KABANDA CHULU, Lusaka
THE Pensions and Insurance Authority (PIA) says the new minimum capital requirements have kept away insufficiently capitalised players from entering the Zambian market.
The PIA has since stopped issuing operating licences to insurance companies that have not met the minimum capital requirements.
PIA communications manager Doreen Kambanganji-Silungwe said the Zambian insurance industry is poised for growth.
“The authority anticipates normal growth for 2017 based on the preliminary results so far. However, a clear position in terms of actual numbers will be given once the authority receives the audited financial statements.
“But the new capital regulations have kept away insufficiently, capitalised players from entering the…http://epaper.daily-mail.co.zm/