Governance, Risk and Compliance – The Swazi Insurance Industry
Timetric’s 'Governance, Risk and Compliance – The Swazi Insurance Industry' report is the result of extensive research into the insurance regulatory framework in Swaziland.
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 Swaziland, including:
- An overview of the insurance regulatory framework in Swaziland.
- 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 Swaziland.
- 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 Swaziland.
- 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 Swaziland.
- Track the latest regulatory changes, and expected changes impacting the Swazi 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 Swazi insurance industry is regulated by the FSRA.
- 100% foreign direct investment is permitted in Swazi insurance industry.
- Motor third-party liability insurance and worker’s compensation insurance are mandatory classes of insurance in Swaziland.
- Non-admitted insurance is prohibited in Swaziland. However, the FSRA may permit the placement of non-admitted contract if local capacity is not available.
- Corporate tax rate was reduced to 27.5% from the earlier rate of 30% starting from January 1, 2014.
- What is this Report About?
- Table Insurance Industry Definitions
- Governance, Risk and Compliance
- Table Swaziland - 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 Swaziland - Life Insurance Regulatory Framework
- Table Swaziland - Intermediary Remuneration for Life Insurance Policies
- Property Insurance
- Table Swaziland - Property Insurance Regulatory Framework
- Motor Insurance
- Table Swaziland - Motor Insurance Regulatory Framework
- Liability insurance
- Table Swaziland - Liability Insurance Regulatory Framework
- Marine, aviation and transit insurance
- Personal accident and health insurance
- Compulsory Insurance
- Motor third party liability insurance
- Professional indemnity and fidelity guarantee for managers and brokers
- Professional indemnity insurance for insurance intermediaries
- Workmen's compensation insurance
- Supervision and Control
- International Association of Insurance Supervisors
- Financial Services Regulatory Authority
- Non-Admitted Insurance Regulation
- 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 Swaziland - Investment
- Statutory return requirements
- Fee structure
- Table Swaziland - Fee Structure
- Insurance premium or policy taxation
- Withholding taxes on premium paid overseas
- Corporate tax
- Table Swaziland - Corporate Tax Rates for the Financial Year 2017
- Legal System
- Access to court
- Alternative dispute resolution (ADR)
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