Insurance and / or reinsurance company representative office
I. Legislative and regulatory references:
Ordinance n ° 95/07 of 25/01/1995 relating to insurance modified and supplemented by law 06-04 of 20 February 2006, book III, title I, article 204 quinquiès. (OJ n ° 15 of March 12, 2006).
Order of January 28, 2007 setting the terms and conditions for the opening of representative offices of insurance and / or reinsurance companies. (OJ n ° 20 of March 25, 2007).
II. Terms and conditions for opening representative offices of insurance and / or reinsurance companies:
The opening in Algeria of representative offices of insurance and / or reinsurance companies is subject to an authorization issued by decree of the Minister in charge of finance (article 2 of the decree of January 28, 2007)
The authorization of representative offices to exclude any commercial activity relates to (article 3 of the decree):
Support of the existing activities of the parent company
The search for business relations between economic operators and the insurance and / or reinsurance company represented.
The authorization to open is granted for a period of three (3) years, renewable.
The authorization file for the opening of a representative office includes the following documents (article 5 of the decree):
a request for authorization to open a representative office according to the specimen to be collected from the structure in charge of insurance at the Ministry of Finance,
a copy of the articles of association of the parent company
an extract from the commercial register or any official document in lieu of
the decision to appoint the head of the representative office signed by the person empowered to engage the parent company
the curriculum vitae and all documents justifying the professional qualifications of the representative of the representative office
an extract from the criminal records of the directors and senior managers of the insurance and / or reinsurance company
the certificate of payment of an amount in foreign currency corresponding at least to the annual operating costs of the representative office in a convertible dinar account (CEDAC) made out in its name.
III. Withdrawal of the authorization
The authorization can be withdrawn by order of the Minister responsible for finance for the following reasons (article 7 of the order):
at the request of the parent company
in the event of non-compliance with the legal and regulatory provisions in force
in the event of cessation of the activity of the parent company
in the event of a change in the articles of association of the parent company such as to modify the provisions relating to its purpose
إرسال تعليق