Djibouti, Africa


Djibouti, AfricaDjibouti, Africa – World Insurance Companies Logos. By clicking on the logo of each insurance company in DJIBOUTI can obtain a set of update information that each insurer is offered by the Internet.


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Djibouti press

LAW NO. 40/AN/99/4ÈME 

Prospects of the insurance

Since 2001, the insurance sector in Djibouti has been in other insurance markets in the world, both in the organization and functioning at the level of the regulatory environment.

There are insurance companies of national law with a technical operation and autonomous who use to develop their international reinsurance underwriting capabilities and protect against loss differences.

There is a control state with powers of investigation the most extensive to verify compliance of the accounts of insurance companies and assess their creditworthiness.

This modernization of the insurance sector is expected to continue in the coming years with the strengthening of state control and the development of the insurance market.

Indeed, it is not enough to have the right of insurance companies to access national independence in insurance.

It also requires that these companies have a financial base sufficient to maintain much of their production and reduce their dependence on reinsurance.

This increased storage capacity market requires increased minimum capital requirements which currently stands at 100 million Fdj.

Car insurance representing the bulk of sales of insurance companies, their solvency is mainly based on the strict application of the regulation of insurance in compensation for victims of personal injury traffic. Indeed, any deviation in the judicial compensation distort their technical provisions and therefore their results.

The development of insurance also involves the rejection of any form of relocation insurance risks situated on national territory subject to possible derogation for certain risks new or unfamiliar rejected by the local market.
To preserve the national economy, a fire insurance obligation could be introduced for industrial and commercial activities.

The insurance person as life insurance or Medicare may overcome the shortcomings of the public pension system and generate savings in the long term can contribute to the financing of economic development.

To do this, it would be wise operations life insurance benefit from tax incentives such as exemption from tax on insurance contracts or non-taxation of capital insured at the output.

With regard to the control of the State, including its effectiveness requires the effective implementation of its recommendations, capacity building controllers through training and periodic updating of regulations to improve and update the financial rules and safeguards and recovery of insurance companies

From Department finances in Djibouti

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Djibouti, Africa – World Insurance Companies Logos

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