| Life premium volume (USD) | 1,307 |
|---|---|
| Non-life premium volume (USD) | 7 mn |
| Total premium volume | 7 mn |
| Total premium volume (GMD) | 189 mn |
| Insurance penetration: Premiums in % of GDP | 0.44% |
| Insurance density: Premium / capita USD | 3.77 |
| Local currency | GMD |
| Domestic life insurers | 3 |
|---|---|
| Domestic non-life insurers | 7 |
| Domestic composite insurers | 0 |
| Foreign life insurers | 0 |
| Foreign non-life insurers | 0 |
| Foreign composite insurers | 0 |
| Domestic reinsurers | 1 |
| Foreign reinsurers | 0 |
| State-owned insurers | 0 |
| State-owned reinsurers | 0 |
| Insurance intermediaries | 11 |
| Reinsurance intermediaries | 1 |
| Overarching principle in insurance supervision | Financial supervision |
|---|---|
| Requirement for minimum insurance rates | Yes |
| Cross-border insurance allowed | Yes |
| Bancassurance is allowed | Yes |
|---|---|
| Allowed ownership structures | Translation missing: en.country_dashboard.allowed_ownership_structures_values.yes |
| Foreign ownership restrictions | No |
| Minimum capital requirement | GMD 15mn - GMD 200mn |
| Minimum paid-up share capital | 0 |
| Requirement for independent audits | Yes |
| Requirement to appoint actuaries | Yes |
| Premium rate approval needed | No |
| Solvency referred to as the difference between assets and liabilities | Yes |
|---|---|
| RBC (Risk-based capital) principles applied | No |
| Ceded reinsurance is regarded as a permissible asset | Yes |
| Compulsory insurance lines | Motor TPL |
| Compulsory reinsurance cessions | Yes |
| Established guarantee or policyholder protection fund | Yes |
|---|
