Rulings define scope of PA’s powers under transitional insurance laws
The Tribunal and the High Court delivered key decisions emphasising proportional enforcement and the proper use of transitional provisions.
#LandBankLifeInsuranceCompany
Judgment clarifies approval of director appointments under the Insurance Act
The High Court confirms a Tribunal decision that the appointment of directors of insurance companies can be regularised retrospectively. It underscores that section 14 of the Insurance Act does not require the Prudential Authority’s pre-approval.
Court backs FST’s decision to scale down penalty for insurance breach
The judgment confirms that the Tribunal acted within its authority when it reduced a penalty imposed by the Prudential Authority on two state-owned insurers.
Battle between PA and insurers: court clarifies regulatory powers
The High Court confirms the Prudential Authority’s right to challenge Tribunal decisions while affirming the limits of retrospective penalties.
