Philipino insurers against capital increase

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Insurance commission PhilippinesLife and non-life insurers' associations are pressuring the market regulator to keep the companies' share capital at 900 million PHP (17.2 million USD). Under the new legislation, the latter is expected to reach 1 billion PHP (19.1 million USD) for new companies wishing to enter the market while that of existing companies would increase to 1.3 billion PHP (24.9 million USD) in 2022.

For the market professionals, companies are sufficiently capitalized and do not need more funds to operate. Instead of increasing the capital, insurers would like to invest more funds in the digitalization of their insurance processes.

Read also | Fixed minimum share capital for Filipino insurers

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Thu, 15/08/2019 - 11:35
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