The Office of the Registrar of Insurance and Retirement Funds (RIRF) would like to advise the industry that former Chief Executive Officer and Director of ImpiloYami Insurance Brokers Pty Ltd (2007 -2009), Lionel Oswald Reid has been declared an undesirable person who is unfit to transact in the insurance and retirement funds industry in terms of Regulation 14 (3)(d) of the Insurance Regulations 2008 as read with RDI 13 of the Insurance Directive 13 of 2008.
The above mentioned person is debarred from applying for a new license within the insurance and retirement industry for a period of ten years or until RIRF is satisfied that he has been rehabilitated.
This decision was made an order of court in terms of section 116 of the Insurance Act 7/2005 on the 4th October 2011 and upheld by High Court of Swaziland on 9th of December 2011 upon an appeal by Mr. Reid against RIRF’s decision.