 bn |
| Insurance penetration: Premiums in % of GDP | 1.25% |
| Insurance density: Premium / capita USD | 16.3 |
| Local currency | DJF |
| Domestic life insurers | |
|---|---|
| Domestic non-life insurers | |
| Domestic composite insurers | 2 |
| Foreign life insurers | |
| Foreign non-life insurers | |
| Foreign composite insurers | |
| Domestic reinsurers | |
| Foreign reinsurers | |
| State-owned insurers | |
| State-owned reinsurers | |
| Insurance intermediaries | |
| Reinsurance intermediaries |
| Overarching principle in insurance supervision | Financial supervision |
|---|---|
| Requirement for minimum insurance rates | Yes |
| Cross-border insurance allowed | International lines only |
| Bancassurance is allowed | No |
|---|---|
| Allowed ownership structures | Stock Companies, Mutuals |
| Foreign ownership restrictions | No |
| Minimum capital requirement | DJF 100mn |
| Minimum paid-up share capital | DJF 50mn |
| Requirement for independent audits | Yes |
| Requirement to appoint actuaries | No |
| Premium rate approval needed | Yes |
| Solvency referred to as the difference between assets and liabilities | No |
|---|---|
| RBC (Risk-based capital) principles applied | No |
| Ceded reinsurance is regarded as a permissible asset | unknown |
| Compulsory insurance lines | Motor TPL, Cargo Import |
| Compulsory reinsurance cessions | No |
| Established guarantee or policyholder protection fund | unknown |
|---|
