2 Section 1(4)(a): meaning of “financial services”

2  Section 1(4)(a): meaning of “financial services”

(1)     In section 1(4)(a) “financial services” means any service of a financial nature, including (but not limited to)—

(a)     insurance-related services consisting of—

(i)     direct life assurance;

(ii)     direct insurance other than life assurance;

(iii)     reinsurance and retrocession;

(iv)     insurance intermediation, such as brokerage and agency;

(v)     services auxiliary to insurance, such as consultancy, actuarial, risk assessment and claim settlement services;

(b)     banking and other financial services consisting

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