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Capital requirement likely to drive consolidation among insurers

Takaful insurance

A report said that a proposed rise in minimum capital requirements for Islamic insurers in the Gulf Cooperation Council region is likely to lead to consolidation in the sector, GDN Online reported. Nearly 90% of insurers in Saudi Arabia will need to raise new capital, explore mergers or exit the market if the regulator increases minimum capital requirements to 500 million Saudi Arabian riyals ($133 million) from the current SAR 100 million.

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