Voting Members
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.
Voting membership fees are calculated as follows:
- The NaSIA fee model has 3 components:
- Members will pay a minimum fixed fee as approved from time to time;
- The 65% portion of the remaining split (after fixed fees deduction) would be shouldered based on member group Assets under Management (AuM); and
- 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.