Insurance Companies

Every insurance company in Guyana is required to be registered under the Insurance Act 1998 by the Commissioner. Following this examination which considers, inter alia, the financial position of the applicant, its corporate structure and management, its ability to comply with the provisions of the Act and all other business, the company may be conducting or wish to conduct, the successful applicant must demonstrate on an on-going basis that it is conducting its business appropriately.

On-going supervision is performed generally through regular reporting in a format prescribed by the Commissioner on the company’s financial position, both past and expected future. In addition the OCI may request additional information or have meetings with various company representatives among other options available to it.

OCI’s objective is to provide efficient supervision that allows it to carry out its mandate in a manner that positively promotes the industry and encourages good business. This section of the website aims to provide the public and industry with information that assists in this objective.

Information about complaints against insurance companies can be found under Complaints & Disputes. Information on which companies are registered and what types of business they are registered for can be found under Registers.

New Update

Version 3.2 of the Draft Regulations - Insurance Companies Accounts & Forms has been replaced by Version 3.3.

See Related Documents above.