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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