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Insurance Regulatory Measures

Section 34 of the Monetary Authority Act enables the Authority to issue or amend Rules, Statements of Guidance and Statements of Principle. In addition, Section 48 provides for the issuance of a Regulatory Handbook to contain the policies and procedures of the Authority in carrying out its regulatory and co-operative functions.

Below is an index of measures that contains a checklist for RulesStatements of GuidanceRegulatory PoliciesRegulatory Procedures and Forms that pertain to the Insurance sector.


A clear and precise directive issued to licensees on a subject matter that the Authority considers essential for the prudential supervision of regulated entities and which creates binding obligations on all licensees and for which a breach may lead to the imposition of a fine or regulatory action being taken against the licensee by the Authority pursuant to the exercise of its powers under the regulatory acts.

Statement of Guidance ("SOG") 

Guidance intended to assist licensees to comply with relevant acts, regulations, rules and statements of principles or to describe standards for conduct of business. Guidance contains recommendations on how licensees should operate and represent a measure against which the Authority will assess compliance by licensees.

Regulatory Policy 

A set of principles, a criteria, or approach to guide decisions and actions taken by the Authority in performing its regulatory and co-operative functions.

Regulatory Procedure 

A set of actions, activities or tasks that the Authority will carry out in performing its regulatory and co-operative functions.

Note: The following items marked with NEW have been recently added or updated.
LEGISLATION  click for link
  Rule SOG Policy Procedure Form
Regulatory Policy - Licencing for Class D Insurers     View    
Licensing for Class B Insurers     View    
Regulatory Policy Class C Insurance Companies     View    
Licensing - Insurance Companies   View      
Licensing - Insurance Managers   View      
Licensing - Insurance Brokers, Agents and Agencies     View    
Fitness and Propriety     View View

Personal Questionnaire


Declaration of Source of Wealth & Source of Funds

Consolidated Supervision     View    
Approval of an Auditor     View    
Recognition and Approval of an Actuary     View    
Approval and Notification of changes       View  
Issuing Notices of Decisions to Declined Applicants       View  
Approved Stock Exchanges     View    
List of Approved Stock Exchanges     View    
Regulatory Policy - Criteria for Approving Changes in Ownership and Control     View    
Use of Restricted Words     View    
Rule and Statement of Guidance - Reinsurance Arrangements (Effective: 27 May 2024) View View      
Statement of Guidance - for Licensees seeking approval to use an Internal Capital Model to calculate the Prescribed Capital Requirement   View   View  
Business Continuity Management   View      
Outsourcing – Regulated Entities   View      
Investment Activities for Insurers View View      
Professional Qualification Requirements for Insurance Companies, Brokers, Agents and Agencies View        
Corporate Governance - (Effective: 14 October 2023) View        
Nature, accessibility and retention of records   View      
Cybersecurity for Regulated Entities View View      
Marketing Policies of Licensees   View      
Responsibilities of Insurance Managers   View      
Market Conduct - Insurers, Agents and Brokers View View      
Reinsurance Arrangements   View      
Internal Controls (Effective: 14 October 2023) View View      
Professional Indemnity Insurance   View      
Waiver of Audit - Class C Licensees     View    
Succession Planning   View      
Risk Management For Insurance Companies View        
Capital Adequacy - Class B Insurers   View      
Trust Funds – section 7(1) Insurance Law - Approved External Insurers     View    
Prudential Reports and Statistical Returns     View    
Actuarial Valuations View View      
Anti-Money Laundering and Combating the Financing of Terrorism (AML/CFT)   View     View
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