CHAPTER 43 / 55 · Paid
Long-term, general, external and professional reinsurance, including PCC twins.
Follow each insurer shop. A cell is not a separate insurer by default. Captive insurance is a different Act.
Approx. 24 min with exercisesLaw cut-off: 20 September 2026Our approach
By the end of this chapter
- Describe the shop in one paragraph from the first file on the desk.
- Decide the promoter’s next asks: which stay on this letter, which need another paper.
- Keep neighbouring permissions off this desk.
- Cite the enabling section and treat the licence letter as the book.
How this family is grouped
Follow each insurer shop. A cell is not a separate insurer by default. Captive insurance is a different Act. Each code below is its own shop: a first file, a week, the asks that need a different paper, then the letter. A quieter label is not a thinner file.
INS-1.1 Long-Term Insurance Business
FSC · INS-1.1 · Licence
1. LifeIsle Ltd’s shop
LifeIsle Ltd is the desk this chapter is for. Carry on long-term insurance business under a section 11 licence.
The first file on the desk is this. LifeIsle Ltd will write ordinary life policies for Mauritian residents. INS-1.1.
Three facts have to stay true of that book. First, the letter is the activity specified. This is a licence under Insurance Act 2005, Section 11 (restriction in section 7). A company name is not a permission.
Second, neighbouring papers stay off this desk. Not general insurance, not the PCC twin, not captive insurance, and not a pension scheme.
Third, the assumptions stay in the file. Fictional insurer. Cut-off 20 September 2026.
Insurance Act 2005, Section 11 (restriction in section 7). See the register note · Open the published text ↗.
2. A week with A domestic life office
Monday. The promoter walks in with “A domestic life office.” Write the facts before anyone names a code: LifeIsle Ltd will write ordinary life policies for Mauritian residents.
Tuesday. The team writes the activity in the words of the licence letter, not the brass plate. Carry on long-term insurance business under a section 11 licence.
Wednesday. They record what this permission is used for. INS-1.1.
Thursday. They write what the letter does not cover. Not INS-1.2 and not PPS-1.1.
Friday. They lock the assumptions. Fictional insurer. Cut-off 20 September 2026. The file is ready for the application, not for a slogan on a slide.
The other files on this desk should look like that first one: a named person, a specified activity, and a letter that matches the work. That is what INS-1.1 is used for. The Act matters when LifeIsle Ltd applies, when the Commission writes conditions onto the letter, and when the same promoter telephones with a different idea.
3. What the same promoter asks next
The facts are fictional. The method is the course: keep the shop you have just watched, and ask which desk is now doing the work.
This licence
A domestic life office
LifeIsle Ltd will write ordinary life policies for Mauritian residents.
Why it fits. INS-1.1.
Different paper
The same promoter asks for general insurance
The slide says the INS-1.1 letter already covers it because the same company, the same officers or the same client are on the file.
Why it does not. Keep the neighbouring paper off this desk. Not INS-1.2 and not PPS-1.1.
Different paper
The same promoter asks for the PCC twin
The slide says the INS-1.1 letter already covers it because the same company, the same officers or the same client are on the file.
Why it does not. Keep the neighbouring paper off this desk. Not INS-1.2 and not PPS-1.1.
| The promoter asks LifeIsle Ltd to… | This licence? | Why |
|---|---|---|
| A domestic life office | Yes | INS-1.1. |
| The same promoter asks for general insurance | No | Keep the neighbouring paper off this desk. Not INS-1.2 and not PPS-1.1. |
| The same promoter asks for the PCC twin | No | Keep the neighbouring paper off this desk. Not INS-1.2 and not PPS-1.1. |
4. Papers that sit beside this one
Not general insurance, not the PCC twin, not captive insurance, and not a pension scheme. Name the other desk when the work changes: general insurance; the PCC twin; captive insurance; a pension scheme.
- general insurance
- the PCC twin
- captive insurance
- a pension scheme
Neighbouring codes have their own chapters. Do not import their books into this letter.
5. The letter and the file
The long-term insurer. Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. Fees as at 1 July 2026: Processing fee Rs 102,000. Status at cut-off: Published insurer category as at 1 July 2026.
Who may hold it. The long-term insurer. Agents and brokers are other codes.
Published criteria. Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars. Dedicated insurer form and criteria.
Rules, codes and circulars. CL20260107 for the fee review. Insurance Act computations remain in that Act and in tax law separately.
6. How to cite INS-1.1
| Coordinate | As at 20 September 2026 |
|---|---|
| Directory code | INS-1.1 Long-Term Insurance Business |
| Legal nature | Licence |
| Enabling law | Insurance Act 2005 · Section 11 (restriction in section 7) |
| Fees as at 1 July 2026 | Processing fee Rs 102,000. Fixed annual fee Rs 169,000. Variable: 0.35% of gross premium from policies issued on or after 1 July 2008. Structured investment-linked business: 0.35% of gross premium to a maximum of USD 10,000. Variable annual fees for insurer rows are payable within 20 days after the end of every quarter in September, December, March and June, as the directory footnote states. Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises. |
| Status at cut-off | Published insurer category as at 1 July 2026. |
The structured library card keeps the same coordinates for search. Open INS-1.1 in the reference library.
FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Register noteInsurance Act 2005 ↗Register noteFSC licensing and fees amendment rules 2026 ↗Register noteFSC Circular Letter CL20260107 — review of fees and renewal of licences ↗Register noteFSC rules and regulations directory ↗Register note
INS-1.1Av Long-Term Insurance Business (Protected Cell Company)
FSC · INS-1.1Av · Licence
1. A life PCC with two cells’s shop
A life PCC with two cells is the desk this chapter is for. Long-term insurance in PCC form.
The first file on the desk is this. LifeCells PCC will write a participating cell and a unit-linked cell. INS-1.1Av.
Three facts have to stay true of that book. First, the letter is the activity specified. This is a licence under Insurance Act 2005, Section 11. A company name is not a permission.
Second, neighbouring papers stay off this desk. Not INS-1.1 (non-PCC), not a CIS PCC, and not a cell as a separate insurer by slogan.
Third, the assumptions stay in the file. Fictional PCC. Cut-off 20 September 2026.
Insurance Act 2005, Section 11. See the register note · Open the published text ↗.
2. A week with A life PCC with two cells
Monday. The promoter walks in with “A life PCC with two cells.” Write the facts before anyone names a code: LifeCells PCC will write a participating cell and a unit-linked cell.
Tuesday. The team writes the activity in the words of the licence letter, not the brass plate. Long-term insurance in PCC form.
Wednesday. They record what this permission is used for. INS-1.1Av.
Thursday. They write what the letter does not cover. Not two INS-1.1 companies by default.
Friday. They lock the assumptions. Fictional PCC. Cut-off 20 September 2026. The file is ready for the application, not for a slogan on a slide.
The other files on this desk should look like that first one: a named person, a specified activity, and a letter that matches the work. That is what INS-1.1Av is used for. The Act matters when A life PCC with two cells applies, when the Commission writes conditions onto the letter, and when the same promoter telephones with a different idea.
3. What the same promoter asks next
The facts are fictional. The method is the course: keep the shop you have just watched, and ask which desk is now doing the work.
This licence
A life PCC with two cells
LifeCells PCC will write a participating cell and a unit-linked cell.
Why it fits. INS-1.1Av.
Different paper
The same promoter asks for INS-1.1 (non-PCC)
The slide says the INS-1.1Av letter already covers it because the same company, the same officers or the same client are on the file.
Why it does not. Keep the neighbouring paper off this desk. Not two INS-1.1 companies by default.
Different paper
The same promoter asks for CIS PCC
The slide says the INS-1.1Av letter already covers it because the same company, the same officers or the same client are on the file.
Why it does not. Keep the neighbouring paper off this desk. Not two INS-1.1 companies by default.
| The promoter asks A life PCC with two cells to… | This licence? | Why |
|---|---|---|
| A life PCC with two cells | Yes | INS-1.1Av. |
| The same promoter asks for INS-1.1 (non-PCC) | No | Keep the neighbouring paper off this desk. Not two INS-1.1 companies by default. |
| The same promoter asks for CIS PCC | No | Keep the neighbouring paper off this desk. Not two INS-1.1 companies by default. |
4. Papers that sit beside this one
Not INS-1.1 (non-PCC), not a CIS PCC, and not a cell as a separate insurer by slogan. Name the other desk when the work changes: INS-1.1 (non-PCC); a CIS PCC; a cell as a separate insurer by slogan.
- INS-1.1 (non-PCC)
- a CIS PCC
- a cell as a separate insurer by slogan
Neighbouring codes have their own chapters. Do not import their books into this letter.
5. The letter and the file
The PCC long-term insurer. Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. Fees as at 1 July 2026: Processing USD 2,500 for the first cell and USD 750 for every additional cell. Status at cut-off: Published PCC insurer category as at 1 July 2026.
Who may hold it. The PCC long-term insurer. Cells are fee and segregation units.
Published criteria. Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars.
Rules, codes and circulars. CL20260107 for the fee review.
6. How to cite INS-1.1Av
| Coordinate | As at 20 September 2026 |
|---|---|
| Directory code | INS-1.1Av Long-Term Insurance Business (Protected Cell Company) |
| Legal nature | Licence |
| Enabling law | Insurance Act 2005 · Section 11 |
| Fees as at 1 July 2026 | Processing USD 2,500 for the first cell and USD 750 for every additional cell. Annual USD 3,800 for the first cell and USD 750 for every additional cell. Variable 0.35% of gross premium (structured ILP cap USD 10,000). Variable annual fees for insurer rows are payable within 20 days after the end of every quarter in September, December, March and June, as the directory footnote states. |
| Status at cut-off | Published PCC insurer category as at 1 July 2026. |
The structured library card keeps the same coordinates for search. Open INS-1.1Av in the reference library.
FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Register noteInsurance Act 2005 ↗Register noteFSC licensing and fees amendment rules 2026 ↗Register noteFSC Circular Letter CL20260107 — review of fees and renewal of licences ↗Register noteFSC rules and regulations directory ↗Register note
INS-1.2 General Insurance Business
FSC · INS-1.2 · Licence
1. CoverIsle Ltd’s shop
CoverIsle Ltd is the desk this chapter is for. Carry on general insurance business.
The first file on the desk is this. CoverIsle Ltd will write motor and householders policies. INS-1.2.
Three facts have to stay true of that book. First, the letter is the activity specified. This is a licence under Insurance Act 2005, Section 11. A company name is not a permission.
Second, neighbouring papers stay off this desk. Not long-term, not external insurance, and not a TPA.
Third, the assumptions stay in the file. Fictional insurer. Cut-off 20 September 2026.
Insurance Act 2005, Section 11. See the register note · Open the published text ↗.
2. A week with A motor and property insurer
Monday. The promoter walks in with “A motor and property insurer.” Write the facts before anyone names a code: CoverIsle Ltd will write motor and householders policies.
Tuesday. The team writes the activity in the words of the licence letter, not the brass plate. Carry on general insurance business.
Wednesday. They record what this permission is used for. INS-1.2.
Thursday. They write what the letter does not cover. Not INS-1.1. Not a broker.
Friday. They lock the assumptions. Fictional insurer. Cut-off 20 September 2026. The file is ready for the application, not for a slogan on a slide.
The other files on this desk should look like that first one: a named person, a specified activity, and a letter that matches the work. That is what INS-1.2 is used for. The Act matters when CoverIsle Ltd applies, when the Commission writes conditions onto the letter, and when the same promoter telephones with a different idea.
3. What the same promoter asks next
The facts are fictional. The method is the course: keep the shop you have just watched, and ask which desk is now doing the work.
This licence
A motor and property insurer
CoverIsle Ltd will write motor and householders policies.
Why it fits. INS-1.2.
Different paper
The same promoter asks for long-term
The slide says the INS-1.2 letter already covers it because the same company, the same officers or the same client are on the file.
Why it does not. Keep the neighbouring paper off this desk. Not INS-1.1. Not a broker.
Different paper
The same promoter asks for external insurance
The slide says the INS-1.2 letter already covers it because the same company, the same officers or the same client are on the file.
Why it does not. Keep the neighbouring paper off this desk. Not INS-1.1. Not a broker.
| The promoter asks CoverIsle Ltd to… | This licence? | Why |
|---|---|---|
| A motor and property insurer | Yes | INS-1.2. |
| The same promoter asks for long-term | No | Keep the neighbouring paper off this desk. Not INS-1.1. Not a broker. |
| The same promoter asks for external insurance | No | Keep the neighbouring paper off this desk. Not INS-1.1. Not a broker. |
4. Papers that sit beside this one
Not long-term, not external insurance, and not a TPA. Name the other desk when the work changes: long-term; external insurance; a TPA.
- long-term
- external insurance
- a TPA
Neighbouring codes have their own chapters. Do not import their books into this letter.
5. The letter and the file
The general insurer. Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. Fees as at 1 July 2026: Processing fee Rs 102,000. Status at cut-off: Published insurer category as at 1 July 2026.
Who may hold it. The general insurer.
Published criteria. Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars.
Rules, codes and circulars. CL20260107 for the fee review. The Finance Act 2026 general-insurance premium tax starts 1 January 2027 — a future tax measure, not this licence.
6. How to cite INS-1.2
| Coordinate | As at 20 September 2026 |
|---|---|
| Directory code | INS-1.2 General Insurance Business |
| Legal nature | Licence |
| Enabling law | Insurance Act 2005 · Section 11 |
| Fees as at 1 July 2026 | Processing fee Rs 102,000. Fixed annual fee Rs 169,000. Variable: 0.35% of gross premium. Variable annual fees for insurer rows are payable within 20 days after the end of every quarter in September, December, March and June, as the directory footnote states. Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises. |
| Status at cut-off | Published insurer category as at 1 July 2026. |
The structured library card keeps the same coordinates for search. Open INS-1.2 in the reference library.
FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Register noteInsurance Act 2005 ↗Register noteFSC licensing and fees amendment rules 2026 ↗Register noteFSC Circular Letter CL20260107 — review of fees and renewal of licences ↗Register noteFSC rules and regulations directory ↗Register note
INS-1.2Av General Insurance Business (Protected Cell Company)
FSC · INS-1.2Av · Licence
1. A general PCC for affinity groups’s shop
A general PCC for affinity groups is the desk this chapter is for. General insurance in PCC form.
The first file on the desk is this. RiskCells PCC will write a motor cell and a marine cell. INS-1.2Av.
Three facts have to stay true of that book. First, the letter is the activity specified. This is a licence under Insurance Act 2005, Section 11. A company name is not a permission.
Second, neighbouring papers stay off this desk. Not INS-1.2 and not a captive PCC.
Third, the assumptions stay in the file. Fictional PCC. Cut-off 20 September 2026.
Insurance Act 2005, Section 11. See the register note · Open the published text ↗.
2. A week with A general PCC for affinity groups
Monday. The promoter walks in with “A general PCC for affinity groups.” Write the facts before anyone names a code: RiskCells PCC will write a motor cell and a marine cell.
Tuesday. The team writes the activity in the words of the licence letter, not the brass plate. General insurance in PCC form.
Wednesday. They record what this permission is used for. INS-1.2Av.
Thursday. They write what the letter does not cover. Not CI-1.1A captive.
Friday. They lock the assumptions. Fictional PCC. Cut-off 20 September 2026. The file is ready for the application, not for a slogan on a slide.
The other files on this desk should look like that first one: a named person, a specified activity, and a letter that matches the work. That is what INS-1.2Av is used for. The Act matters when A general PCC for affinity groups applies, when the Commission writes conditions onto the letter, and when the same promoter telephones with a different idea.
3. What the same promoter asks next
The facts are fictional. The method is the course: keep the shop you have just watched, and ask which desk is now doing the work.
This licence
A general PCC for affinity groups
RiskCells PCC will write a motor cell and a marine cell.
Why it fits. INS-1.2Av.
Different paper
The same promoter asks for INS-1.2
The slide says the INS-1.2Av letter already covers it because the same company, the same officers or the same client are on the file.
Why it does not. Keep the neighbouring paper off this desk. Not CI-1.1A captive.
Different paper
The same promoter asks for captive PCC
The slide says the INS-1.2Av letter already covers it because the same company, the same officers or the same client are on the file.
Why it does not. Keep the neighbouring paper off this desk. Not CI-1.1A captive.
| The promoter asks A general PCC for affinity groups to… | This licence? | Why |
|---|---|---|
| A general PCC for affinity groups | Yes | INS-1.2Av. |
| The same promoter asks for INS-1.2 | No | Keep the neighbouring paper off this desk. Not CI-1.1A captive. |
| The same promoter asks for captive PCC | No | Keep the neighbouring paper off this desk. Not CI-1.1A captive. |
4. Papers that sit beside this one
Not INS-1.2 and not a captive PCC. Name the other desk when the work changes: INS-1.2; a captive PCC.
- INS-1.2
- a captive PCC
Neighbouring codes have their own chapters. Do not import their books into this letter.
5. The letter and the file
The general-insurance PCC. Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. Fees as at 1 July 2026: Processing USD 2,200 first cell and USD 700 every additional cell. Status at cut-off: Published PCC insurer category as at 1 July 2026.
Who may hold it. The general-insurance PCC.
Published criteria. Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars.
Rules, codes and circulars. CL20260107 for the fee review.
6. How to cite INS-1.2Av
| Coordinate | As at 20 September 2026 |
|---|---|
| Directory code | INS-1.2Av General Insurance Business (Protected Cell Company) |
| Legal nature | Licence |
| Enabling law | Insurance Act 2005 · Section 11 |
| Fees as at 1 July 2026 | Processing USD 2,200 first cell and USD 700 every additional cell. Annual USD 3,400 first cell and USD 700 every additional cell. Variable 0.35% of gross premium. Variable annual fees for insurer rows are payable within 20 days after the end of every quarter in September, December, March and June, as the directory footnote states. |
| Status at cut-off | Published PCC insurer category as at 1 July 2026. |
The structured library card keeps the same coordinates for search. Open INS-1.2Av in the reference library.
FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Register noteInsurance Act 2005 ↗Register noteFSC licensing and fees amendment rules 2026 ↗Register noteFSC Circular Letter CL20260107 — review of fees and renewal of licences ↗Register noteFSC rules and regulations directory ↗Register note
INS-1.3 External Insurance Business**
FSC · INS-1.3 · Licence
1. ExtCover Ltd’s shop
ExtCover Ltd is the desk this chapter is for. External insurance business.
The first file on the desk is this. ExtCover Ltd will insure non-Mauritian property risks from a Mauritius company. INS-1.3 after checking the Act’s “external” definition.
Three facts have to stay true of that book. First, the letter is the activity specified. This is a licence under Insurance Act 2005, Section 11. A company name is not a permission.
Second, neighbouring papers stay off this desk. Not domestic general insurance and not professional reinsurance (INS-1.4).
Third, the assumptions stay in the file. Fictional insurer. Cut-off 20 September 2026.
Insurance Act 2005, Section 11. See the register note · Open the published text ↗.
2. A week with Writing foreign risks from Mauritius
Monday. The promoter walks in with “Writing foreign risks from Mauritius.” Write the facts before anyone names a code: ExtCover Ltd will insure non-Mauritian property risks from a Mauritius company.
Tuesday. The team writes the activity in the words of the licence letter, not the brass plate. External insurance business.
Wednesday. They record what this permission is used for. INS-1.3 after checking the Act’s “external” definition.
Thursday. They write what the letter does not cover. Not INS-1.2 domestic general business by default.
Friday. They lock the assumptions. Fictional insurer. Cut-off 20 September 2026. The file is ready for the application, not for a slogan on a slide.
The other files on this desk should look like that first one: a named person, a specified activity, and a letter that matches the work. That is what INS-1.3 is used for. The Act matters when ExtCover Ltd applies, when the Commission writes conditions onto the letter, and when the same promoter telephones with a different idea.
3. What the same promoter asks next
The facts are fictional. The method is the course: keep the shop you have just watched, and ask which desk is now doing the work.
This licence
Writing foreign risks from Mauritius
ExtCover Ltd will insure non-Mauritian property risks from a Mauritius company.
Why it fits. INS-1.3 after checking the Act’s “external” definition.
Different paper
The same promoter asks for domestic general insurance
The slide says the INS-1.3 letter already covers it because the same company, the same officers or the same client are on the file.
Why it does not. Keep the neighbouring paper off this desk. Not INS-1.2 domestic general business by default.
Different paper
The same promoter asks for professional reinsurance (INS-1.4)
The slide says the INS-1.3 letter already covers it because the same company, the same officers or the same client are on the file.
Why it does not. Keep the neighbouring paper off this desk. Not INS-1.2 domestic general business by default.
| The promoter asks ExtCover Ltd to… | This licence? | Why |
|---|---|---|
| Writing foreign risks from Mauritius | Yes | INS-1.3 after checking the Act’s “external” definition. |
| The same promoter asks for domestic general insurance | No | Keep the neighbouring paper off this desk. Not INS-1.2 domestic general business by default. |
| The same promoter asks for professional reinsurance (INS-1.4) | No | Keep the neighbouring paper off this desk. Not INS-1.2 domestic general business by default. |
4. Papers that sit beside this one
Not domestic general insurance and not professional reinsurance (INS-1.4). Name the other desk when the work changes: domestic general insurance; professional reinsurance (INS-1.4).
- domestic general insurance
- professional reinsurance (INS-1.4)
Neighbouring codes have their own chapters. Do not import their books into this letter.
5. The letter and the file
The external insurer as the Insurance Act defines that business. Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. Fees as at 1 July 2026: Processing fee USD 1,000. Status at cut-off: Published insurer category as at 1 July 2026.
Who may hold it. The external insurer as the Insurance Act defines that business. Read the Act’s definition; do not guess from the asterisks.
Published criteria. Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars.
Rules, codes and circulars. CL20260107 for the fee review. Asterisks on the directory name are retained; they are not treated as a repeal.
6. How to cite INS-1.3
| Coordinate | As at 20 September 2026 |
|---|---|
| Directory code | INS-1.3 External Insurance Business** |
| Legal nature | Licence |
| Enabling law | Insurance Act 2005 · Section 11 |
| Fees as at 1 July 2026 | Processing fee USD 1,000. Fixed annual fee USD 1,900. No variable premium percentage is printed on this row. Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises. |
| Status at cut-off | Published insurer category as at 1 July 2026. Directory punctuation preserved. |
The structured library card keeps the same coordinates for search. Open INS-1.3 in the reference library.
FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Register noteInsurance Act 2005 ↗Register noteFSC licensing and fees amendment rules 2026 ↗Register noteFSC Circular Letter CL20260107 — review of fees and renewal of licences ↗Register noteFSC rules and regulations directory ↗Register note
INS-1.3Av External Insurance Business (Protected Cell Company)
FSC · INS-1.3Av · Licence
1. An external PCC with a catastrophe cell’s shop
An external PCC with a catastrophe cell is the desk this chapter is for. External insurance in PCC form.
The first file on the desk is this. StormCell PCC will write a foreign catastrophe cell. INS-1.3Av.
Three facts have to stay true of that book. First, the letter is the activity specified. This is a licence under Insurance Act 2005, Section 11. A company name is not a permission.
Second, neighbouring papers stay off this desk. Not INS-1.3 non-PCC and not INS-1.4Av.
Third, the assumptions stay in the file. Fictional PCC. Cut-off 20 September 2026.
Insurance Act 2005, Section 11. See the register note · Open the published text ↗.
2. A week with An external PCC with a catastrophe cell
Monday. The promoter walks in with “An external PCC with a catastrophe cell.” Write the facts before anyone names a code: StormCell PCC will write a foreign catastrophe cell.
Tuesday. The team writes the activity in the words of the licence letter, not the brass plate. External insurance in PCC form.
Wednesday. They record what this permission is used for. INS-1.3Av.
Thursday. They write what the letter does not cover. Not a CIS PCC.
Friday. They lock the assumptions. Fictional PCC. Cut-off 20 September 2026. The file is ready for the application, not for a slogan on a slide.
The other files on this desk should look like that first one: a named person, a specified activity, and a letter that matches the work. That is what INS-1.3Av is used for. The Act matters when An external PCC with a catastrophe cell applies, when the Commission writes conditions onto the letter, and when the same promoter telephones with a different idea.
3. What the same promoter asks next
The facts are fictional. The method is the course: keep the shop you have just watched, and ask which desk is now doing the work.
This licence
An external PCC with a catastrophe cell
StormCell PCC will write a foreign catastrophe cell.
Why it fits. INS-1.3Av.
Different paper
The same promoter asks for INS-1.3 non-PCC
The slide says the INS-1.3Av letter already covers it because the same company, the same officers or the same client are on the file.
Why it does not. Keep the neighbouring paper off this desk. Not a CIS PCC.
Different paper
The same promoter asks for INS-1.4Av
The slide says the INS-1.3Av letter already covers it because the same company, the same officers or the same client are on the file.
Why it does not. Keep the neighbouring paper off this desk. Not a CIS PCC.
| The promoter asks An external PCC with a catastrophe cell to… | This licence? | Why |
|---|---|---|
| An external PCC with a catastrophe cell | Yes | INS-1.3Av. |
| The same promoter asks for INS-1.3 non-PCC | No | Keep the neighbouring paper off this desk. Not a CIS PCC. |
| The same promoter asks for INS-1.4Av | No | Keep the neighbouring paper off this desk. Not a CIS PCC. |
4. Papers that sit beside this one
Not INS-1.3 non-PCC and not INS-1.4Av. Name the other desk when the work changes: INS-1.3 non-PCC; INS-1.4Av.
Neighbouring codes have their own chapters. Do not import their books into this letter.
5. The letter and the file
The external-insurance PCC. Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. Fees as at 1 July 2026: Processing USD 1,000 first cell and USD 300 every additional cell. Status at cut-off: Published PCC insurer category as at 1 July 2026.
Who may hold it. The external-insurance PCC.
Published criteria. Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars.
Rules, codes and circulars. CL20260107 for the fee review.
6. How to cite INS-1.3Av
| Coordinate | As at 20 September 2026 |
|---|---|
| Directory code | INS-1.3Av External Insurance Business (Protected Cell Company) |
| Legal nature | Licence |
| Enabling law | Insurance Act 2005 · Section 11 |
| Fees as at 1 July 2026 | Processing USD 1,000 first cell and USD 300 every additional cell. Annual USD 1,900 first cell and USD 400 every additional cell. No variable premium percentage printed. |
| Status at cut-off | Published PCC insurer category as at 1 July 2026. |
The structured library card keeps the same coordinates for search. Open INS-1.3Av in the reference library.
FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Register noteInsurance Act 2005 ↗Register noteFSC licensing and fees amendment rules 2026 ↗Register noteFSC Circular Letter CL20260107 — review of fees and renewal of licences ↗Register noteFSC rules and regulations directory ↗Register note
INS-1.4 Professional Reinsurer**
FSC · INS-1.4 · Licence
1. ReIsle Ltd’s shop
ReIsle Ltd is the desk this chapter is for. Professional reinsurance.
The first file on the desk is this. ReIsle Ltd will accept proportional treaties from African insurers and will not write direct retail policies. INS-1.4.
Three facts have to stay true of that book. First, the letter is the activity specified. This is a licence under Insurance Act 2005, Section 11. A company name is not a permission.
Second, neighbouring papers stay off this desk. Not a direct insurer, not an insurance broker, and not a reinsurance-broker tax item as a substitute for this licence.
Third, the assumptions stay in the file. Fictional reinsurer. Cut-off 20 September 2026.
Insurance Act 2005, Section 11. See the register note · Open the published text ↗.
2. A week with A professional treaty reinsurer
Monday. The promoter walks in with “A professional treaty reinsurer.” Write the facts before anyone names a code: ReIsle Ltd will accept proportional treaties from African insurers and will not write direct retail policies.
Tuesday. The team writes the activity in the words of the licence letter, not the brass plate. Professional reinsurance.
Wednesday. They record what this permission is used for. INS-1.4.
Thursday. They write what the letter does not cover. Not INS-2.3 brokerage and not INS-1.2.
Friday. They lock the assumptions. Fictional reinsurer. Cut-off 20 September 2026. The file is ready for the application, not for a slogan on a slide.
The other files on this desk should look like that first one: a named person, a specified activity, and a letter that matches the work. That is what INS-1.4 is used for. The Act matters when ReIsle Ltd applies, when the Commission writes conditions onto the letter, and when the same promoter telephones with a different idea.
3. What the same promoter asks next
The facts are fictional. The method is the course: keep the shop you have just watched, and ask which desk is now doing the work.
This licence
A professional treaty reinsurer
ReIsle Ltd will accept proportional treaties from African insurers and will not write direct retail policies.
Why it fits. INS-1.4.
Different paper
The same promoter asks for direct insurer
The slide says the INS-1.4 letter already covers it because the same company, the same officers or the same client are on the file.
Why it does not. Keep the neighbouring paper off this desk. Not INS-2.3 brokerage and not INS-1.2.
Different paper
The same promoter asks for an insurance broker
The slide says the INS-1.4 letter already covers it because the same company, the same officers or the same client are on the file.
Why it does not. Keep the neighbouring paper off this desk. Not INS-2.3 brokerage and not INS-1.2.
| The promoter asks ReIsle Ltd to… | This licence? | Why |
|---|---|---|
| A professional treaty reinsurer | Yes | INS-1.4. |
| The same promoter asks for direct insurer | No | Keep the neighbouring paper off this desk. Not INS-2.3 brokerage and not INS-1.2. |
| The same promoter asks for an insurance broker | No | Keep the neighbouring paper off this desk. Not INS-2.3 brokerage and not INS-1.2. |
4. Papers that sit beside this one
Not a direct insurer, not an insurance broker, and not a reinsurance-broker tax item as a substitute for this licence. Name the other desk when the work changes: a direct insurer; an insurance broker; a reinsurance-broker tax item as a substitute for this licence.
- a direct insurer
- an insurance broker
- a reinsurance-broker tax item as a substitute for this licence
Neighbouring codes have their own chapters. Do not import their books into this letter.
5. The letter and the file
The professional reinsurer. Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. Fees as at 1 July 2026: Processing fee Rs 22,500 (USD 1,000). Status at cut-off: Published reinsurer category as at 1 July 2026.
Who may hold it. The professional reinsurer.
Published criteria. Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars.
Rules, codes and circulars. CL20260107 for the fee review.
6. How to cite INS-1.4
| Coordinate | As at 20 September 2026 |
|---|---|
| Directory code | INS-1.4 Professional Reinsurer** |
| Legal nature | Licence |
| Enabling law | Insurance Act 2005 · Section 11 |
| Fees as at 1 July 2026 | Processing fee Rs 22,500 (USD 1,000). Fixed annual fee Rs 52,000 (USD 1,900). No variable premium percentage printed. Unless the directory states a different conversion rule, USD figures apply only to an applicant for a Global Business Licence or a corporation holding a Global Business Licence. FSC Circular Letter CL20260107 (1 July 2026) records that the replacement fee schedule operates from 1 July 2026 and that annual fees are due by 30 September 2026. A circular does not rewrite the activity this code authorises. |
| Status at cut-off | Published reinsurer category as at 1 July 2026. |
The structured library card keeps the same coordinates for search. Open INS-1.4 in the reference library.
FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Register noteInsurance Act 2005 ↗Register noteFSC licensing and fees amendment rules 2026 ↗Register noteFSC Circular Letter CL20260107 — review of fees and renewal of licences ↗Register noteFSC rules and regulations directory ↗Register note
INS-1.4Av Professional Reinsurer (Protected Cell Company)
FSC · INS-1.4Av · Licence
1. A reinsurance PCC’s shop
A reinsurance PCC is the desk this chapter is for. Professional reinsurance in PCC form.
The first file on the desk is this. TreatyCells PCC will run a property-treaty cell and a casualty cell. INS-1.4Av.
Three facts have to stay true of that book. First, the letter is the activity specified. This is a licence under Insurance Act 2005, Section 11. A company name is not a permission.
Second, neighbouring papers stay off this desk. Not INS-1.4 non-PCC and not a captive.
Third, the assumptions stay in the file. Fictional PCC. Cut-off 20 September 2026.
Insurance Act 2005, Section 11. See the register note · Open the published text ↗.
2. A week with A reinsurance PCC
Monday. The promoter walks in with “A reinsurance PCC.” Write the facts before anyone names a code: TreatyCells PCC will run a property-treaty cell and a casualty cell.
Tuesday. The team writes the activity in the words of the licence letter, not the brass plate. Professional reinsurance in PCC form.
Wednesday. They record what this permission is used for. INS-1.4Av.
Thursday. They write what the letter does not cover. Not CI-1.1A.
Friday. They lock the assumptions. Fictional PCC. Cut-off 20 September 2026. The file is ready for the application, not for a slogan on a slide.
The other files on this desk should look like that first one: a named person, a specified activity, and a letter that matches the work. That is what INS-1.4Av is used for. The Act matters when A reinsurance PCC applies, when the Commission writes conditions onto the letter, and when the same promoter telephones with a different idea.
3. What the same promoter asks next
The facts are fictional. The method is the course: keep the shop you have just watched, and ask which desk is now doing the work.
This licence
A reinsurance PCC
TreatyCells PCC will run a property-treaty cell and a casualty cell.
Why it fits. INS-1.4Av.
Different paper
The same promoter asks for INS-1.4 non-PCC
The slide says the INS-1.4Av letter already covers it because the same company, the same officers or the same client are on the file.
Why it does not. Keep the neighbouring paper off this desk. Not CI-1.1A.
Different paper
The same promoter asks for captive
The slide says the INS-1.4Av letter already covers it because the same company, the same officers or the same client are on the file.
Why it does not. Keep the neighbouring paper off this desk. Not CI-1.1A.
| The promoter asks A reinsurance PCC to… | This licence? | Why |
|---|---|---|
| A reinsurance PCC | Yes | INS-1.4Av. |
| The same promoter asks for INS-1.4 non-PCC | No | Keep the neighbouring paper off this desk. Not CI-1.1A. |
| The same promoter asks for captive | No | Keep the neighbouring paper off this desk. Not CI-1.1A. |
4. Papers that sit beside this one
Not INS-1.4 non-PCC and not a captive. Name the other desk when the work changes: INS-1.4 non-PCC; a captive.
- INS-1.4 non-PCC
- a captive
Neighbouring codes have their own chapters. Do not import their books into this letter.
5. The letter and the file
The professional-reinsurer PCC. Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. Fees as at 1 July 2026: Processing USD 1,000 first cell and USD 300 every additional cell. Status at cut-off: Published PCC reinsurer category as at 1 July 2026.
Who may hold it. The professional-reinsurer PCC.
Published criteria. Published licensing criteria on the FSC codified list (consolidation as at 1 July 2026) are guidance. They neither derogate from nor restrict the Commission’s statutory powers, and they must be read with the relevant Act, rules, codes and circulars.
Rules, codes and circulars. CL20260107 for the fee review.
6. How to cite INS-1.4Av
| Coordinate | As at 20 September 2026 |
|---|---|
| Directory code | INS-1.4Av Professional Reinsurer (Protected Cell Company) |
| Legal nature | Licence |
| Enabling law | Insurance Act 2005 · Section 11 |
| Fees as at 1 July 2026 | Processing USD 1,000 first cell and USD 300 every additional cell. Annual USD 1,900 first cell and USD 400 every additional cell. |
| Status at cut-off | Published PCC reinsurer category as at 1 July 2026. |
The structured library card keeps the same coordinates for search. Open INS-1.4Av in the reference library.
FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗Register noteInsurance Act 2005 ↗Register noteFSC licensing and fees amendment rules 2026 ↗Register noteFSC Circular Letter CL20260107 — review of fees and renewal of licences ↗Register noteFSC rules and regulations directory ↗Register note
PAUSE & REFLECT
Check your understanding.
Three questions to make the ideas stick. Your score is saved on this browser; this is a learning exercise, not a qualification.
Follow the sources.
Each title opens the published text. The register note records the edition used for this course.
- FSC codified list of licences, authorisations, approvals, recognitions and registrations ↗ All published category codes, fees, forms and licensing-criteria columns; consolidation as at 1 July 2026 · Register note
- Financial Services Act 2007 ↗ Sections 2, 14, 14A, 16–18, 25, 33, 71A, 72, 77, 77A, 77B, 77C, 78, 79A; Second Schedule Parts I–III; Fifth Schedule · Register note
- FSC licensing and fees amendment rules 2026 ↗ Rule 3 and replacement First Schedule; rule 4 commencement · Register note
- FSC Circular Letter CL20260107 — review of fees and renewal of licences ↗ 1 July 2026 fee review; annual-fee due date 30 September 2026; FSCOne alternative arrangements · Register note
- FSC rules and regulations directory ↗ Consolidated licensing and fees rules; sector-specific rules including Securities (Licensing) Rules and Family Office Rules · Register note
- Insurance Act 2005 ↗ Sections 7, 11, 70, 75, 78, 78A · Register note
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