Research and Markets: Governance, Risk and Compliance – The Lao Insurance Industry

DUBLIN--(BUSINESS WIRE)-- Research and Markets (http://www.researchandmarkets.com/research/2xrznh/governance_risk) has announced the addition of the "Governance, Risk and Compliance - The Lao Insurance Industry" report to their offering.

'Governance, Risk and Compliance - The Lao Insurance Industry' report is the result of extensive research into the insurance regulatory framework in Laos. 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, recent and upcoming changes in 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 Ministry of Finance (MOF) is the government regulatory authority of the Lao insurance industry.

- The Insurance Law 2012, which repealed and replaced the Insurance Law 1990, is the principal law governing insurance business in the country.

- The government of Laos does not impose any restrictions on investment by foreign investors in the insurance industry.

- The placement of non-admitted insurance is not permitted in the insurance industry of Laos.

- International Financial Reporting Standard (IFRS) was implemented effective from January 1, 2015.

- Composite insurance is not permitted in the Lao insurance industry.

Key Topics Covered:

1 Introduction

2 Governance, Risk and Compliance

2.1 Legislation Overview and Historical Evolution

2.2 Latest Changes in Regulations

2.3 Legislation and Market Practice by Type of Insurance

2.4 Compulsory Insurance

2.5 Supervision and Control

2.6 Non-Admitted Insurance Regulations

2.7 Company Registration and Operations

2.8 Taxation

2.9 Legal System

3 Appendix

Companies Mentioned

• Assurance Générales du Laos
• Tokojaya Lao Assurance Co Ltd
• PCT Asian Insurance Company Ltd

For more information visit http://www.researchandmarkets.com/research/2xrznh/governance_risk

View source version on businesswire.com: http://www.businesswire.com/news/home/20150723006072/en/

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Source: Research and Markets