Botswana International Financial Service Centre launches insurance policy

source: Daily News

By Sefhako Sefhako

GABORONE – Botswana International Financial Service Centre (IFSC) on Thursday launched the International Insurance Act in Gaborone. Speaking at the launch, the minister of Finance and Development planning, Mr Baledzi Gaolathe said the objective of the legislation was to provide the regulatory framework necessary to establish Botswana as a competitive location.
“This legislation will enable and facilitate the carrying out of a wide range of cross border insurance activities such as reinsurance, insurance brokerage and captive insurance operations.”
Mr Gaolathe said the international insurance legislation enables the regulatory authorities in Botswana to adequately address prudent and supervisory concerns of cross border insurance activities in order to protect the integrity of the registered insurance businesses and that of the host jurisdiction.
This framework legislation, he said, will at the same time provide the operational flexibility required for [continue reading]




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