866-997-4948(US-Canada Toll Free)

Governance, Risk and Compliance-The Equatorial Guinean Insurance Industry

Published By :

Timetric

Published Date : Sep 2017

Category :

Insurance

No. of Pages : 53 Pages

Synopsis
Timetrics 'Governance, Risk and Compliance-The Equatorial Guinean Insurance Industry' report is the result of extensive research into the insurance regulatory framework in Equatorial Guinea.

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 Timetrics 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.

Summary
The report provides insights into the governance, risk and compliance framework pertaining to the insurance industry in Equatorial Guinea, including:

An overview of the insurance regulatory framework in Equatorial Guinea.

The latest key changes, and changes expected in the countrys 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 Equatorial Guinea.

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.

Scope
The report covers details of the insurance regulatory framework in Equatorial Guinea.

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 countrys 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 Equatorial Guinea.

Track the latest regulatory changes, and expected changes impacting the Equatorial Guinean 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.

Key Highlights
The Equatorial Guinean insurance industry is regulated by the CRCA at the regional level and by the MoF at the national level

Composite insurance is not permitted in Equatorial Guinea.

100% FDI is permitted in the Equatorial Guinean insurance industry.

Insurance companies from CIMA member states are permitted to operate in Equatorial Guinea without a license.

Key classes of compulsory insurance include motor third-party liability insurance and professional indemnity insurance for insurance intermediaries.
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 Liability insurance for ships with respect to oil pollution
2.5 Supervision and Control
2.5.1 International Association of Insurance Supervisors
2.5.2 Commission Regional des Assurances
2.5.3 Ministry of Finance
2.6 Non-Admitted Insurance Regulations
2.6.1 Overview
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 Timetric
3.3 About Timetric
3.4 Timetrics Services
3.5 Disclaimer

List of Tables
Table 1: Insurance Industry Definitions
Table 2: Equatorial Guinea Insurance Regulatory Framework Key Features
Table 3: Equatorial Guinea Life Insurance Regulatory Framework
Table 4: Equatorial Guinea Property Insurance Regulatory Framework
Table 5: Equatorial Guinea Motor Insurance Regulatory Framework
Table 6: Equatorial Guinea Liability Insurance Regulatory Framework
Table 7: Equatorial Guinea Corporate Tax Rates for the Financial Year 2017

List of Figures
Figure 1:Equatorial Guinea Insurance Supervision and Control at Various Levels
Figure 2: Equatorial Guinea Insurance Regulatory Frameworks for Company Registration and Operation

Make an enquiry before buying this Report

Please fill the enquiry form below.

  • Full Name *
  • Your Email *
  • Job Title *
  • Company *
  • Phone No. * (Pls. Affix Country Code)
  • Message
  • Security Code *