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instructed to have no more than two non-Ugandans in their

top management, with one of the top two being Ugandan.

That same regulation also required at least half the

members of the board of directors of each insurance

company to reside inside Uganda. These measures were

aimed at encouraging the development of local talent and

capacity building within the industry.

9. Maldives - The Maldives Monetary Authority (MMA) is the

central bank of the Maldives and the main regulator of the

financial sector in the country. Established in 1981, the

MMA derives its scope, regulatory powers and mandate

from the MMA Act (1981). The MMA makes regulations for

the proper exercise of its supervisory function over

insurance undertakings and market intermediaries. [13]

References:

1. The Journal of Insurance Institute of India, volume
No. IV - Issue No. IV
2. www.ibef.org

3. http://www.swissre.com/library/archive/A_History_o

f_Insurance.html
4. http://www.mumbaimylove.com/26-july-flood/
5. www.irdai.gov.in

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