Five insurers placed under interim administration

The Central Bank of Liberia (CBL) has placed five local insurers under interim administration.

They are African Insurance Corporation of Liberia (AICOL), Capital Express Assurance Company (CEAC), Continental General & Life Insurance Corporation (CGLIC), Family Dollar Universal Insurance Services (FDUIS) and Global Trust Assurance Company (GTAC).

CBL justified this decision by the poor level of capitalization of the afore-mentioned companies and by the need to protect the interests of policyholders.

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