Governance, Risk and Compliance – The Libyan Insurance Industry

Date: 2015-09

“The report provides insights into the governance, risk and compliance framework pertaining to the insurance industry in Libya, including:

• An overview of the insurance regulatory framework in Libya.

• The latest key changes, and changes expected in the Libyan 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 Libya.

• Key GRC parameters including licensing requirements, permitted foreign direct investment, minimum capital requirements, solvency requirements, reserve requirements, and investment regulations.

• Details of the tax and legal systems in the country.”

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