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New rules in Sri Lanka's insurance industry to encourage market consolidation: Fitch

December 16, 2013 - 6:00am

Fitch Ratings Inc. said the many regulatory changes introduced in Sri Lanka's insurance industry are expected to encourage market consolidation, which would be positive for the industry, Sri Lankan newspaper The Nation reported.

The new rules include implementation of a risk-based capital regime, segregation of composite insurers to life and nonlife and increase of minimum capital requirements.

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