Governance, Risk and Compliance – The Ghanaian Insurance Industry
Timetric’s 'Governance, Risk and Compliance – The Ghanaian Insurance Industry' report is the result of extensive research into the insurance regulatory framework in Ghana.
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 Timetric’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 Ghana, including:
- An overview of the insurance regulatory framework in Ghana.
- 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 Ghana.
- 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.
Reasons To Buy
- The report covers details of the insurance regulatory framework in Ghana.
- The report contains details of the rules and regulations governing insurance products and 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 companies.
- Gain insights into the insurance regulatory framework in Ghana.
- Track the latest regulatory changes, and expected changes impacting the Ghanian 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.
- The insurance industry of Ghana is regulated by the NIC
- Insurance to commercial buildings, motor third-party liability insurance and workmen’s compensation insurance are mandatory in Ghana.
- Composite insurance licenses are not granted in Ghana.
- 60% foreign direct investment is permitted in the Ghanaian insurance industry.
- The placement of non-admitted insurance and reinsurance are not permitted, with a few exceptions.
- What is this Report About?
- Table Insurance Industry Definitions
- Governance, Risk and Compliance
- Table Ghana - Insurance Regulatory Framework Key Features
- Legislation Overview and Historical Evolution
- Latest Changes in Regulation
- Legislation and Market Practice by Type of Insurance
- Life insurance
- Table Ghana - Life Insurance Regulatory Framework
- Property insurance
- Table Ghana - Property Insurance Regulatory Framework
- Motor insurance
- Table Ghana- Motor Insurance Regulatory Framework
- Liability insurance
- Table Ghana - Liability Insurance Regulatory Framework
- Marine, aviation and transit insurance
- Personal accident and health insurance
- Compulsory Insurance
- Motor third-party liability insurance
- Insurance for commercial properties
- Workmen's compensation insurance
- Aviation liability insurance
- Oil pollution insurance
- National Health Insurance Scheme
- Supervision and Control
- International Association of Insurance Supervisors
- National Insurance Commission
- Non-Admitted Insurance Regulations
- Market practices
- Fines and Penalties
- Company Registration and Operations
- Type of insurance organization
- Establishing a local company
- Foreign ownership
- Types of license
- Capital requirements
- Solvency margin
- Reserve requirements
- Investment regulations
- Table Ghana - Limits of Investments on Various Types of Assets
- Statutory return requirements
- Fee structure
- Insurance premium or policy taxation
- Withholding taxes on premium paid overseas
- Corporate tax
- Table Ghana- Corporate Tax Rates for the Financial Year 2017
- Legal System
- Access to court
- Alternative dispute resolution
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