ARTICLE
10 February 2016

New Insurance Bill Tabled In South African Parliament

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Clyde & Co

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Clyde & Co is a leading, sector-focused global law firm with 415 partners, 2200 legal professionals and 3800 staff in over 50 offices and associated offices on six continents. The firm specialises in the sectors that move, build and power our connected world and the insurance that underpins it, namely: transport, infrastructure, energy, trade & commodities and insurance. With a strong focus on developed and emerging markets, the firm is one of the fastest growing law firms in the world with ambitious plans for further growth.
A new Insurance Bill was tabled in Parliament on Friday the 29th of January 2016.
South Africa Insurance

A new Insurance Bill was tabled in Parliament on Friday the 29th of January 2016.

The Bill has undergone a number of changes from the version proposed during 2015 and provides an overarching framework for conducting insurance business and insurance group business by insurers, branches of foreign reinsurers, Lloyd's and insurance groups, micro-insurance and the general principals and framework for financial soundness, governance, and the conduct of insurance business or insurance group business. The Bill has the potential to impact all insurers' businesses. If you require assistance please contact Ernie van der Vvyer or Johann Spies for additional information.

For the full text of the Bill, please click here.

New Insurance Bill Tabled In South African Parliament

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