Section 9: Captive insurance agent

9. Captive insurance agent (1) A captive insurer shall, at all times, have a captive insurance agent in Mauritius, who shall be responsible for— (a) filing an application for a licence with the Commission; (b) filing with the Commission such document as may be required under this Act or the relevant Acts; (c) filing with the Commission such other document as may be required under any other enactment; (d) receiving or forwarding, as the case may be, any communication, notice or summons from, or to, the Commission; and (e) maintaining records of the captive insurer. C2 – 7 [Issue 10] Captive Insurance Act 2015 (2) Service of process by or on a captive insurer shall be sufficient where it is made by or on his captive insurance agent. (3) No person other than an actuary, an insurance manager, a law practitioner, a management company, a public accountant or such other person as may be prescribed shall act as a captive insurance agent. (4) No person shall be appointed as or continue to act as a captive insurance agent where— (a) in the case of a natural person, he is— (i) a minor; (ii) a bankrupt; (iii) a person with any mental impairment; or (iv) a person who has been convicted of an offence involving fraud or dishonesty by a Court in Mauritius or elsewhere; (b) in the case of a body corporate, it is the subject of any proceedings, in Mauritius or elsewhere, which may result in it being wound up or otherwise dissolved. (5) A captive insurer shall ensure that its captive insurance agent is of appropriate integrity and has adequate knowledge, experience, skill and competence for carrying out his functions. (6) An actuary, an insurance manager, a law practitioner, a management company, a public accountant or such other person as may be prescribed may apply to the Commission for approval to act as captive insurance agent. (7) Any application for approval under subsection (6) shall be made in such form and manner as the Commission may determine and shall be subject to such fees as may be specified in the FSC Rules. (8) The Commission may give its approval to an applicant to act as a captive insurance agent on such terms and conditions it may determine, where it is satisfied that the applicant is fit and proper and complies with all the requirements of this Act. (9) A captive insurer shall notify the Commission of the appointment of a new captive insurance agent within 15 days of such appointment.