Fixed minimum share capital for Filipino insurers

Insurance Commission indeThe Insurance Commission aims to maintain the minimum capital requirement for local insurers at 900 million PHP (17.6 million USD). This opposes the current insurance code which plans to raise the capital to 1.3 billion PHP (25.24 million USD) by 2022.

For the Insurance Commission, this requirement is no longer necessary. The increase to 1.3 billion PHP (25.42 million USD) would provide the Filipino market with the highest minimum capital requirement in Southeast Asia.

Read also | Philipino insurers against capital increase

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