Eight insurance companies threatened of license withdrawal

According to the National Insurance Commission (NIC), eight Ghanaian insurance companies could lose their license for non-compliance with the regulatory requirements.

Under the new rules governing the market, insurance companies have until 30 September 2016 to bring their capital to a minimum of 15 million GHS (3.8 million USD).

The minimum capital of reinsurance companies is, for its part, set at 40 million GHS (10.2 million USD).

Read also:

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• The Kenyan insurance supervisory authority suspended the activities of 70 companies