Statutory Functions

    • Licensing of Insurance companies,comprising of reinsurer,insurers,brokers and lost adjusters;

    • Monitor the financial soundness reinsurer,insurers,brokers and lost adjusters;

    • Ensure activities of reinsurers,insurer,brokers and lost adjusters are within the laws;

    • Ensure placement of insurance investments is in the best interest of the insured and is in line withGovernment Investment Guidelines;

    • Provide advise to Government,Industry and other Stakeholders on developments and issues in the insurance industry in a timely manner;

    • Deal with complaints from policyholders who are disatisfied with insurance services;and

    • Carry out investigations,inquiries and inspections,as well as examined and analyze financial information,etc submitted by insurance companies and to prepare reports and recommendations as approp