3 Hrs
Source:
عين ليبيا
New rules reshape the Insurance Market oversight
The Ministry of Economy and Trade of the Government of National Unity in Libya announced the issuance of the first comprehensive regulation for reinsurance and risk management, aimed at developing the insurance sector and enhancing its capacity to face major risks. The new regulation, Decree No. (374) of 2026, governs reinsurance companies, their branches, and representation offices, and sets binding standards based on financial solvency and international credit ratings to improve sector efficiency and strengthen financial stability. This regulation seeks to manage risks more effectively, reduce concentration in insurance portfolios, and increase transparency and governance, thereby boosting investor confidence and supporting major projects and infrastructure in Libya. This step is considered one of the largest reforms in the Libyan insurance sector in recent years, providing a comprehensive regulatory framework aligned with international standards.
Size: 120%Text Size
Notice: This Is an AI-Generated Summary
Comments (0)