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NaSIA membership gives companies in the financial services industry a combined voice in discussions and negotiations with regulators, policy makers and other stakeholders.

Membership also offers companies, that meet the membership criteria, access to democratic forums, through various technical committees, in which issues of mutual interest and concern can be raised and solutions explored. Our aim is to achieve consensus, however, if this is not achieved all minority views will be shared with the regulators, policymakers, and other stakeholders.

The following categories of membership are available:

Voting Members

  1. Qualifying criteria for voting membership:
    • Companies need to be duly established, registered, and authorised in terms of the applicable laws, offer insurance, savings and investment products.
    • Voting members may:
      • Nominate and elect representatives to serve on the NaSIA Board in accordance with NaSIA’s Memorandum of Incorporation (MOI). To read NaSIA’s Memorandum of Incorporation. The Board nominates board members to serve on NaSIA’s governance committees, including the Executive, Remuneration and Audit Committee;
      • Vote on matters that are dealt with at the Association’s Annual General Meetings; and
      • Nominate representatives to serve on all NaSIA’s technical committees, which include board committees, standing committees and working groups.
  2. Voting membership fees are calculated as follows:
    • The NaSIA fee model has 3 components:
      1. Members will pay a minimum fixed fee as approved from time to time;
      2. The 65% portion of the remaining split (after fixed fees deduction) would be shouldered based on member group Assets under Management (AuM); and
      3. The 35% portion of the remaining split (after fixed fees deduction) would then be split by the insurers in accordance with premium income (PI) market share.

Non-Voting Members

It is important to note that the criteria listed below does not preclude a company (despite meeting the listed criteria below) from making an application to be a voting member.

  1. Qualifying criteria for non-voting (ordinary) membership:
    • Companies must be duly established, registered, and authorized in terms of the applicable laws, and offer insurance, savings and investment products;
    • Entities with Assets Under Management (AuM) not exceeding N$2 billion; or
    • Insurance companies with insurance premium income not exceeding N$1 million per annum;
    • Non-voting (ordinary) members may:
      • Nominate representatives to serve on NaSIA’s technical committee’s and working groups.
  2. Non-voting membership fees are calculated as follows:
    • Non-voting members are only eligible to pay the fixed fee component (as approved from time to time) of the fees applicable to voting members.
    • Non-voting members who are unable to pay the full fixed fee may make an application to the secretariat motivating why they should be allowed to pay a lower fee. The application will be considered (and granted) on a case by case basis.

Why Join NaSIA

  1. NASIA members comprise the highest level of expertise, vast industry experience and the passion and know how to execute and deliver on all the right pressure points.
  2. Financial Sector Development
    • Ensure and enabling framework and market.
  3. Social and Skills development
    • Foster knowledge and competence for the industry.
    • Ensure skills development to staff of members.

Contact us to find out more about joining NaSIA.