Increase in the minimum capital of insurance companies in Ethiopia
The National Bank of Ethiopia (NBE) has issued a directive establishing minimum capital required to operate an insurance activity. Non-life insurers will now have a minimum capital of 60 million ETB (3.3 million USD) against 4 million ETB (221 840 USD) currently in force while life insurers will have to raise theirs from 3 million ETB (166 380 USD) to 15 million ETB (831 900 USD).
The companies have up to 31/12/2015 to comply with this directive.
0
Your rating: None
Fri, 07/06/2013 - 11:30
The online magazine
Live coverage
03/28
03/28
03/28
03/28
03/27
Latest news