CHANGE IN SHAREHOLDING PATTERN AND MANAGEMENT CONTROLInternational Financial Services Centres Authority (Management Control, Administrative Control and Market Conduct of Insurance Business) Regulations, 2023
CHANGE IN SHAREHOLDING PATTERN AND MANAGEMENT CONTROLInternational Financial Services Centres Authority (Management Control, Administrative Control and Market Conduct of Insurance Business) Regulations, 2023
Regulation 9 - In case of a merger, amalgamation or transfer involving an IIO, such IIO shall obtain prior approval of the Authority...
International Financial Services Centres Authority (Management Control, Administrative Control and Market Conduct of Insurance Business) Regulations, 2023 Chapter II CHANGE IN SHAREHOLDING PATTERN AND MANAGEMENT CONTROL
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Merger and transfer approval for IIOs requires solvency, legal compliance, and protection of policyholders before restructuring. Merger, amalgamation, or transfer involving an IIO requires prior approval of the Authority. The proposed merged entity must maintain an available ... Summary
Merger and transfer approval for IIOs requires solvency, legal compliance, and protection of policyholders before restructuring.
Merger, amalgamation, or transfer involving an IIO requires prior approval of the Authority. The proposed merged entity must maintain an available solvency margin not lower than the required solvency margin, while the restructuring scheme must comply with applicable laws and regulations and protect the best interests of policyholders.
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