Newsletter
MINIMUM CAPITAL ADEQUACY RATIO FOR INSURERS TO BE SET AT 200%
The Ministry of Finance (MOF) recently an-nounced the Regulations Governing the Capital Adequacy of Insurance Companies to set the minimum capital adequacy ratio for insurers at 200%, subject to a two-year buffer period. The regulations will take effect from 9 July 2003. Companies that do not meet the required ratio will have to increase their capital or reduce their holdings of risk assets, such as in reinvested en-terprises.