Newsletter
MOF PLANS TO MAKE INSUR-ERS GO PUBLIC
The Department of Insurance (DOI), Ministry of Finance (MOF), has recently decided that to promote transparency of information, it will seek to amend the Insurance Act to make it a man-datory requirement for all insurance companies to become public companies, except with MOF permission. As public companies, they will be required to regularly publish financial reports. This will open insurance companies' financial reports and financial status to the Securities and Futures Commission, the DOI, and the direct scrutiny of the market.