| Overarching principle in insurance supervision | Material supervision |
|---|---|
| Requirement for minimum insurance rates | No |
| Cross-border insurance allowed | No |
| Bancassurance is allowed | Yes |
|---|---|
| Allowed ownership structures | Stock Companies, Mutuals |
| Foreign ownership restrictions | Yes |
| Minimum capital requirement | SSP3,000,000 |
| Minimum paid-up share capital | SSP300,000 |
| Requirement for independent audits | No |
| Requirement to appoint actuaries | No |
| Premium rate approval needed | No |
| 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 | No |
| Compulsory insurance lines | Motor TPL |
| Compulsory reinsurance cessions | No |
| Established guarantee or policyholder protection fund | No |
|---|
