Section 5(1) of the Insurance Act 2017

Guidance on conducting insurance business in terms of section 5 of the Insurance Act

By Janice Roberts

By Claudia Eisenberg Jackson, Norton Rose Fulbright. Section 5(1) of the Insurance Act 2017 prohibits any person from conducting insurance (including reinsurance) business in South Africa unless licensed under the Act. Under section 5(2), a foreign re/insurer will be regarded as conducting insurance business in South Africa if that foreign re/insurer, or another person on...