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.
Procedure to Follow
Responsible Institution
- Email: info@nicgh.org
- Website: https://nicgh.org/
- GPS:
- Telephone: 0302238300 /030 2 238301
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