Thursday, October 18, 2018
Working Towards Financial Stability For The Benefit Of The People
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Supervision
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- Integrity and AML-CFT supervision
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- AML/CFT State Ordinance
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- Bela Yen
Supervision - Insurance companies
On July 1 2001, the State Ordinance on the Supervision of the Insurance Business (SOSIB in Dutch, English ) (AB 2000 no. 82) was enacted. This ordinance provides the CBA with a solid legal framework to supervise life and general insurance companies, both onshore and offshore.
Insurance companies operating in or from Aruba need to obtain a license from the CBA to conduct their activities. Reference is made to the CBA's admission policy for insurance companies. Licensed institutions have to comply continuously with the CBA's supervisory directives and guidelines for insurance companies.