Registration in the Register of insurance and reinsurance intermediaries

The requests of registration in the Register of insurance and reinsurance intermediaries and the applications for certificate must to be sent by intermediaries to:

Central Bank of San Marino
Supervision – Insurance Supervision
Via del Voltone, 120 - 47890 San Marino
E-mail: dipartimento.vigilanza@bcsm.sm

The activities of insurance and reinsurance mediation is subject to the prior authorization of the Central Bank.

The carry out the above mentioned activities is provided by Regulation No. 2007-02, available on the website of the Central Bank in the section Legislation/Regulations.

In reference to the applications sent by sammarinese intermediaries, the Central Bank specifies that, pursuant to art. 10 of Regulation No 2007-02, within thirty days from the date request for licensing, prepared according to the model enclosed under Annex B of above mentioned Regulation (cf. art. 9), the relative acceptance or denial.

With regard to the applications sent by foreign intermediaries, the Central Bank specifies that, pursuant to art. 27 of Regulation No 2007-02, within ninety days from the date request for licensing, prepared according to the model enclosed under Annex D of above mentioned Regulation, the relative acceptance or denial.

In case of acceptance, the Central Bank issues a certificate in order to allow the applicant to pursue all the necessary and further actions foreseen by the Republic of San Marino Laws.

In particular, it is necessary to obtain a business license in order to operate as economic operator in the Republic of San Marino in accordance with Law 40/2014.

Once produced this business license, the subject is enlisted under the relevant section of the Registry and thus it obtains the permission to operate in the Republic of San Marino.

The applicants must to elect in San Marino an establishment in order to carry out insurance and reinsurance mediation.

In addition, we inform that the absence of an establishment in the Republic of San Marino, even elected at the same place of business of another enrolled intermediary (as long as a collaboration agreement under exclusivity terms has been signed between the intermediaries involved), is not consistent with the registration in the Sammarinese Register of insurance and reinsurance intermediaries, pursuant to art. 15, paragraph 1, lett. d) of Regulation no. 2007-02, together with an establishment elected at professionals’ offices or at other business offices unrelated with the activity of insurance and reinsurance mediation.