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International

Regulator ups insurers' capital requirement by 300%

May 21, 2019 Reprints

Nigeria's insurance regulator has increased general insurers' required minimum paid-up capital by more than 300% to 10 billion Nigerian naira ($28 million) from the current NGN 3 billion, Daily Trust reported. Under the rules, reinsurers will need to increase their capital to NGN 20 billion from the current NGN 10 billion by June 30, 2020.

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Regulator ups insurers' capital requirement by 300%

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