ADVOKS GLOBAL · KENYA
African Re-insurance Corporation (Mandatory Re-insurance Cessions) Act
5. Right to accept or decline business offered
Edition: 2022-12-31 · In force
5. Right to accept or decline business offered
(1)The Corporation may accept or decline all or part of the re-insurance cessions offered to be placed with it under this Act; and in that case the Corporation shall furnish the insurance or re-insurance institution concerned, as the case may be, if so required, with the reasons for its refusal.(2)Where re-insurance cessions are refused under subsection (1) of this section any liability of the insurance or re-insurance institution shall cease.