Governance, Risk and Compliance in the Ethiopian Insurance Industry 2018-2019 – ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)-- The "Governance, Risk and Compliance - The Ethiopian Insurance Industry" report has been added to ResearchAndMarkets.com's offering.

Key Findings

• The Ethiopian insurance industry is regulated by the NBE.
• Motor third-party liability insurance and professional indemnity insurance for insurance intermediaries are compulsory classes of insurance.
• Composite insurance is permitted in Ethiopia.
• The government does not permit FDI in the insurance industry.
• Non-admitted insurance is prohibited in Ethiopia. However, unauthorized reinsurance companies can reinsure risks located in Ethiopia on a cross-border basis.

This report is the result of extensive research into the insurance regulatory framework in the Ethiopia. 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 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.

The report provides:

• An overview of the insurance regulatory framework in the Ethiopia.
• The latest key changes, and changes expected in the country's 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 Ethiopia.
• 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 report covers details of the insurance regulatory framework in the Ethiopia.
• The report contains details of the rules and regulations governing insurance products and insurance entities.
• The report lists and analyzes key trends and developments pertaining to the country's insurance regulatory framework.
• The report analyzes the rules and regulations pertaining to the establishment and operation of insurance businesses in the country.
• The report provides details of taxation imposed on insurance products and insurance companies.

Key Topics Covered

1 Introduction

2 Governance, Risk and Compliance

2.1 Legislation Overview and Historical Evolution

2.2 Latest Changes in Regulation

2.3 Legislation and Market Practice by Type of Insurance

2.3.1 Life Insurance

2.3.2 Property Insurance

2.3.3 Motor Insurance

2.3.4 Liability Insurance

2.3.5 Marine, Aviation and Transit Insurance

2.3.6 Personal Accident and Health Insurance

2.4 Compulsory Insurance

2.4.1 Motor Third Party Liability Insurance

2.4.2 Professional Indemnity for Insurance Intermediaries

2.5 Supervision and Control

2.5.1 National Bank of Ethiopia

2.6 Non-Admitted Insurance Regulation

2.6.1 Overview

2.6.2 Intermediaries

2.6.3 Market Practices

2.6.4 Fines and Penalties

2.7 Company Registration and Operations

2.7.1 Type of Insurance Organization

2.7.2 Establishing a Local Company

2.7.3 Foreign Ownership

2.7.4 Types of License

2.7.5 Capital Requirements

2.7.6 Solvency Margin

2.7.7 Reserve Requirements

2.7.8 Investment Regulations

2.7.9 Statutory Return Requirements

2.7.10 Fee Structure

2.8 Taxation

2.8.1 Insurance Premium or Policy Taxation

2.8.2 Withholding Taxes on Premium Paid Overseas

2.8.3 Corporate Tax

2.8.4 VAT

2.8.5 Captives

2.9 Legal System

2.9.1 Introduction

2.9.2 Access to Court

2.9.3 Alternative Dispute Resolution (ADR)

List of Tables

Table 1: Insurance Industry Definitions

Table 2: Ethiopia - Insurance Regulatory Framework Key Features

Table 3: Ethiopia - Life Insurance Regulatory Framework

Table 4: Ethiopia - Property Insurance Regulatory Framework

Table 5: Ethiopia - Motor Insurance Regulatory Framework

Table 6: Ethiopia - Liability Insurance Regulatory Framework

Table 7: Ethiopia - Corporate Tax Rates for the Financial Year 2018

List of Figures

Figure 1: Ethiopia - Insurance Supervision and Control at Various Levels

Figure 2: Ethiopia - Insurance Regulatory Frameworks for Company Registration and Operation

For more information about this report visit https://www.researchandmarkets.com/r/pzwahx

View source version on businesswire.com: https://www.businesswire.com/news/home/20190716005803/en/

ResearchAndMarkets.com

Laura Wood, Senior Press Manager

[email protected]

For E.S.T Office Hours Call 1-917-300-0470

For U.S./CAN Toll Free Call 1-800-526-8630

For GMT Office Hours Call +353-1-416-8900

Related Topics: Insurance

Source: Research and Markets