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Governance, Risk and Compliance - The Paraguayan Insurance Industry, GlobalData

Governance, Risk and Compliance - The Paraguayan Insurance Industry, GlobalData

  • March 2018
  • 52 pages
  • ID: 5473947
In this report:
An insurance company should hold its annual general meeting within four months from the date of the closure of the financial year on June ##.
GlobalData is a leading provider of online data, analysis and advisory services on key financial and industry sectors.
Insurance companies must submit to SIS a proposed agreement, its most recent financial statement and any other documents as required by SIS.

Summary

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Governance, Risk and Compliance - The Paraguayan Insurance Industry

Brief

"Governance, Risk and Compliance - The Paraguayan Insurance Industry", is a exhaustive source of analysis of the insurance regulatory framework for life, property, motor, liability, personal accident and health, marine, aviation and transit insurance in Paraguay. The industry report specifies several requirements for the establishment and operation of insurance and reinsurance companies and intermediaries.

The study offers insurers with access to information on prevailing insurance regulations, and new and imminent changes in the regulatory framework, taxation and legal system in the country. The analysis also comprises the scope of non-admitted insurance in the country.

The study offers business insights into the governance, risk and compliance framework pertaining to the insurance industry in Paraguay, including -

- An overview of the insurance regulatory framework in Paraguay.

- The recent main changes, and changes expected in the country's insurance regulatory framework.

- Key regulations and market practices related to distinct types of insurance product in the country.

- Rules and regulations pertaining to top classes of compulsory insurance, and the scope of non-admitted insurance in Paraguay.

- 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.

Some of the Key Takeaway's of the report are -

- The Superintendent of Insurance is the government authority responsible for the supervision and control of insurance and reinsurance companies and insurance intermediaries.

- Composite insurance is not permitted in the Paraguayan insurance industry, but both life and property insurance companies can underwrite and sell accident and health insurance.

- FDI up to 100.0 percent is permitted in the Paraguayan insurance industry.

- Non-life insurance products are subject to VAT at a rate of 10.0 percent, whereas life insurance products are exempt from VAT in Paraguay.

- The placement of non-admitted insurance and reinsurance by unauthorized insurers and reinsurers is not permitted in the Paraguayan insurance industry.

Overview

- The industry report includes details of the insurance regulatory framework in Paraguay.

- The study contains details of the rules and regulations governing insurance products and insurance entities.

- The report lists and analyzes main trends and developments pertaining to the country's insurance regulatory framework.

- The analysis examines the rules and regulations pertaining to the establishment and operation of insurance businesses in the country.

- The market research offers details of taxation imposed on insurance products and insurance companies.

Great reasons to purchase

- Gain insights into the insurance regulatory framework in Paraguay.

- Track the recent regulatory changes, and expected changes impacting the Paraguayan insurance industry.

- Gain detailed information about the top regulations governing the establishment and operation of insurance entities in the country.

- Understand main regulations and market practices pertaining to different types of insurance product.

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