Act, which mandates all the companies to invest a portion of their funds into housing development sector.
Section 5 of the NHF states that every insurance company must invest a minimum of 20 per cent of its non-life funds and 40 per cent of its life funds in real property development but 50 per cent of the fund must be invested into the NHF through the“Every registered insurance company shall invest a minimum of 20 per cent of its non-life funds and 40 per cent of its life funds in real property development of which not less than 50 per cent shall be paid into the Fund through the Federal Mortgage...
The lawmaker ordered the clerk of the committee to write letters to all the insurance companies, fixing a date to appear.
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