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Illustrated portrait of Monaco, Andorra and San Marino; geographic and cultural interpretation, not regulator premises.
← The regulatory atlasCOUNTRY PERSPECTIVE / Monaco, Andorra and San Marino

Separate national jurisdictions

Monaco, Andorra and San MarinoNational supervisory authorities

Insurance supervision in Monaco, Andorra and San Marino.

AI-generated country illustrationSources checked

01 / The institution

National supervisory authorities

Monaco, Andorra and San Marino have separate authorisation and supervisory arrangements. A licence in one does not establish authorisation in the others.

How it is structured

Separate national jurisdictions

Institutional source ↗

The legal foundations

Mandate, written into law.

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

01

National jurisdiction

Monaco · government insurance authorisation ↗

Monaco’s official business portal provides the procedure for approval of insurance companies. The exact division of prudential and local authorisation responsibilities requires case-specific confirmation.

02

National jurisdiction

Andorra · AFA ↗

Law 12/2017 regulates and supervises insurance and reinsurance in Andorra.

03

National jurisdiction

San Marino · BCSM ↗

Law 165 of 17 November 2005 supplies the financial and insurance framework. The cited central-bank consolidation has a stated historical cut-off.

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.

Insurance penetration. These jurisdictions do not share a single insurance penetration ratio. Any figures below apply only to the expressly named market.

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.

04 / Official contacts

Reach the institution.

Public institutional channels, checked 17 September 2026.

Monaco · government insurance authorisation
Official supervisory or legal informationSource ↗

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. Réglementation, agréments et déclarations ↗Checked
  2. Réglementation, agréments et déclarations ↗Checked
  3. Llei 12/2017, del 22 de juny, d’ordenació i supervisió d’assegurances i reassegurances del Principat d’Andorra — AFA - Autoridad Financiera Andorrana ↗Checked
  4. Legge n. 165 del 17 novembre 2005 ↗Checked
  5. Monaco, Andorra and San Marino publications ↗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.