Regulatory Update - April 2023

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It is important to understand the reasoning behind the separation in the Insurance Act, 2017 of the 9 classes of life insurance and 17 classes of non-life insurance. The key to what is non-life insurance business is that, by definition, a non-life insurer “undertakes to meet insurance obligations that fully or partially indemnifies loss on the happening of an unplanned or uncertain event”. Download Regulatory Update