New capital rules to reduce number of insurers

Posted On: Aug. 13, 2019 6:08 AM CST

Nigeria-based investment bank Chapel Hill Denham Securities Ltd. said that the regulators’ new capitalization requirements are likely to reduce the number of local insurers to about 20 from the current 57, Middle East Insurance Review reported. Chapel Hill Denham said that currently, only five insurers meet the new capital requirements.