Summary |
The first chapter reports on the developments in insurance legislation and other related legislations during 1990 by outlining the salient features of these legislations which serve to further strengthen and streamline the operations of the industry.
Chapter 2 highlights key developments and the experience of the Director General in the administration of the Act particularly in respect of registration of insurers, licensing of intermediaries, changes within insurers in terms of control, equity structure and management, opening of new branches, submission of accounts, solvency position and statutory assets requirements. Compounding of offences against the Act and major findings of on-site inspections of insurers are also highlighted in this chapter.
Chapter 3 reports on matters constituting other related responsibilities of the Director General, which include the implementation and monitoring of the New Economic Policy requirements, human resource development, dialogues with insurance associations, various measures to strengthen the industry and the involvement of the Director General in international co-operation in the field of insurance and staff development and training.
The last chapter constitutes the main body of the Report, providing a detailed analysis of the performance of the life and general insurance sectors during the year 1989 as well as for the year 1990 based on preliminary data.
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