Timetric’s 'Governance, Risk and Compliance - The Burundian Insurance Industry' report is the result of extensive research into the insurance regulatory framework in Burundi. 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 operations 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 Burundi, including:
• An overview of the insurance regulatory framework in Burundi.
• The latest key changes and changes expected in the Burundian 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 Burundi.
• Key GRC parameters including licensing requirements, permitted foreign direct investment, minimum capital requirements, solvency requirements, reserve requirements and investment regulations.
• Details of the tax and legal systems in the country.
• This report covers details of the insurance regulatory framework in Burundi.
• The report contains details of rules and regulations governing insurance products and insurance entities.
• The report lists and analyzes key trends and developments pertaining to the Burundian insurance regulatory framework.
• The repot analyzes rules and regulations pertaining to the establishment and operation of insurance business in the country.
• The report provides details of taxation imposed on insurance products and companies.
Reasons to Buy
• Gain insights into the insurance regulatory framework in Burundi.
• Track latest regulatory changes and expected changes impacting the Burundian insurance industry.
• Gain detailed information about key regulations governing the establishment and operation of insurance entities in the country.
• Understand key regulations and market practices relating to various types of insurance product.
• The Burundian insurance industry is governed by the Agency of Regulation and Insurance Supervision (Agence de Regulation et de Contrôle des Assurances – ARCA)
• 100% FDI is permitted in the Burundian insurance industry.
• Composite insurance is not permitted in Burundi.
• Non-admitted insurance is not permitted by law. However, risks for which local capacity is not available are permitted to be placed with unauthorized insurers.
• Effective from January 2014, new insurance law – the Insurance Code 2014 – was introduced repealing the Decree Law No. 1/18 on Compulsory Insurance of Civil Liability for Motor Vehicles, the Insurance Law 2002 and the Insurance Contract Law 2002.