Risk-based supervision likely to reduce number of small insurers: Official

Allan Mafabi, chief executive of Britam Insurance Company (Uganda) Ltd., said that the introduction of risk-based supervision is likely to reduce the number of small insurers in Uganda, Daily Monitor reported. Under the new supervision model, insurers will need to maintain risk-based capital for underwritten premiums in addition to the minimum capital requirements. Mr. Mafabi said that small insurers may struggle to comply as they would need to match capital with premiums.

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