Ghana implements risk-based capital system for life insurers

The National Insurance Commission (NIC) is currently working on implementing a Risk-Based Capital (RBC) solvency model for life insurance companies.

This initiative is intended to measure the minimum capital an insurance company must have to operate successfully.

The NIC is also planning other initiatives aimed at improving the Ghanaian life insurance sector, such as the development of a mortality table specific to the local market and an actuarial capacity-building program.