Insurance Act, 2006 (Act 724)

55. (I) An insurer shall not enter into a contract of reinsurance except in the case of a facultative reinsurance arrangement.(2) Subsection (I) does not apply to an insurer whose licence is restricted to reinsurance business(3) An insurer that contravenes subsection (1) is liable to pay to the Commission the percuniary penalty stated in the First Schedule.

Procedures to Follow

Not Avaiable

Responsible Institution

National Insurance Commission


Relevant Forms to Download

Not Available

Fees / Charges

Not Avaiable