The sector’s reform is on the right track

The latest general assembly of the Association des Assureurs focused on the reform of a sector still regulated by the 1987 decree. The restriction to 25% of share holding in an insurance company will, henceforth, apply only to new share holders and to newly-founded firms. The Financial Services Commission will assume the task of regulator, and will have the power to levy fines to insurance companies in breach of regulations.
The reform will, also, consider the separation of property insurance from that of life.

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