Bank of Lithuania

The Board of the Bank of Lithuania ruled that insurance brokers must pass an examination to prove their qualification. The insurance law provides for only an impeccable reputation natural person who has passed a qualifying examination for insurance brokers to become an insurance broker. Currently, the number of natural person who hold an insurance broker’s licence is 911.

It was established that applicants must submit their documents to the Bank of Lithuania within 14 days after publication of the said ruling, including the day of publication, in the Annex “Informaciniai pranešimai” of the official gazette “Valstybės Žinios”. The Bank’s Supervision Service has been instructed to adopt decisions regarding the qualifying examination and the list of insurance brokers.

The qualifying examination for insurance brokers is expected to be organised on 17 April this year.