The Tanzania National Reinsurance Corporation (Establishment) (Amendment) Order, 2023

This section gives the Order its short citation name and says it must be read together with the principal Order.

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Jurisdiction: Tanzania
Instrument: Order
Citation: The Tanzania National Reinsurance Corporation (Establishment) (Amendment) Order, 2023
Version: Undated source snapshot
Language: en
Official source: View official record ↗

amendment amendment order capital allocation corporate reinsurance establishment order amendment rates reinsurance

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This section gives the Order its short citation name and says it must be read together with the principal Order. This amendment changes the capital percentages in paragraph 7 and replaces the word “fifteen” with “twenty five” in subparagraph (4). This provision amends paragraph 12(2) by replacing item (g) with new rate language for policy cessation and treaty cessions.

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Provisions of The Tanzania National Reinsurance Corporation (Establishment) (Amendment) Order, 2023

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1
This Order may be cited as the Tanzania National
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AI-assisted research summary: This section gives the Order its short citation name and says it must be read together with the principal Order.

1. This Order may be cited as the Tanzania National Reinsurance Corporation (Establishment) (Amendment) Order, 2022 and shall be read as one with the Tanzania National Reinsurance Corporation (Establishment) Order hereinafter referred to as the “principal Order”.
2
The principal Order is amended in paragraph 7
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AI-assisted research summary: This amendment changes the capital percentages in paragraph 7 and replaces the word “fifteen” with “twenty five” in subparagraph (4).

2. The principal Order is amended in paragraph 7 by deleting: (a) items (a), (b), (c), (d), (e) and (f) appearing in subparagraph (2) and substituting for them the following: “(i) 2% of capital to individual persons; (ii) 5% of capital to Tanzania corporate bodies; (iii) 20% of capital to registered insurance companies; (iv) 3% of capital to registered insurance and reinsurance brokers, agents and loss assessors; (v) 45% of capital institutions; and (vi) 25% of capital to foreign participants.”; and to Government (b) the word “fifteen” appearing in subparagraph (4) and substituting for it the words “twenty five”. 1 Tanzania National Reinsurance Corporation (Establishment) (Amendment) GN. NO. 2 (Contd.) Amendment of paragraph 12
3
The principal Order is amended in paragraph
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AI-assisted research summary: This provision amends paragraph 12(2) by replacing item (g) with new rate language for policy cessation and treaty cessions.

3. The principal Order is amended in paragraph 12(2) by deleting item (g) and substituting for it the following: treaty cessation shall “(g) policy and continue indefinitely at the following rates: (i) policy cessation at the rate of 10%; and (ii) treaty cessions at the rate of 20%.”. Dodoma, 31st December, 2022 SAMIA SULUHU HASSAN, President 2

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The Tanzania National Reinsurance Corporation (Establishment) (Amendment) Order, 2023

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Provisions of The Tanzania National Reinsurance Corporation (Establishment) (Amendment) Order, 2023

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