How to Register an Insurance Broker in Namibia

Learn how to register an insurance broker in Namibia, including NAMFISA registration, FIMA requirements, NIBA membership, PI insurance, insurer letters of intent, documents, annual renewal and compliance.

Learn how to register an insurance broker in Namibia, including NAMFISA registration, FIMA requirements, NIBA membership, PI insurance, insurer letters of intent, documents, annual renewal and compliance.

If you want to operate as an insurance broker in Namibia, registration with the Namibia Financial Institutions Supervisory Authority (NAMFISA) is a central regulatory requirement. An insurance broker acts on behalf of clients when negotiating insurance business with insurers, rather than simply representing one insurer as an agent.

As of 2026, applicants should pay particular attention to the Financial Institutions and Markets Act, 2021 (FIMA) and the current NAMFISA requirements for insurance brokers. NAMFISA now provides specific FIMA application forms and a 2026 Insurance Brokers Application Guideline for individual and corporate brokers.

This guide explains the insurance broker registration process, documents, professional requirements, and ongoing compliance considerations.

What Is an Insurance Broker in Namibia?

An insurance broker helps clients identify, arrange and negotiate suitable insurance products with insurers. The business can focus on areas such as life and other long-term insurance or short-term insurance.

NAMFISA distinguishes between individual insurance brokers and corporate insurance brokers. Under FIMA, an individual or entity may apply to NAMFISA for registration as an insurance broker or a corporate insurance broker, subject to the applicable requirements.

The regulator maintains lists of registered intermediaries, including active long-term and short-term insurance brokers.

Long-Term and Short-Term Insurance Brokers

Before starting your insurance brokerage, determine which category of insurance products services you intend to provide.

Long-Term Insurance Broker

A long-term insurance broker generally deals with long-term insurance business. This can include insurance products relating to life and other long-term risks.

NAMFISA’s dedicated long-term broker information page provides registration information and supporting-document requirements. The legacy page also explains the process of creating a NAMFISA Online profile, reserving an entity name and completing the relevant application. Long-term Insurance Broker requirements should be checked alongside the current FIMA requirements before submitting an application.

Short-Term Insurance Broker

A short-term insurance broker negotiates short-term insurance business with insurers on behalf of another person. Typical areas can include motor, property, commercial and other short-term risks, depending on the classes for which the broker is authorised.

NAMFISA provides a separate registration route and documentation for short-term brokers. Short-term Insurance Broker registration information explains the application process and broker-individual requirements.

Insurance Broker Registration Process in Namibia

The insurance broker registration process involves preparing the business and professional documentation, creating the appropriate NAMFISA Online profile, completing the registration application and submitting the required supporting documents.

1. Decide on the Business Structure

You can apply as an individual or establish a legal entity to operate as a corporate insurance broker.

For a brokerage business, the entity should be properly registered under the applicable Namibian legislation before the regulatory application is completed where this is required. If you are still deciding between structures, information on registering a business in Namibia can help explain the broader business-registration process.

A brokerage may be established using a private company structure; see the information on private limited company registration in Namibia for the company-registration side of the process.

FIMA specifically provides for applications by individuals and entities and requires NAMFISA to be satisfied that an entity has met the applicable registration requirements before registration.

2. Reserve the Proposed Name

The NAMFISA registration process begins with access to the NAMFISA Online Electronic Regulatory System (ERS) and reservation of the proposed entity name.

The current NAMFISA process requires an applicant to create a profile on NAMFISA Online and reserve the proposed entity name before completing the relevant registration application.

3. Create a NAMFISA Online Profile

Applicants must use the NAMFISA Online ERS to initiate the regulatory application.

The current FIMA framework provides specific application forms for Registration as Corporate Insurance Broker (Entity) and Registration as Insurance Broker (Individual). NAMFISA also lists the applicable fit-and-proper requirements, outsourcing requirements, general fees and insurance-broker registration standard.

Where a company has already been incorporated, company administration and statutory compliance should also be kept up to date. Businesses can use company secretarial services to help maintain corporate records and statutory filings.

4. Complete the Insurance Broker Application

The insurance broker application should be completed accurately and supported by the documents required for the applicant’s category.

The FIMA framework requires an application to be made in the prescribed manner and form, accompanied by the required information, documents and applicable fee. NAMFISA may also request additional information where reasonably necessary to assess a particular application.

Your insurance broker application form should therefore be treated as part of a larger compliance package rather than as a standalone document.

Insurance Broker Requirements

The exact insurance broker requirements depend on whether you are applying as an individual or corporate broker and on the relevant regulatory category.

Under FIMA, an individual applicant must be at least 18 years old, meet applicable registration requirements, satisfy fit-and-proper requirements, demonstrate the required integrity and honesty, comply with applicable Namibian laws and pay the required fee. The Act also requires an individual applicant to be ordinarily resident in Namibia and able to comply with applicable residency requirements.

If you are establishing the brokerage from outside Namibia, you may also need to consider the practical requirements for operating a business remotely. See remote business setup in Namibia for additional business-setup considerations.

Fit and Proper Requirements

Fit-and-proper assessment is an important component of insurance broker registration.

The regulator considers matters relevant to whether an applicant can carry out insurance brokerage activities appropriately and with integrity. FIMA also contains provisions dealing with previous refusals, suspensions or revocations of financial-services registrations and convictions that may make an individual unsuitable for registration.

Applicants should therefore prepare accurate information about their professional history, qualifications, experience and regulatory background.

Insurance Industry Qualification and Experience

Professional competence is another important consideration.

The Namibia Insurance Brokers Association (NIBA) currently lists qualification and experience requirements for membership. Its 2026 requirements include a qualification plus two years of insurance-industry working experience, or alternatively more than three years of insurance-industry working experience. NIBA also requires supporting documentation such as a CV and identification document.

This makes an insurance industry qualification and relevant practical experience important considerations when preparing to establish a brokerage.

Documents Needed for Insurance Broker Registration

The required insurance broker documentation varies according to the type of application. Applicants should use the latest NAMFISA and FIMA forms rather than relying exclusively on older checklists.

For example, NAMFISA’s legacy long-term broker requirements include items such as:

• Certified identification or passport documents
• Educational qualifications
• Police clearance documentation
• Taxpayer registration
• Proof of bank account
• Letters of intent from insurers
• Professional Indemnity Insurance
• Proof of membership with a broker controlling body
• Corporate registration documents where applicable
• Ownership and director information
• Fit-and-proper documentation

NAMFISA’s published long-term broker requirements specify Professional Indemnity Insurance of not less than N$1 million and, for the relevant firm application, at least three letters of intent from long-term insurers.

Because the regulatory framework transitioned to FIMA in 2026, applicants should reconcile these legacy pages with the current FIMA insurance-broker guideline and applicable standards before filing.

If you need to prepare supporting corporate documentation before the regulatory application, you may also review the published requirements for registering a company in Namibia.

Professional Indemnity Insurance

Professional Indemnity (PI) cover is an important part of the insurance broker compliance framework.

NAMFISA’s published broker requirements specify PI cover of at least N$1,000,000 in the applicable long-term broker requirements. For a broker individual, the individual should be indicated as one of the insured parties.

PI insurance protects the brokerage against certain professional claims arising from the provision of professional services, subject to the terms, exclusions and limits of the particular policy.

NIBA Membership and Certification

Insurance broker membership can also form part of the professional and market-access requirements.

NIBA provides both juristic and individual membership options. Its current membership application requirements include completed application forms, a CV, identification, qualification and relevant insurance experience, company registration documents where applicable, and letters of intent from insurers. Proof of PI cover is required once membership is approved.

NIBA membership should not be confused with the statutory NAMFISA registration itself. They serve different purposes within the broader professional and regulatory environment.

For applicants seeking to work with particular insurers, additional requirements may apply.

For example, Hollard Namibia’s insurance broker application requirements list a completed application form, NAMFISA Registration Certificate, NIBA Certification and proof of PI cover for brokers wanting to offer Hollard products.

Letters of Intent From Insurers

Letters of intent can be an important component of the application package.

NAMFISA’s published long-term broker requirements call for at least three letters of intent from long-term insurers. NIBA’s current membership requirements separately refer to a letter of intent from two insurers.

These requirements should be distinguished carefully because a NAMFISA registration requirement and an association membership requirement are not necessarily identical.

Tax and Banking Documentation

A brokerage should also prepare evidence relating to its tax and banking position.

NAMFISA’s published long-term broker requirements include proof of taxpayer registration and a bank-stamped proof of the bank account.

This means that establishing the business, obtaining the relevant tax registration and opening an appropriate business bank account should be considered part of the broader preparation process.

For businesses requiring a physical business address without immediately leasing conventional office premises, a virtual office in Namibia may be another business-setup consideration, subject to the address requirements applicable to the regulatory application.

Compliance and Financial Intelligence Requirements

Insurance brokers also operate within a broader financial-compliance environment.

NAMFISA’s long-term broker requirements identify Financial Intelligence Centre registration, a Financial Intelligence Act compliance programme and fit-and-proper information relating to qualifying owners and other relevant persons. The published requirements also refer to compliance-officer responsibilities for long-term insurance intermediaries.

Applicants should therefore prepare for compliance obligations beyond simply obtaining a licence.

A brokerage should also distinguish regulatory registration from other business requirements that may apply to its specific activities. For example, companies engaged in importing or exporting relevant goods should separately assess whether an import-export licence is required.

Submit the Application to NAMFISA

Once the documentation is ready, the application should be completed through the applicable NAMFISA Online process.

The current FIMA insurance-broker section provides registration forms for corporate and individual brokers and identifies the applicable registration standard and 2026 insurance-broker application guideline.

NAMFISA’s online process should be followed carefully, including any instructions concerning supporting documents, hard-copy submissions or additional regulatory information.

If you require assistance with administrative preparation or coordinating documentation, concierge services may be relevant to the broader business setup, although the statutory application requirements remain those prescribed by NAMFISA.

Current FIMA Framework for Insurance Brokers

One important consideration for applicants in 2026 is the transition to FIMA.

The Short-term Insurance Act, 1998 was repealed on 1 May 2026 by the Financial Institutions and Markets Act, 2021.

FIMA contains dedicated provisions for insurance brokers. Section 57 provides for applications for registration as an insurance broker, reinsurance broker or corporate insurance broker, while section 58 sets out registration considerations for individual and corporate applicants.

FIMA also contains transitional provisions for brokers who were already registered under the previous Long-term Insurance Act or Short-term Insurance Act. Such previously registered brokers are deemed registered under FIMA, subject to the transitional requirements, including an application to NAMFISA within the specified period.

For a new applicant in 2026, the current FIMA forms, standards and NAMFISA’s 2026 insurance-broker guideline should therefore be the primary reference point.

It is important not to confuse an insurance brokerage with other forms of regulated or non-profit entities. For example, registering a Section 21 company in Namibia addresses a different corporate purpose and should not be treated as an insurance-broker registration route.

Annual Renewal and Ongoing Compliance

Registering as a broker is not necessarily the end of the compliance process.

NAMFISA’s FIMA platform provides for annual renewal registration as well as other post-registration applications. The insurance-broker section includes an annual renewal process and forms, together with procedures for transferring a business, varying registration and voluntary cancellation.

A registered brokerage should maintain its regulatory records, PI cover, professional memberships and other required compliance documentation.

NAMFISA also publishes information on registered institutions and intermediaries, allowing the public to identify active registered brokers.

Variation of Registration

If the scope or circumstances of the brokerage change, a variation of registration may be required.

NAMFISA’s FIMA insurance-broker section specifically provides for an application for variation of registration and identifies the relevant insurance-broker cancellation or variation standard.

Voluntary Cancellation of Registration

A broker that intends to stop operating should use the applicable voluntary cancellation registration procedure rather than simply ceasing business activities.

NAMFISA provides a specific voluntary-cancellation application for insurance brokers under the FIMA framework.

Insurance Broker Levies and Fees

Insurance broker operations may also be subject to regulatory levies and fees.

NAMFISA states that registered regulated entities are required to pay levies imposed under the applicable Government Gazette notices and that fees apply to certain regulatory services. Its published levy information includes separate broker categories for long-term and short-term insurance.

Businesses should distinguish these regulatory charges from the costs of incorporating the underlying business entity. Information about NAMFISA registration in Namibia can provide additional context on the broader regulatory-registration process, while current NAMFISA levies and fees in Namibia can help with understanding the separate fee and levy considerations.

Because regulatory fees and levy arrangements can change, applicants should verify the current amounts directly with NAMFISA before making payment.

Working With Insurance Companies

Obtaining NAMFISA registration does not necessarily mean that a broker automatically has access to every insurer’s products.

Individual insurers may have their own appointment, due-diligence and onboarding procedures. Hollard Namibia, for example, requires its own documentation from brokers seeking to offer Hollard products, including the NAMFISA registration certificate, NIBA certification and PI cover.

For this reason, a new brokerage should consider its insurer relationships as a separate stage after regulatory registration.

How to Verify Registered Insurance Brokers

If you are a customer looking for registered insurance brokers, verify that the broker appears on the appropriate NAMFISA register.

NAMFISA publishes registered institutions and intermediaries, including active insurance brokers.

Consumers can also ask a broker to provide evidence of current registration before entering into an insurance arrangement. NAMFISA has previously advised members of the public that insurance agents and brokers must be registered before operating.

A prospective brokerage should also make sure that its underlying corporate records are correctly maintained. Those still choosing between a close corporation and other business structures can review information on close corporation registration in Namibia before making that decision.

Frequently Asked Questions

1. How do I register an insurance broker in Namibia?

Start by determining whether you will apply as an individual or corporate insurance broker. Prepare the required business, professional, fit-and-proper, PI insurance and insurer documentation, create the relevant NAMFISA Online profile, reserve the proposed name where applicable, complete the FIMA insurance broker application and submit the required supporting documents and fee.

2. Do insurance brokers need NIBA membership?

NIBA has its own juristic and individual membership requirements, including qualification or relevant insurance-industry experience, supporting documents and insurer letters of intent. Some insurer onboarding processes also require NIBA certification. NIBA membership should therefore be considered separately from statutory NAMFISA registration.

3. Is Professional Indemnity Insurance required for an insurance broker?

Professional Indemnity Insurance is part of the published broker requirements, with NAMFISA’s long-term broker requirements specifying cover of at least N$1 million. Applicants should verify the current FIMA requirements and applicable standard for their specific registration category before obtaining the policy.