Direct insurance applicability limits insurance product and pricing requirements to direct business, excluding reinsurance operations of IIOs. The requirements take effect on publication in the Official Gazette and apply to IIOs conducting direct insurance business in an International Financial ... Summary
International Financial Services Centres Authority Act, 2019
Direct insurance applicability limits insurance product and pricing requirements to direct business, excluding reinsurance operations of IIOs.
The requirements take effect on publication in the Official Gazette and apply to IIOs conducting direct insurance business in an International Financial Services Centre. IIOs engaged solely in reinsurance business are excluded. Where an IIO conducts both direct insurance and reinsurance, the requirements govern only its direct insurance operations, with reinsurance activities outside their scope.
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