Logo ofInsurance Authority (IA)
The Insurance Authority (IA) launched a draft amendment to Article 58 of the Executive Regulations of the Cooperative Insurance Companies Control Law, concerning the investment returns of statutory deposits for companies. 
The draft is open for consultation on the IA platform until Jan. 6, 2026.
According to the IA, the amendment proposes that the investment returns on statutory deposits should be returned to the insurance and/or reinsurance companies instead of the central bank.
The authority explained that the change aims to incentivize companies in the sector, as well as foreign companies wishing to invest in the local insurance market, which would positively impact the financial positions of companies and align with international best practices.
The table below shows the current text of Article 58 and the proposed amendment:
Article 58:
Current Article
Proposed Article
The statutory deposit must be 10% of the paid-up capital, and the central bank may raise this ratio up to a maximum of 15% according to the risks facing the company.
The company must deposit the statutory deposit within 3 months from the date of licensing in the bank designated by the central bank at the time.
The deposit is invested by the central bank, and the returns belong to the central bank.
The statutory deposit must be 10% of the paid-up capital, and the IA may raise this ratio up to a maximum of 15% according to the risks facing the company.
The company must deposit the statutory deposit within 3 months from the date of licensing in the bank designated by the authority at the time.
The deposit is invested by the authority, and the returns belong to the company.
Logo ofInsurance Authority (IA)
The Insurance Authority (IA) launched a draft amendment to Article 58 of the Executive Regulations of the Cooperative Insurance Companies Control Law, concerning the investment returns of statutory deposits for companies.
The draft is open for consultation on the IA platform until Jan. 6, 2026.
According to the IA, the amendment proposes that the investment returns on statutory deposits should be returned to the insurance and/or reinsurance companies instead of the central bank.
The authority explained that the change aims to incentivize companies in the sector, as well as foreign companies wishing to invest in the local insurance market, which would positively impact the financial positions of companies and align with international best practices.
The table below shows the current text of Article 58 and the proposed amendment:
Article 58:
Current Article
Proposed Article
The statutory deposit must be 10% of the paid-up capital, and the central bank may raise this ratio up to a maximum of 15% according to the risks facing the company.
The company must deposit the statutory deposit within 3 months from the date of licensing in the bank designated by the central bank at the time.
The deposit is invested by the central bank, and the returns belong to the central bank.
The statutory deposit must be 10% of the paid-up capital, and the IA may raise this ratio up to a maximum of 15% according to the risks facing the company.
The company must deposit the statutory deposit within 3 months from the date of licensing in the bank designated by the authority at the time.
The deposit is invested by the authority, and the returns belong to the company.
