The CFC act lays out the framework to facilitate the establishment of an international insurance business from The Union of the Comoros. Application for insurance licenses is made to the Comoros Finance Commission for International Insurance by companies already holding an IBC (International Business Company). There is one class of insurance business authorized by the CFC which is a class 2 General Insurance License, insuring different parties? risks. In the case of third-party business, the insurance company should demonstrate access to the necessary underwriting and analytical skills, financial soundness and a good track record. Full details of all programs to be underwritten must be submitted for approval to the CFC.
This License is subject to any variations of the Comoros Finance Commission Act number: 17-008/01/CFC/AU of 2017 Law Number 17-008/AU.