The Insurance Order, 2006 or Takaful Order, 2008 requires any company to apply for a licence to be an operator to offer insurance or takaful. Any company carrying out activities as an insurance company or takaful operator is considered as breaching the law and may be subject to penalties.
Minimum paid-up capital for locally incorporated companies | BND8 million |
---|---|
Minimum surplus of assets over liabilities for foreign branches | BND8 million |
Licence fees (annual) | |
---|---|
Main Office | BND10,000 |
For each branch office | BND3,000 |
For each counter | BND1,000 |
All completed applications, including necessary documentations, with the application fees should be submitted to:
An agent can be an individual or company that offers insurance/ takaful on behalf of licensed insurers and takaful operators in Brunei
Individual | Corporate | |||||
---|---|---|---|---|---|---|
IO, 2006 | TO, 2006 | Both | IO, 2006 | TO, 2006 | Both | |
Registration fee (BND) | 300 | 300 | 600 | 2,000 | 2,000 | 4,000 |
Annual fee (BND) | 200 | 200 | 400 | 1,000 | 1,000 | 2,000 |
The Brunei Institute of Leadership & Islamic Finance (BILIF) holds classes for interested applicants wishing to sit for the Qualifying Examination for Insurance and Takaful Agent (QEFITA).
Interested applicants can contact BILIF at +6732461221/2461223 or inquiry@bilif.com.bn.
Individual | Corporate |
---|---|
|
|
All completed applications, including necessary documentations, with the application fees should be submitted to:
An agent can be an individual or company that offers insurance/takaful on behalf of licensed insurers or takaful operators in Brunei Darussalam.
Individual | Corporate |
---|---|
|
|
Individual | Corporate | |||
---|---|---|---|---|
IO, 2006 | TO, 2006 | IO, 2006 | TO, 2006 | |
Registration fee (BND) | 300 | 300 | 2,000 | 2,000 |
Annual fee (BND) | 200 | 200 | 1,000 | 1,000 |
The Brunei Institute of Leadership & Islamic Finance (BILIF) holds classes for interested applicants wishing to sit for the Qualifying Examination for Insurance and Takaful Agent (QEFITA).
Interested applicants can contact BILIF at +6732461221/2461223 or inquiry@bilif.com.bn.
Individual | Corporate |
---|---|
|
|
All completed applications, including necessary documentations, with the application fees should be submitted to: