Closing date for the implementation of the new minimum share capital requirements

The National Insurance Commission, (NIC), has issued an ultimatum to a Ghanaian insurance company in order to comply with the requirements of minimum capital requested. The name of the company that is likely going to lose its license has not yet been disclosed.

It is worth reminding that the minimum share capital has been set at 15 million GHC (3.8 million USD) for insurers and at 40 million GHC (10.2 million USD) for reinsurers.

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