We have updated our financial reporting requirements for all licensees, effective from 2025. These reporting requirements shall comprise:

1. Annual Financial Reports (AFR):

Licensees will be required to submit Annual Financial Reports covering the entire twelve (12) months of their financial year. These reports will include select key financial figures extracted from the licensee’s financial statements. The submitted figures do not need to be audited unless the financial audit has already been completed. For clarity, this requirement does not replace the obligation to provide audited financial statements.

2. Interim Financial Reports (IFR):

Interim Financial Reports will mirror the Annual Financial Reports but will cover the first six (6) months of the licensee’s financial year. This requirement will replace the current Interim Financial Statements.

Due Date:

Both reports must be populated by licensees no later than two (2) months from the end of each respective reporting period. By way of an example, licensees with a financial year ending December must submit their first AFR for 2024 by 28 February 2025, whilst the 2025 IFR must be submitted by 31 August 2025.

Submission through the Licensee Portal:

All financial figures are to be submitted through the Licensee Portal which can be accessed here. Licensees will be required to select the respective AFR and IFR records which will be visible in Draft mode in the licensee’s timeline. Upon clicking on the record, the licensee shall be guided on the required key financial figures to be reported

For any clarification or additional guidance, licensees are kindly requested to contact the MGA by sending an email to [email protected].