Democratic Republic of Congo Insurance Industry - Governance, Risk and Compliance
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TABLE OF CONTENTS
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Democratic Republic of Congo Insurance Industry - Governance, Risk and Compliance
Summary
GlobalDatas Democratic Republic of Congo Insurance Industry - Governance, Risk and Compliance report is the result of extensive research into the insurance regulatory framework in the Democratic Republic of the Congo.
It provides detailed analysis of the insurance regulations for life, property, motor, liability, personal accident and health, and marine, aviation and transit insurance. The report specifies various requirements for the establishment and operation of insurance and reinsurance companies and intermediaries.
The report brings together GlobalDatas research, modeling and analysis expertise, giving insurers access to information on prevailing insurance regulations, and recent and upcoming changes in the regulatory framework, taxation and legal system in the country. The report also includes the scope of non-admitted insurance in the country.
Key Highlights
- The Autorit de Rgulation et de Contrle des Assurances (ARCA) regulates and supervises the Democratic Republic of the Congo insurance industry.
- The provisions of the Insurance Act 1931 and the Code of Commerce govern the life and non-life insurance businesses in the Democratic Republic of the Congo.
- Composite insurance is not permitted in the country.
- Insurance for motor vehicles and workmens compensation are mandatory, as is insurance for pension fund administrators to guarantee performance.
- Non-admitted insurers and intermediaries are not permitted to operate in the Democratic Republic of the Congo insurance industry.
The report provides insights into the governance, risk, and compliance framework pertaining to the insurance industry in the Democratic Republic of the Congo, including -
- An overview of the insurance regulatory framework in the Democratic Republic of the Congo.
- The latest key changes, and changes expected in the countrys insurance regulatory framework.
- Key regulations and market practices related to different types of insurance product in the country.
- Rules and regulations pertaining to key classes of compulsory insurance, and the scope of non-admitted insurance in the country.
- Key parameters including licensing requirements permitted foreign direct investment, minimum capital requirements, solvency and reserve requirements, and investment regulations.
- Details of the tax and legal systems in the country.
Scope
- The DRCs insurance industry is regulated by ARCA.
- The placement of non-admitted insurance is not permitted in the DRC insurance industry.
- 100% FDI is permitted in the DRC insurance industry.
- Composite insurers are not permitted in the DRC.
- Motor third-party liability insurance, workers compensation insurance (state scheme), aviation insurance and civil liability insurance for maritime, river and lake carriers or inland waterways are the key classes of compulsory insurance in the DRC.
Reasons to Buy
- Provides FAQ-style analytical insights comprising 129 knowledge elements on insurance compliance applicable to the country.
- Gain insights into the insurance regulatory framework in the Democratic Republic of the Congo.
- Track the latest regulatory changes, and expected changes impacting the Democratic Republic of the Congo insurance industry.
- Gain detailed information about the key regulations governing the establishment and operation of insurance entities in the country.
- Understand key regulations and market practices pertaining to various types of insurance product.
Summary
GlobalDatas Democratic Republic of Congo Insurance Industry - Governance, Risk and Compliance report is the result of extensive research into the insurance regulatory framework in the Democratic Republic of the Congo.
It provides detailed analysis of the insurance regulations for life, property, motor, liability, personal accident and health, and marine, aviation and transit insurance. The report specifies various requirements for the establishment and operation of insurance and reinsurance companies and intermediaries.
The report brings together GlobalDatas research, modeling and analysis expertise, giving insurers access to information on prevailing insurance regulations, and recent and upcoming changes in the regulatory framework, taxation and legal system in the country. The report also includes the scope of non-admitted insurance in the country.
Key Highlights
- The Autorit de Rgulation et de Contrle des Assurances (ARCA) regulates and supervises the Democratic Republic of the Congo insurance industry.
- The provisions of the Insurance Act 1931 and the Code of Commerce govern the life and non-life insurance businesses in the Democratic Republic of the Congo.
- Composite insurance is not permitted in the country.
- Insurance for motor vehicles and workmens compensation are mandatory, as is insurance for pension fund administrators to guarantee performance.
- Non-admitted insurers and intermediaries are not permitted to operate in the Democratic Republic of the Congo insurance industry.
The report provides insights into the governance, risk, and compliance framework pertaining to the insurance industry in the Democratic Republic of the Congo, including -
- An overview of the insurance regulatory framework in the Democratic Republic of the Congo.
- The latest key changes, and changes expected in the countrys insurance regulatory framework.
- Key regulations and market practices related to different types of insurance product in the country.
- Rules and regulations pertaining to key classes of compulsory insurance, and the scope of non-admitted insurance in the country.
- Key parameters including licensing requirements permitted foreign direct investment, minimum capital requirements, solvency and reserve requirements, and investment regulations.
- Details of the tax and legal systems in the country.
Scope
- The DRCs insurance industry is regulated by ARCA.
- The placement of non-admitted insurance is not permitted in the DRC insurance industry.
- 100% FDI is permitted in the DRC insurance industry.
- Composite insurers are not permitted in the DRC.
- Motor third-party liability insurance, workers compensation insurance (state scheme), aviation insurance and civil liability insurance for maritime, river and lake carriers or inland waterways are the key classes of compulsory insurance in the DRC.
Reasons to Buy
- Provides FAQ-style analytical insights comprising 129 knowledge elements on insurance compliance applicable to the country.
- Gain insights into the insurance regulatory framework in the Democratic Republic of the Congo.
- Track the latest regulatory changes, and expected changes impacting the Democratic Republic of the Congo insurance industry.
- Gain detailed information about the key regulations governing the establishment and operation of insurance entities in the country.
- Understand key regulations and market practices pertaining to various types of insurance product.
TABLE OF CONTENTS
DEMOCRATIC REPUBLIC OF THE CONGO
Legislation Overview
Supervision and Control
Legislation
Compulsory Insurance
Non-Admitted Insurance Regulations
Company Registration and Operation
License
Foreign Direct Investment / Ownership
Minimum Capital Requirements
Solvency Margins
Reserve Requirements
Statutory Return Requirements
Fee Structure
Taxation
Tax on Insurance Premium
Corporate Income Tax
Corporate Capital Gains Tax
Value Added Tax
Legal System
Policy Practice
About GlobalData
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List Of Tables
Democratic Republic of Congo - Corporate Tax Rates for the Financial Year 2021
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