Finance Ministry, NamibRe application against insurance companies dismissed

Finance Ministry, NamibRe application against insurance companies dismissed

The High Court has dismissed an urgent application in which the Minister of Finance and the state-owned reinsurance company, NamibRe, dragged eight insurance companies to court over their refusal to comply with the new NamibRe Act.
Judge Thomas Masuku dismissed the matter pending the outcome of two cases in which six of the eight companies approached the High Court to declare some provisions in the new Act, as unlawful.