The Chief Executive also announced that the FSC is actually finalising the new Regulations to allow the licensing of third party captive insurers to give a new boost to the captives segment of this industry. He further spoke on the role of disruptive and transformational technologies and highlighted that “The FSC will continue to be forward-looking and will shape regulatory frameworks to cater for the emerging insurance landscape on topical issues such as FinTech, Insurtech, Artificial Intelligence, Robotics and Cyber security amongst others.”
The FSC Chief Executive also extended his congratulations to the incoming President of the Insurer’s Association, Mr Bertrand Casteres, Chief Executive Officer of the Mauritius Union Assurance. He also thanked Mr Derek Wong, the outgoing President, for his dedication over the past two years in steering the Association.