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New minimum capital requirement for insurance companies to be announced soon

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The Commissioner of Insurance, Justice Ofori says  a new minimum capital requirement for insurance companies will be announced soon.

Insurance companies will be given between 18 months to 2 years to meet the new requirement.

He said the National Insurance Commission (NIC) is working closely with the Finance Ministry on the new capital requirement prior to a public launch.

Speaking to GBC’s Business News, Mr. Ofori indicated that, the NIC is engaging stakeholders to ensure a consensus.

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