To ensure the proper functioning of the insurance sector and to promote its development, the Authority (ACAPS) is responsible for the sector’s organization and its structure.
ACAPS is competent to issue or withdraw licenses relating to carrying out insurance and reinsurance business or to the presentation of insurance operations by insurance intermediaries and the alternative network.
It is thus responsible for issuing licenses and authorizations relating to:
- The practice of insurance and reinsurance by an insurance and reinsurance company (granting the license, extension of the license…)
- The presentation of insurance operations by insurance intermediaries and the alternative network
- The transfer of portfolio of contracts and / or claims from one insurance and reinsurance company to another
- The merger between Insurance and Reinsurance Companies
- The takeover of an insurance and reinsurance company.
Approval process
Pursuant to Article 165 of Law No. 17-99 with the Insurance Code, the application for approval submitted by the relevant company is established in duplicate and must mention the category or categories of transactions that the company proposes to carry out.
This application is accompanied by specific documents.