Research and Markets: Governance, Risk and Compliance - The Sri Lankan Insurance Industry

DUBLIN--()--Research and Markets (http://www.researchandmarkets.com/research/4wvrq3/governance_risk) has announced the addition of the "Governance, Risk and Compliance - The Sri Lankan Insurance Industry" report to their offering.

'Governance, Risk and Compliance - The Sri Lankan Insurance Industry' report is the result of extensive research into the insurance regulatory framework in Sri Lanka. 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.

Summary:

- An overview of the insurance regulatory framework in Sri Lanka

- 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 Sri Lanka

- 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

Key Highlights:

- The Insurance Board of Sri Lanka regulates and supervises the insurance industry.

- 100% FDI is permitted in the Sri Lankan insurance industry.

- The Sri Lankan insurance industry is moving towards risk-based capital system in order to make it on par with the prevailing international practice.

- The placement of non-admitted insurance is not permitted. However non-admitted reinsurers are permitted to operate in the country.

- With effect from February 2016, all insurers in Sri Lanka are required to be listed on a licensed stock exchange.

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

For more information visit http://www.researchandmarkets.com/research/4wvrq3/governance_risk

Contacts

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
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
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Sector: Insurance

Contacts

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
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
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Sector: Insurance