Compliance
Your Trusted Partner: Klapton Re's Commitment to Transparency and Ethical Reinsurance
At Klapton Re, our mission is to provide world-class reinsurance services built on a foundation of compliance, transparency, and ethical conduct. Adhering to global regulatory standards and local oversight is critical to maintaining trust with our clients, partners, and stakeholders. Our compliance framework ensures that every aspect of our operations aligns with applicable laws, industry best practices, and international obligations.
We are dedicated to fostering a culture of accountability and integrity that safeguards both our organization and the clients we serve.
Sanctions Disclaimer
Klapton Re operates in full compliance with international sanctions laws and regulations. As part of our commitment to responsible business practices, we do not conduct business or provide coverage in sanctioned countries or prohibited jurisdictions.
What This Means for Our Operations
- Global Sanctions: We comply with all sanctions issued by the United Nations, the European Union, the United States Office of Foreign Assets Control (OFAC), and other relevant regulatory bodies.
- Prohibited Jurisdictions: Klapton Re refrains from engaging with entities, individuals, or organizations located in or associated with regions identified as restricted or prohibited.
- Continuous Monitoring: Our advanced monitoring systems ensure real-time compliance with evolving sanctions regulations.
- Due Diligence: We perform thorough due diligence on all counterparties, transactions, and potential partners to ensure alignment with our compliance standards.
This sanctions policy reflects our unwavering commitment to ethical business practices, risk management, and adherence to international law.
Licensing
and Regulatory Compliance
Klapton Re is fully licensed to operate in the jurisdictions where we conduct business. In Zambia, we are regulated by the Pensions and Insurance Authority (PIA), the official oversight body for insurance and reinsurance companies. We ensure that all our activities, products, and services meet the specific requirements of local and international regulatory authorities.
Our Licensing Framework Includes:
- Adherence to Local Laws: All operations comply with the legal frameworks of the regions we serve, including strict compliance with the PIA’s regulations in Zambia.
- Product Governance: We design and deliver products that meet both international and local regulatory standards, protecting the interests of our clients.
- Regulatory Reporting: Klapton Re maintains transparent and timely communication with regulatory bodies like the PIA to demonstrate compliance.
- Audits and Reviews: Regular internal and external audits verify compliance with all relevant laws and standards.
Commitment
to Integrity
Ethics and integrity are at the core of Klapton Re’s business practices. Compliance is not just about meeting regulatory obligations; it is about cultivating an environment of trust, fairness, and accountability.
Our Integrity Standards:
- Risk Management: We proactively identify and mitigate risks associated with non-compliance, ensuring the safety and reputation of our partners.
- Ethical Partnerships: Klapton Re collaborates only with organizations that share our commitment to compliance and integrity.
- Training and Awareness: Employees are regularly trained in compliance policies to maintain excellence across all operations.
How
We
Maintain
Compliance
- Screening and Monitoring: We use industry-leading compliance software to screen transactions, clients, and third parties against sanctions and regulatory watchlists.
- Policy Updates: Our compliance policies are regularly reviewed and updated to reflect the latest regulatory changes.
- Internal Controls: A strong system of internal controls helps us identify and address potential compliance risks before they arise.
- Whistleblower Protection: We encourage the reporting of potential compliance concerns through secure, anonymous channels.