The insurance sector is safe

On NamibRe’s tenth anniversary, deputy finance minister has estimated that the insurance sector is healthy. The country totals 32 insurers; which is a little too many for such a small country. The assets run by the entire financial sector amount to 86.1 billion NAD (11.1 billion USD) and the sums invested in the pension funds attained 64 billion NAD (8.2 billion USD). NamibRe has witnessed a 60% increase of its written premiums between 2007 and 2009. A minimum capital will soon be required for insurance companies.