Suriname Insurance IndustryGovernance, Risk and Compliance

Suriname Insurance IndustryGovernance, Risk and Compliance

  • GlobalData
  • September 2020
  • Banking
  • 33 pages

Report Description

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Suriname Insurance Industry - Governance, Risk and Compliance

Summary

GlobalDatas 'Surinamese Insurance Industry - Governance, Risk and Compliance' report is the result of extensive research into the insurance regulatory framework in Suriname.

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 GlobalDatas 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.

Key Highlights

- The Surinamese insurance industry is supervised and regulated by the Central Bank of Suriname.
- 100% foreign direct investment is permitted in the Surinamese insurance industry.
- The government of Suriname has adopted a social security system in September 2014.
- Non-admitted insurance is prohibited in Suriname. However, foreign reinsurers can operate on a cross-border basis provided the underwriting takes place outside Suriname.
- Motor third-party liability insurance, health insurance and workers compensation insurance are compulsory classes of insurance.

The report provides insights into the governance, risk and compliance framework pertaining to the insurance industry in Suriname, including -
- An overview of the insurance regulatory framework in Suriname.
- 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 Suriname.
- 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 Suriname.
- 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 Suriname.
- Track the latest regulatory changes, and expected changes impacting the Surinamese 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.

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Table of Contents
1 INTRODUCTION
1.1 What is this Report About?
1.2 Definitions
2 GOVERNANCE, RISK AND COMPLIANCE

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