Governance, Risk And Compliance – The Central African Republic Insurance Industry

GlobalData’s 'Governance, Risk and Compliance – The Central African Republic Insurance Industry' report is the result of extensive research into the insurance regulatory framework in Central African Republic.

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 report brings together GlobalData’s research, modeling and analysis expertise, giving insurers access to information on prevailing insurance regulations, and recent and upcoming changes in the regulatory framework, taxation and legal system in the country. The report also includes the scope of non-admitted insurance in the country.

Scope

• The report covers details of the insurance regulatory framework in Central African Republic .

• 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 Central African Republic .

• Track the latest regulatory changes, and expected changes impacting the Central African Republic 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.

Companies mentioned

Cica Re

Africa Re

Table of Contents

1 INTRODUCTION

1.1 What is this Report About?

1.2 Definitions

2 GOVERNANCE, RISK AND COMPLIANCE

2.1 Legislation Overview and Historical Evolution

2.2 Latest Changes in Regulation

2.3 Legislation and Market Practice by Type of Insurance

2.3.1 Life insurance

2.3.2 Property insurance

2.3.3 Motor insurance

2.3.4 Liability insurance

2.3.5 Marine, aviation and transit insurance

2.3.6 Personal accident and health insurance

2.4 Compulsory Insurance

2.4.1 Motor third party liability insurance

2.4.2 Professional indemnity insurance for insurance intermediaries

2.4.3 Worker’s compensation

2.5 Supervision and Control

2.5.1 International Association of Insurance Supervisors

2.5.2 Commission Regional des Assurances

2.5.3 Direction des Services Centraux

2.6 Non-Admitted Insurance Regulations

2.6.1 Overview 33

2.6.2 Intermediaries

2.6.3 Market practices

2.6.4 Fines and penalties

2.7 Company Registration and Operations

2.7.1 Type of insurance organization

2.7.2 Establishing a local company

2.7.3 Foreign ownership

2.7.4 Types of license

2.7.5 Capital requirements

2.7.6 Solvency margin

2.7.7 Reserve requirements

2.7.8 Investment regulations

2.7.9 Statutory return requirements

2.7.10 Fee structure

2.8 Taxation

2.8.1 Insurance premium or policy taxation

2.8.2 Withholding taxes on premium paid overseas.

2.8.3 Corporate tax

2.8.4 VAT

2.8.5 Captives

2.9 Legal System

2.9.1 Introduction

2.9.2 Access to court

2.9.3 Alternative dispute resolution

3 APPENDIX

3.1 Methodology

3.2 Contact GlobalData

3.3 About GlobalData

3.4 GlobalData’s Services

3.5 Disclaimer

List of Tables

Table 1: Insurance Industry Definitions

Table 2: The Central African Republic – Insurance Regulatory Framework Key Features

Table 3: The Central African Republic – Intermediary Remuneration Rates

Table 4: The Central African Republic – Life Insurance Regulatory Framework

Table 5: The Central African Republic – Property Insurance Regulatory Framework

Table 6: The Central African Republic – Motor Insurance Regulatory Framework

Table 7: The Central African Republic – Liability Insurance Regulatory Framework

Table 8: The Central African Republic – Insurance Premium Tax Rates

Table 9: The Central African Republic – Corporate Tax Rates for the Financial Year 2017

List of Figures

Figure 1: The Central African Republic – Insurance Supervision and Control at Various Levels

Figure 2: The Central African Republic – Insurance Regulatory Frameworks for Company Registration and Operation

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