Insurance Laws Draft Bill, 2015

The National Treasury and the Financial Service Board (“FSB”) has published the draft Insurance Laws Bill, 2015 (“the Bill”) for public comment, as approved by Cabinet at its meeting of 15 April 2015, and is asking you to comment.

The Bill seeks to:
▪ provide for a legal framework for the prudential supervision of insurance business in the Republic that is consistent, where relevant, with international standards for insurance regulation and supervision;
▪ replace certain parts of the Long-term Insurance Act, 1998, and Short-term Insurance Act, 1998.

Find attached documents here: Media Statement
                                                  Draft Insurance Bill (Annexure A)
                                                  Memorandum on the objectives of the Insurance Bill, 2015 (Annexure B)
                                                  FSB: Solvency Assessment and Management Economic Impact Study (Annexure C)

Comments can be emailed to Ms Reshma Sheroja at [email protected] by no later than Friday, 29 May 2015.

Issued by; National Treasury and Financial Service Board