The government determined to regulate the insurance activity

After two years of talks with the companies, the government stands firm on the adoption of a bill that regulates the insurance sector. Among the main provisions envisaged by the authorities: the implementation of the regulations of the banking sector to insurance companies in order to restrict shareholding concentration, the separation of life and non life insurance activities, and finally the opening of the market to foreign firms.
In addition, the new law is expected to grant Financial Services Commission (FSC) a regulatory power of the sector.