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Congo: A joint ARCA-IGF mission to enforce the insurance code

07/03/2022
Categories: General Information

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The Director General of the Insurance Regulation and Control Authority (Arca), Alain Kanyinda Ngalula, and the Inspector General of Finance, Jules Alingete, have announced a joint mission to enforce the insurance law. The objective is to maximize tax revenue for the Congolese state.

A joint mission is in perspective to recall the obligation to strictly respect the law of March 17, 20215 which prohibits the taking out of direct insurance abroad, for a risk concerning a person, property or liability located on national territory, or with a company not approved by the ARCA to carry out insurance operations in the Democratic Republic of Congo (DRC). According to Arca estimates, only 7% of the insurance market is actually captured. The rest is divided between premiums written abroad, fronting and uncontrolled reinsurance, or segments not fully addressed.

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