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Local Insurance Companies

Local Insurance companies are Life Insurance Companies, Non-life Insurance Companies and Funeral Services Insurance Companies.

Life insurance company

A life insurance company is an insurance company which enters into life insurance contracts as a business for the insurer’s own account, including the completion of the life-insurance contracts entered upon in that business, even though the making of profit might not be the objective.

Non-life insurance company

A non-life insurance company is an insurance company which enters into non-life insurance contracts for the insurer’s own account, including the completion of non-life insurance contracts entered upon in that business, even though the making of profit might not be the objective.

Funeral Services Insurance Companies

As a funeral insurer is considered everyone who makes a business of, for her own account entering upon insurance contracts to provide benefits in kind in connection with death of man. This includes completion of the contract involved, even if the making of profit is not the objective.

 

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Last updated: 14.08.2019 09:08