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Increase in capital requirement will strengthen Pakistan's nonlife sector: Regulator

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Pakistan's top regulator said it will be 'appropriate' to raise nonlife insurers' minimum paid-up capital requirement to 500 million Pakistani rupees ($4.7 million) by 2017, The Express Tribune reported.

The Securities and Exchange Commission of Pakistan said in a report that the increase in the requirement would strengthen the insurance sector.

The report also said 65% of players in the nonlife insurance sector account for only 18% of the market.

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