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Please make sure you view all key information in your search results before accepting a risk in the chosen territory.

Disclaimer: Crystal is provided for information purposes; it does not constitute solicitation of business and is not intended to be a substitute for appropriate professional advice. Information relating to Lloyd’s Brussels Subsidiary may be subject to regulatory approval.

Afghanistan Lloyd's
* Please see Authorisation for details of Lloyd's underwriters licensing status
Please see Authorisation for details of Lloyd's Brussels licensing status

Pre-placement considerations

Authorisation

Lloyd's
US OR Ocean Marine Return
Last updated: 12 Sep 2019

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US OR Ocean Marine Return
Last updated: 12 Sep 2019

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Insurance

Lloyd's underwriters are not licensed and are not permitted to write insurance in or from Afghanistan.

Last updated: 19 Sep 2018

Reinsurance

Lloyd’s underwriters are permitted to write reinsurance originating from Afghanistan on a cross-border basis only. The underwriting must take place outside of the territory.

Last updated: 06 Aug 2018

Definition of risk location

Lloyd's
A risk is an Afghan risk if it is located in Afghanistan.

For general guidance on identifying the location of a risk please refer to the risk locator.
Last updated: 06 Aug 2018

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Sanctions and trade controls

Lloyd's
This information is secured Secure item
Last updated: 06 Aug 2018

Compulsory classes

Lloyd's
The following class is compulsory in Afghanistan:
  • Third party motor insurance in respect of property damage and bodily injury (Applies in Kabul only)
Last updated: 06 Aug 2018

Tax - Overview

Summary of taxes applicable to insurance

Lloyd's

Lloyd's tax department does not handle taxes in this jurisdiction.

Withholding tax at 7% applies to most (re)insurance premiums paid from Afghanistan to Lloyd’s Members (as a non-resident insurer).  The UK does not currently have a double tax treaty in force with Afghanistan.

Lloyd's tax department does not hold any more information on taxes. Any additional tax liability identified as a result of writing insurance or reinsurance business should be notified to Lloyd's tax department. 

Last updated: 29 Mar 2019

Financial considerations

Lloyd's operating charges

Lloyd's
This information is secured Secure item
Last updated: 06 Aug 2018

Distribution channels

Coverholder business

Lloyd's
Definition of a coverholder
Last updated: 06 Aug 2018

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Intermediary regulation

Lloyd's
Local intermediaries must be licensed with the Ministry of Finance.
Last updated: 06 Aug 2018

Master policies

Lloyd's

Master policies (or group schemes) are a means of providing coverage to individuals with the common interest of belonging to a group or association without the need to issue separate policies to each of the individuals covered by the policy.

Lloyd’s permits the underwriting of such schemes subject to meeting certain requirements set out in Market Bulletin Y4535 (30 November 2011) “Master Policies & Group Schemes”. 

As Lloyd’s is not a licensed insurer in this territory, a master policy cannot be issued. Care must also be taken where covered parties under a master policy are located in this territory.

Please refer to the Risk Locator Tool  for more guidance in these instances.

Last updated: 06 Aug 2018

Insurance documentation

Insurance documents

Lloyd's

Contract certainty applies to general insurance contracts either entered into by a UK regulated insurer (such as Lloyd’s underwriters) or arranged through a UK regulated broker (such as Lloyd’s brokers based in the UK).

Lloyd's has developed Quality Assurance (QA) checks to help the market comply with this requirement.

Further information on contract certainty can be found on the Market Reform website.

Last updated: 13 Feb 2019


Several liability

Lloyd's
This information is secured Secure item
Last updated: 06 Aug 2018

Choice of law

Lloyd's
To meet contract certainty requirements, the contract should contain a choice of law clause.

Lloyd’s is not a licensed insurer in this territory. Lloyd’s underwriters therefore write insurance business emanating from this territory as reinsurance only.

Underwriters can agree with an insured the country’s law that the choice of law clause will specify.
Last updated: 06 Aug 2018

Jurisdiction

Lloyd's

Lloyd’s is not a licensed insurer in this territory.

Lloyd’s underwriters therefore write insurance business emanating from this territory as reinsurance only.

A contract should include a clause specifying the jurisdiction that will apply. An underwriter can agree with an insured the jurisdiction that will be specified. Nevertheless, this designation may not be effective in the event of a dispute.
Last updated: 06 Aug 2018

Processing and servicing of risks

Processing premiums

Lloyd's
This information is secured Secure item
Last updated: 06 Aug 2018

Foreign insurance legislation (FIL) codes

Lloyd's
Please refer to Xchanging for the current list of FIL codes.
Last updated: 06 Aug 2018

Claims

Lloyd's
This information is secured Secure item
Last updated: 06 Aug 2018

Reference

Global contracts

Lloyd's

A Global Contract is a multi-jurisdictional policy. A multi-jurisdictional policy must account for local fiscal and regulatory obligations on the insured and the insurer, including licensing and operating restrictions.

Last updated: 06 Aug 2018


Market intelligence

Lloyd's

Lloyd’s Market Intelligence provides analysis of the world’s insurance industry from a geographic perspective to help Lloyd’s managing agents, brokers and coverholders grow their business internationally. The Lloyd’s Market Intelligence reporting suite is comprised of the following products:

  • Compare countries – Structured database allowing comparison of economic, insurance market and Lloyd’s business statistics for over 200 territories.
  • Country profiles – Individual factsheets for Lloyd’s key territories covering +50 territories
  • Country roundups – Summaries of recent industry news and events, available for selected territories
  • Market presentations – Reports containing local insights from Lloyd’s Country Managers on key trends, main opportunities and challenges for Lloyd’s in their markets covering +30 territories
  • Class review – In-depth reports providing benchmarking insights in key territories, broken down by class of business, covering +35 territories

To access statistics and analysis available for this or other territories, please visit the Market Intelligence website. Please note that the above products are password-protected, please email the Market Intelligence team at WMID@lloyds.com to obtain your relevant password.

Last updated: 06 Aug 2018

Representative(s)

Lloyd's agent

Lloyd's

Click here for the Lloyd's Agent

Last updated: 06 Aug 2018