Insurance Act, 2006 (Act 724)
Section 36: (1) Subject to subsection (4), a person shall not carry on, or purport to carry on, a class of insurance-business in the country unless that person holds a valid licence issued under section 22 authorising the person to carry on that class of insurance business.
(2) For the purposes of subsection (1), a company incorporated under the Companies Code, 1963 (Act 179) that carries on insurance business outside the country shall carry on insurance business from within the country.
(3) A person who carries on insurance business contrary to subsection (I) commits an offence.
(4) This section does not apply to an offshore insurer that enters into a reinsurance contract with an insurer where the reinsurance contract
(a) is entered into in accordance with reinsurance arrangements approved by the Commission under section 53 (I), or
(b) is exempted from approval by the Commission under section 53 (3) .
(5) For the purposes of subsection (I), "person
Procedure to Follow
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- Email: info@nicgh.org
- Website: https://nicgh.org/
- GPS:
- Telephone: 0302238300 /030 2 238301
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