The Namibia Financial Institutions Supervisory Authority (NAMFISA) was established
by an Act of Parliament (Act No. 3 of 2001) and is mandated to regulate and supervise
the business of financial institutions and financial services.
The Long and Short-Term Insurance Acts both require that no person shall carry on
the business of an insurance agent or broker or a reinsurance broker, excluding noncommission
earning employees of a registered insurer, in Namibia unless such person is
registered to carry on such business.
The law further prohibits the person(s) from transacting long-term or short-term
insurance business with an unregistered insurance agent or broker or reinsurance broker
and doing so may result in a criminal conviction.
Any person found guilty of contravening the law, will upon conviction, be liable to a
fine not exceeding N$150 000 or to imprisonment for a period not exceeding ten years
or both such fine and imprisonment.
NAMFISA hereby notifies the public that, should an insurance agent, insurance broker
or reinsurance broker fail to provide their proof of registration, then such agent or broker
should be reported to the Registrar of Long-term and Short-term insurance by lodging
a complaint with our Complaints Department at: (061) 290 5000 (main) or 290 5133
(Ms Marina K Ishidhimba) or 290 5207 (Ms Hilka Alberto), Fax: (061) 290 5122;
for online complaints email complaints@namfisa.com.na; visit www.namfisa.com.
na or visit us on the: 6th Floor, Alexander Forbes House, 154 Independence Avenue,
Windhoek.
* NAMFISA treats all information obtained from the public
with confidentiality.
Issued by:
Phillip N. Shiimi
REGISTRAR: LONG AND SHORT-TERM INSURANCE
