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Member, Beacon International Group, Ltd.
An analysis covered by Nigerian daily BusinessDay has shown that the National Insurance Commission's implementation of new solvency provisions is putting pressure on some of the country's insurers.
Under these provisions, insurers are required to maintain liquidity in excess of the value of admissible assets over liabilities at all times. BusinessDay also reported that this quarterly test would be conducted every month once NAICOM starts electronic-regulation.