Insurance and Reinsurance: Legal Advisory

Writing insurance in the Gelephu Mindfulness City means fitting your business to a licensing regime built around defined activities and classes, where the difference between effecting cover, carrying it out and merely arranging it decides what you can do. Basnet Law Pte. Ltd. is the first law firm incorporated in GMC.

Advice on licensing insurers and reinsurers for Effecting Contracts of Insurance and Carrying Out Contracts of Insurance as Principal, which must be carried on by a body corporate.

Advice on broker and agency licensing under Insurance Intermediation, including advising on and arranging contracts of insurance, and the incidental-basis exclusion.

Insurance Management permissions for firms "providing management services or exercising managerial functions for an insurer".

Captive structuring under the Captive Insurance Business Rules and Prudential (PIN) rules applied by Schedule B to the Application of Laws Act 2024.

Protected cell and incorporated cell companies, which cannot be established without the Regulator's consent and need approval for each new cell.

Class mapping across the seven life classes and nine non-life classes.

International insurers and reinsurers establishing a GMC carrier or branch. Corporate groups considering a GMC captive. Brokers, agents and managing general agents. Captive managers and insurance management firms.