Management of FBNInsurance Group said the announcement last week by the insurance regulator, the National Insurance Commission (NAICOM) of a new risk based capital requirement for insurance companies in Nigeria, is the best thing to have happened to the market at this time.
The company said the Tier-Based risks capital will increase the financial capacity of insurance companies to enable them retain more risks in Nigeria, enjoy better returns on earnings, enhanced returns to shareholders, as well as ability to meet obligations.
