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Insurance regulator suspends two insurers, one reinsurer

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Zimbabwe's Insurance and Pension Commission has suspended KMFS Insurance, Global Insurance Co. and New Reinsurance Company of Harare (Pvt.) Ltd. from underwriting new business, The Herald reported.

The suspension is because of the firms' failure to meet minimum capital requirements. IPEC said that these entities were holding capital below the current minimum regulatory capital of $1.5 million.

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