Insurance Act, 2017 (Act No. 18 of 2017)

Chapter 2 : Conducting Insurance Business and Insurance Group Business

Part 4 : Insurance groups

11. Responsibility of board of directors of controlling company
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(1) The board of directors of a controlling company is responsible for meeting the requirements imposed on a controlling company and an insurance group under this Act.

 

(2) The board of directors of a controlling company must, as soon as reasonably possible, notify the Prudential Authority of any change in the structure or material change in the risk profile of the insurance group that may impact on the scope of the insurance group designated under section 10.