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Ecuador: Planned regulatory changes for insurance include capital requirements

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Draft proposals for regulatory changes for the insurance sector in Ecuador have been released, reports EntornoInteligente.com.

The law is aimed at strengthening the private insurance system.

The bill says that minimum capital required for establishing an insurer should be $8 million and for a reinsurer $13 million.

It also says that required capital for companies operating in insurance and reinsurance should be $13 million, EntornoInteligente.com reported.

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