Foreign ownership restrictions are not in sync with other regulations that oblige addition of capital. Insurance companies must also report their ownership structure.Key summary points
- Government Regulation No. 14/2018, which officially came into effect in May, restricts foreign ownership of up to 80 percent of paid-in capital.
- Insurance companies with 80 percent of shares already owned by a foreign entity are excluded from the restriction rule.
- There are 68 foreign joint venture insurance companies, consisting of 50 with foreign ownership of less than 80 percent and 18 with foreign ownership of more than 80 percent.