The Insurance Bill forms part of the Twin Peaks reforms and provides a consolidated legal framework for the prudential regulation and supervision (by which is meant measures to ensure that the institution is and remains financially sound) of  insurers,  reinsurers, branches of foreign reinsurers, insurance groups, micro insurers and Lloyd's in South Africa. The Insurance Bill will repeal substantial portions of the Long-term Insurance Act, 52 of 1998 and the Short-term Insurance Act, 53 of 1998 dealing with prudential supervision.

The Insurance Bill can be accessed here.

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