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Cape Verde Insurance Industry - Governance, Risk and Compliance

Publisher GlobalData
Published Jan 31, 2025
Length 69 Pages
SKU # GBDT19975403

Description

Cape Verde Insurance Industry - Governance, Risk and Compliance

Summary

GlobalData’s ‘Cape Verde Insurance Industry - Governance, Risk and Compliance’ report is the result of extensive research into the insurance regulatory framework in Cape Verde.

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.

The report provides insights into the governance, risk, and compliance framework pertaining to the insurance industry in Cape Verde, including -
  • An overview of the insurance regulatory framework in Cape Verde.
  • The latest key changes, and changes expected in the country’s insurance regulatory framework.
  • Key regulations and market practices related to different types of insurance product in the country.
  • Rules and regulations pertaining to key classes of compulsory insurance, and the scope of non-admitted insurance in the country.
  • Key parameters including licensing requirements permitted foreign direct investment, minimum capital requirements, solvency and reserve requirements, and investment regulations.
  • Details of the tax and legal systems in the country.
Key Highlights
  • The Cape Verde insurance industry is regulated by the BCV.
  • Composite insurance is permitted.
  • 100% foreign direct investment is permitted in the Cape Verdean insurance industry.
  • Motor third-party liability insurance, workers' compensation insurance, and aviation liability insurance are the key compulsory classes of insurance in Cape Verde.
  • Non-admitted insurance is prohibited, with a few exceptions.
Scope
  • The report covers details of the insurance regulatory framework in Cape Verde.
  • 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
  • Provides FAQ-style analytical insights comprising 129 knowledge elements on insurance compliance applicable to the country.
  • Gain insights into the insurance regulatory framework in Cape Verde.
  • Track the latest regulatory changes, and expected changes impacting the Cape Verdean 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.

Table of Contents

69 Pages
CAPE VERDE
Legislation Overview
Supervision and Control
Legislation
Compulsory Insurance
Non-Admitted Insurance Regulations
Company Registration and Operation
License
Foreign Direct Investment / Ownership
Minimum Capital Requirements
Solvency Margins
Reserve Requirements
Statutory Return Requirements
Fee Structure
Taxation
Tax on Insurance Premium
Corporate Income Tax
Corporate Capital Gains Tax
Value Added Tax
Legal System
Policy Practice
About GlobalData
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List of Tables
Table 1: Cape Verde – Motor Vehicle Rating Tariffs
Table 2: Cape Verde – Percentage of Reversal of Motor Insurance Premium
Table 3: Cape Verde – Minimum Capital Requirements - Energy - Oil Rig
Table 4: Cape Verde – Minimum Capital Requirements - Energy - Operational Energy
Tabe 5: Cape Verde – Minimum Capital Requirements - Clinical Trials
Table 6: Cape Verde – Minimum Capital Requirements - Transit
Table 7: Cape Verde – Minimum Capital Requirements - Aviation
Table 8: Cape Verde – Minimum Capital Requirements - Marine
Table 9: Cape Verde – Minimum Capital Requirements - Professional Risks
Table 10: Cape Verde – Minimum Capital Requirements - Employers' Liability/workers compensation
Table 11: Cape Verde – Minimum Capital Requirements - Liability
Table 12: Cape Verde – Minimum Capital Requirements - Motor
Table 13: Cape Verde – Minimum Capital Requirements - Healthcare
Table 14: Cape Verde – Minimum Capital Requirements - Engineering
Table 15: Cape Verde – Minimum Capital Requirements - Personal Accident
Table 16: Cape Verde – Minimum Capital Requirements - Business Interruption
Table 17: Cape Verde – Minimum Capital Requirements - Property
Table 18: Cape Verde – Minimum Capital Requirements - Group Life
Table 19: Cape Verde – Minimum Capital Requirements - Individual Life
Table 20: Cape Verde– Corporate Tax Rates for the Financial Year 2025
Table 21: Cape Verde – Motor Vehicle Rating Tariffs - Automobile

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