Benin Insurance Industry – Governance, Risk and Compliance
- Pages: 50
- Published: June 2021
- Report Code: GDIS0131RR
GlobalData’s ‘Benin Insurance Industry – Governance, Risk and Compliance’ report is the result of extensive research into the insurance regulatory framework in Benin.
It provides detailed analysis of the insurance regulations for life, property, motor, liability, personal accident and health, and marine, aviation and transit insurance. The report specifies various requirements for the establishment and operation of insurance and reinsurance companies and intermediaries.
The report brings together GlobalData’s research, modeling and analysis expertise, giving insurers access to information on prevailing insurance regulations, and recent and upcoming changes in the regulatory framework, taxation and legal system in the country. The report also includes the scope of non-admitted insurance in the country.
– Benin insurance industry is regulated by the CRCA at the regional level and by the DCA at the national level.
– Key classes of compulsory insurance include motor third-party liability insurance and professional indemnity insurance for insurance intermediaries.
– Insurance companies from CIMA member states are permitted to operate in Benin without a license.
– Composite insurance is not permitted in Benin.
– 100% FDI is permitted in the Beninese insurance industry.
The report provides insights into the governance, risk, and compliance framework pertaining to the insurance industry in Benin, including –
– An overview of the insurance regulatory framework in Benin.
– The latest key changes, and changes expected in the country’s insurance regulatory framework.
– Key regulations and market practices related to different types of insurance product in the country.
– Rules and regulations pertaining to key classes of compulsory insurance, and the scope of non-admitted insurance in the country
– Key parameters including licensing requirements permitted foreign direct investment, minimum capital requirements, solvency and reserve requirements, and investment regulations.
– Details of the tax and legal systems in the country.
– The report covers details of the insurance regulatory framework in Benin.
– The report contains details of the rules and regulations governing insurance products and insurance entities.
– The report lists and analyzes key trends and developments pertaining to the country’s insurance regulatory framework.
– The report analyzes the rules and regulations pertaining to the establishment and operation of insurance businesses in the country.
– The report provides details of taxation imposed on insurance products and insurance companies.
Reasons to buy
– Provides FAQ-style analytical insights comprising 129 knowledge elements on insurance compliance applicable to the country.
– Gain insights into the insurance regulatory framework in Benin.
– Track the latest regulatory changes, and expected changes impacting the Benin insurance industry.
– Gain detailed information about the key regulations governing the establishment and operation of insurance entities in the country.
– Understand key regulations and market practices pertaining to various types of insurance product.
Table of Contents
Table of Contents
Supervision and Control
Non-Admitted Insurance Regulations
Company Registration and Operation
Foreign Direct Investment / Ownership
Minimum Capital Requirements
Statutory Return Requirements
Tax on Insurance Premium
Corporate Income Tax
Corporate Capital Gains Tax
Value Added Tax