Lloyd’s gains reinsurance licence for Nicaragua

Lloyd's has obtained a licence to operate as a foreign reinsurer in Nicaragua, the Corporation announced today.

The Nicaraguan regulator, Superintendencia de Bancos y Otras Instituciones Financieras (SIBOIF), first approved Lloyd's application in February this year.

It follows a regulatory change SIBOIF made in 2015, which mandated that insurers could only transact with registered intermediaries and reinsurers.

Source: Insurance Insider