Governance, Risk and Compliance – The Swazi Insurance Industry

Date: 2016-01

“• The Swazi insurance industry is regulated by the Financial Services Regulatory Authority (FSRA).

• 100% FDI is permitted in Swazi insurance industry.

• Motor third-party liability insurance and worker’s compensation insurance are mandatory classes of insurance in Swaziland.

• Non-admitted insurance is prohibited in Swaziland. However, the FSRA may permit the placement of non-admitted contract if local capacity is not available.

• Corporate income tax rate was reduced to 28.5% from the earlier rate of 30% starting from December 31, 2013.”

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