NATIONAL INSURANCE COMMISSION ACT

Section 36: Actuarial investigation.

1997Section 36 of 66Federal Republic of Nigeria

(1) The Commission shall appoint actuaries or secure the services of actuarial consultants to advise and assist the Commission on all actuarial matters relating to the relevant insurance institutions under this Act.
(2) An actuary appointed or secured under subsection (1) of this section shall, in every five years, make an investigation into the financial condition of insurance institutions.
(3) The value of any asset and the amount of any liability shall, for the purposes of an investigation under subsection (2) of this section, be determined in accordance with the applicable valuation regulations.
(4) The report of every investigation made under this section shall be made to the Commissioner.

Cite this section

Section 36, NATIONAL INSURANCE COMMISSION ACT (1997).

https://repo.podus.ai/laws/national-insurance-commission-act/section/36/