Reinsurance Guidelines, 2017 🇬ðŸ‡
Ghana
Guidelines nic-rg
Reinsurance Guidelines, 2017
- Issued by National Insurance Commission on 1 February 2017
- Commenced on 1 February 2017
- [This is the version of this document from 1 February 2017.]
1. Objectives of Reinsurance Guidelines
The objectives of these reinsurance guidelines are as follows:i) To ensure that all reinsurance arrangements entered into by insurers meet the approval of the Commission and such arrangements are in the best interest of the industry and the countryii) To ensure local capacity is utilized by lead insurers through participatory offer to other Insurers with appropriate security before recourse to overseas reinsurance placementiii) To ensure that each registered insurer on the market has access to risks emanating from the market without having to lead the placements thus preventing a situation that invariably results in unhealthy competition and the undercutting of ratesiv) To avoid the flight of premiums overseas on risks which the Ghana market has the capacity …Read the Full Legislation on judy.legal
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