30.2 C
Accra
Tuesday, January 25, 2022
No menu items!

National Insurance Commission to set first quarter of next year to increase minimum capital requirement.

Must Read

CHIPS Compound: Abandoned project at Atomfourso

By Thomas Nsowah Adjei The Chiefs and People of Atomfourso near Seikwa in the Tain District of Bono Region have...

GACC says it is not surprised at Ghana’s dip in progress against corruption

Head of Programmes at the Ghana Anti-Corruption Coalition, Bright Sowu, says Ghana's failure to make progress in the fight...

Office of Special Prosecutor reacts to Ghana’s shortfall in fight against corruption

The Office of the Special Prosecutor says it has taken note of Ghana’s performance on the 2021 Corruption Index...

The National Insurance Commission has now set the first quarter of next year as a new date for announcing the increase in the minimum capital requirement for Insurance firms.
Earlier this year the Commissioner indicated that it will increase the minimum level  from about 15 million Cedis before the end of this year.
There were speculations that it could settle on an increase of about 50million Ghana Cedis but according to the Commissioner Justice Yaw Ofori the Commission wants to fine tune directives before the announcement.
According to the Commissioner the whole process is very delicate and needs a lot of calculations to be done.
He added that “it is dear to the heart of the industry and we have to make sure it is done well”.
When the Commissioner spoke to Business News at  the second National Insurance Commission Chairman’s cocktail reception held in Accra, he revealed that this is about the 15th or 16th version of the minimum capital document and they would want to carefully go through before coming out with any decision.
Justice Yaw Ofori assured Ghanaians that the Boad of Directives are very much interested and  will soon come out with a statement pertaining to the minimum capital requirement.
He said the outcome will be something acceptable to the majority, not only to industry players but also policy holders.
Story by: Mabel Adorkor Annang
 

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest News

CHIPS Compound: Abandoned project at Atomfourso

By Thomas Nsowah Adjei The Chiefs and People of Atomfourso near Seikwa in the Tain District of Bono Region have...

GACC says it is not surprised at Ghana’s dip in progress against corruption

Head of Programmes at the Ghana Anti-Corruption Coalition, Bright Sowu, says Ghana's failure to make progress in the fight against corruption in the year...

Office of Special Prosecutor reacts to Ghana’s shortfall in fight against corruption

The Office of the Special Prosecutor says it has taken note of Ghana’s performance on the 2021 Corruption Index released January 25, 2022, by...

They have seen wisdom in engagement- Deputy Minority Whip

By Lilian Owusu-Mensah Member of Parliament for Banda and first Deputy Minority whip, Hon Ibrahim Ahmed has stated that the majority caucus in parliament are...

Fight Against Corruption would yield more results with involvement of Private Sector- Bright Sowu

Head of Programmes at the Ghana Anti-Corruption Coalition Bright Sowu has commended the Special Prosecutor Kissi Agyebeng for involving the public in the work...

More Articles Like This