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Illustrated portrait of Botswana; geographic and cultural interpretation, not regulator premises.
← The regulatory atlasCOUNTRY PERSPECTIVE / Botswana

Non-bank financial regulator

BotswanaNBFIRA

Insurance supervision in Botswana.

AI-generated country illustrationSources checked

01 / The institution

Non-Bank Financial Institutions Regulatory Authority

The NBFIRA Act governs the authority. The Insurance Industry Act and its 2019 regulations commenced on 17 May 2019, replacing the earlier insurance regime.

How it is structured

Non-bank financial regulator

Institutional source ↗

The legal foundations

Mandate, written into law.

Establishing legislation and the rules governing insurance may be different instruments.

01

Institutional and insurance framework

NBFIRA Act 2023; Insurance Industry Act 2015 ↗

NBFIRA’s 2024 annual report identifies the 2023 authority act and the Insurance Industry Act 2015, together with the 2019 insurance regulations, as the supervisory framework.

02 / Market signals

The numbers, with context.

Figures retain the reporting period and accounting basis of their source. They are snapshots, not live indicators or directly comparable country rankings.

2023 financial resultsBWP 2.9bn

Reporting life insurance revenue

IFRS 17 reporting subset; approximately 3% growth against restated 2022.

PDF pages 41–43 ↗
2023 financial resultsBWP 1.3bn

Reporting general insurance revenue

IFRS 17 reporting subset; approximately 16% growth.

PDF page 43 ↗

Insurance penetration. A current premium-to-GDP ratio has not been independently verified for this profile. No estimate is substituted.

03 / The report notebook

A dated view of the market.

What we noted in the regulator’s publications. Each entry separates the period covered, publication date when known, and our review date.

ReviewedNOTE 01

2023 financial results

NBFIRA Annual Report 2024 — insurance financial performance ↗

Insurance chapter and IFRS 17 transition footnotes reviewed. The selected life insurers represent 77% of market GWP and selected general insurers 63%; these financial results are not whole-market totals. A newer report was not retrieved.

A break in comparability

IFRS 17

Insurance revenue differs from gross written premiums. The report also uses IFRS 4 for medical aid funds, so the measures cannot be combined without adjustment.

NBFIRA Annual Report 2024 — insurance financial performancePDF pages 40–44 · Country illustration
Read the original publication ↗

04 / Official contacts

Reach the institution.

Public institutional channels, checked 17 September 2026.

Research trail

Sources you can follow.

Independent editorial research by Insurers Global. Source dates do not certify that a law includes every subsequent amendment.

  1. Commencement of the Insurance Industry Act 2015 and Regulations - NBFIRA (https://www.nbfira.org.bw/news/commencement-insurance-industry-act-2015-and-regulations/) ↗Checked
  2. Institutional website — contact route ↗Checked
  3. NBFIRA annual report 2024: insurance legal framework ↗Checked
  4. NBFIRA Annual Report 2024 — insurance financial performance ↗Checked

Country scenes are AI-generated illustrations made with OpenAI image tools, not official regulator photographs or endorsements. Quotations remain searchable text. Report figures and directory verification are maintained separately.