Regulator ups insurers' capital requirement by 300%
Posted On: May. 21, 2019 7:13 AM CSTNigeria'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.