Nicaragua: new reinsurance licence
Lloyd’s has obtained a licence as a foreign reinsurer in Nicaragua.
The Nicaraguan regulator, Superintendencia de Bancos y Otras Instituciones Financieras (SIBOIF), has approved Lloyd’s application for a licence (RE-061) as a foreign reinsurer in Nicaragua, enabling (i) Lloyd’s underwriters to maintain their trading rights; and (ii) Lloyd’s coverholders to carry out reinsurance business from Nicaraguan insurers without registering individually. A market bulletin will be issued shortly to provide more information on the changes.
For any immediate information, please contact Lloyd’s International Trading Advice.