DRC: parliamentarians take ownership of the issue of compliance with the Insurance Code

After the members of the Government of the Democratic Republic of Congo (DRC), it is up to parliamentarians to take ownership of the issue of compliance with the Insurance Code.

A delegation of national deputies went on a mission to Lubumbashi, capital of the province of Haut-Katanga. Objective: raise companies’ awareness of insurance policies.

On March 28, 2022, they were received by the Provincial Governor, Jacques Kyabula Katwe.

At the end of these exchanges, these national deputies indicated that their parliamentary mission related to the question relating to the situation of insurance policy contracts in companies established in this province of the South-East of the country.

According to the spokesman of the said delegation, the deputy Bernard Kayumba, their mission is to encourage companies to subscribe to insurance policies.

“This is a parliamentary mission, an insurance policy contract information mission in Haut-Katanga. So, the national deputies from Kinshasa come to sensitize, to sensitize the companies in our country, the economic operators also in order to subscribe to the insurance policies. “, did he declare.

The objective pursued by the national deputies is to ensure that companies operating in Haut-Katanga can comply with the legislation in force concerning the Insurance Code in the country.

During their stay in Haut-Katanga, the parliamentary mission will have to meet both the politico-administrative authorities and business leaders.

We have the agenda of a few days to receive the Provincial Minister of Mines, the Provincial Minister of Finance in order to sensitize together all these companies which, yesterday, did not pay the insurances. Today, with our arrival, they absolutely have to start paying the insurance. So we want every Congolese, every economic operator to know that insurance is very important in our daily lives. Whether it’s our mines, these companies must know how to subscribe to the six compulsory insurance policies because the law requires it.”hammered MP Bernard Kayumba on behalf of his colleagues.

Recently, the Insurance Regulation and Control Authority (ARCA) has set the course to intensify the fight against insurance premium evasion.

Beyond the technical support of the General Inspectorate of Finance (IGF) and the National Financial Intelligence Unit (CENAREF), such a parliamentary initiative is timely to support ARCA’s efforts.

Since last year, ARCA has launched checks on economic operators, particularly in Kinshasa, the capital and in the provinces of Kongo Central, Haut-Katanga, Lualaba, North and South Kivu.

Under the leadership of its Managing Director, Alain Kaninda Ngalula, ARCA intends to ensure compliance with article 286 of the insurance code stipulating the formal prohibition to take out direct insurance abroad for a risk located in the Republic Congo Democratic. At the same time, the ARCA is committed to the effective and efficient control of compulsory insurance.

For the management of ARCA, this approach aims to maximize tax revenue likely to contribute to the materialization of the action program of the Government of the Republic.

It is of course this fact that could justify the involvement and appropriation by the people’s elected representatives of the ARCA approach with a view to ultimately improving the socio-economic conditions of the Congolese population. An approach that meets the vision of the Head of State, Félix-Antoine Tshisekedi, that of “the people first”.

It goes without saying that the gap of nearly 800 million US dollars to be covered is at the very heart of ARCA’s management strategy.

To this end, the management team of the ARCA also plans to reinforce in the very next few days the control on the ground of the compulsory insurances by mixed operations in collaboration with the specialized services of the State, in this case the General Inspectorate of Finance (IGF) and the National Financial Intelligence Unit (CENAREF).

In a high-potential market estimated at more or less one billion US dollars, statistics show that between 2019 and 2021, the turnover of the insurance market increased from more or less 70 million to 220 million US dollars. .

Taking advantage of the liberalization of the sector in accordance with Law No. 15/005 of March 17, 2015 on the Insurance Code, ARCA is keen to develop a healthy and solid insurance market and to be a modern, efficient and benchmark control institution. .

With this in mind, the Insurance Regulation and Control Authority (ARCA) intends to position, by 2025, the DRC insurance market among the top 5 African insurance markets.

Patrick BOMBOKA

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