Recapitalisation: Business Restriction Looms For Low Capitalised Insurers

While this model will not prescribe any uniform capital, low capitalised insurers will face business restriction when the exercise commences.

While the last aborted recapitalisation exercise recognised share capital as the base of the exercise, there are indications that the current one may recognise Shareholders Fund as the capital under the exercise, thus, making the new exercise seamless and easier for the big players. Stating that this initiative will enhance soundness and profitability of insurers through optimal capitalisation, even as it introduces proportionate capital that supports the nature of insurance business, he stressed that, complexity of the businesses being conducted by insurers means the industry must undergo risk-based recapitalisation.

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