Objectives

 

1.To administer regulatory and supervisory responsibilities in accordance with the Insurance Act 1995

2. To encourage development and growth in the general insurance industry to support development in the economy.
3.To monitor solvency and financial performance of licensed reinsurers, insurers, broker and loss adjusters;

4. To ensure that the industry meets its obligations to the policyholders; and

5. To ensure competition and fair insurance practices prevail in the insurance industry.

Corporate Objectives

1.Srong and Robust General Insurance Regulatory Framework

2.Effective Consultation and Communication with all stakeholders

3.All yearly regulatory assessments and reporting are done diligently and competently, and in a timely manner

4.Provide advice to government and all stakeholders on industry matters

5.Having motivated staff that are qualified and competent to carry out their duties with due diligence

6.Effective use of technology to enhance OIC operations in accordance with its mandate