On the occasion of the 44th FANAF General Assembly, held from 17 to 20 February 2020, a FANAF/CIMA roundtable meeting has been organised to address the challenges faced by the insurance market.
To cope with the systemic risks, FANAF advocates the implementation of certain preventive measures such as the creation of a guarantee fund to protect the insured in the event of bankruptcy of an insurance company. This fund reinforces other measures already put into place such as the separation of life and non-life activities, the raising of the minimum capital required and the strengthening of the shareholder's equity.
Participants also deplored an increasingly restrictive tax regime for insurance companies. In some countries, the latter face a direct levy on turnover, a VAT on life premiums or the taxation of claims settlement bonus. As a reminder, the 2020 FANAF event brought together more than 1 200 participants from 50 countries.