100% FDI is Ppermitted in the Burundian Insurance Industry

Date: 2015-09-10

“• The Burundian insurance industry is governed by the Agency of Regulation and Insurance Supervision (Agence de Regulation et de Contrôle des Assurances – ARCA)

• 100% FDI is permitted in the Burundian insurance industry.

• Composite insurance is not permitted in Burundi.

• Non-admitted insurance is not permitted by law. However, risks for which local capacity is not available are permitted to be placed with unauthorized insurers.

• Effective from January 2014, new insurance law – the Insurance Code 2014 – was introduced repealing the Decree Law No. 1/18 on Compulsory Insurance of Civil Liability for Motor Vehicles, the Insurance Law 2002 and the Insurance Contract Law 2002.”

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