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Respite for insurers as NAICOM extends recapitalisation deadline to Sept. 30, 2021

…applies phased compliance arrangement over COVID-19

The National Insurance Commission (NAICOM) has extended full compliance deadline for the ongoing recapitalisation exercise in the insurance industry to September 30, 2021, with first phase to end December 31, 2020. The commission said on Wednesday that insurance companies are expected to recapitalise 50 percent of the paid-up share capital by end of 2020, and…



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