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 |
---|