Entry Instance

HTTP 200 OK
Allow: GET, PUT, PATCH, DELETE, HEAD, OPTIONS
Content-Type: application/json
Vary: Accept

{
    "id": 736094,
    "url": "https://info.mzalendo.com/api/v0.1/hansard/entries/736094/?format=api",
    "text_counter": 49,
    "type": "speech",
    "speaker_name": "Hon. A.B. Duale",
    "speaker_title": "",
    "speaker": {
        "id": 15,
        "legal_name": "Aden Bare Duale",
        "slug": "aden-duale"
    },
    "content": "Clause 2 of the Bill proposes to amend the Insurance Act by introducing new definitions of the terms “insurance groups”, which is a registered insurer and its subsidiary or an insurer’s holding company, whether operating or non-operating, and its subsidiary. It is dealing with more of the terminology and introducing a new term. This is mainly to give the insurance sector control over the insurer. Their activities are limited to holding of certain investments in their subsidiaries. It is dealing with how an insurance company and its subsidiary holding relate to one another, and how they raise funds to support the activities of that subsidiary from the insurance company. What does this amendment do? It will facilitate the supervision of the insurance groups by the regulatory authority. Clause 2 further deletes the definition of the term “admitted assets” to harmonise it with the insurance amendment of 2016, which substituted the usage of that term with a new one called “capital charge” in line with the new risk-based capital."
}