The authorities have released the attached notice along with a proposal on cell captives which was actually formulated several years back with quite extensive engagement with industry.
This is unlikely to affect many FIA members as cell captives are not widely used by most brokers.
Anyone who is interested in the documents can access them via the following link:
- Update on regulatory policy proposals mooted in the Third-party
Cell Captive Insurance and Similar Arrangements Discussion
Paper, 2013 -
Review of third-party cell captive insurance and similar arrangements
Any queries may be directed to our, National technical portfolio manager, Peter Atkinson on peter@fia.org.za
