casibom casibom casibom casibom casibom giriş casibom casibom giriş casibom giriş casibom casibom casibom casibom giriş casibom PORNOOOOO ANAMI SİKİN BEN ANAMI SİKTİRİYORUM CASİB ANAMI SİKT,İLER EYVAHHH DOLANDIRICIYIZ BİZ PARA İÇİN ANAMI SATIYORUM LİNK PORNO YETER AM ACIDI PORNOSU casibom casibom casibom casibom casibom casibom giriş casibom Casibom giriş casibom casibom casibom PİSHİNG ANASINI SİKTİRENLER PİSHİNG ANASINI SİKTİRENLER PİSHİNG ANASINI SİKTİRENLER PİSHİNG ANASINI SİKTİRENLER PİSHİNG ANASINI SİKTİRENLER PİSHİNG ANASINI SİKTİRENLER PİSHİNG ANASINI SİKTİRENLER casibom giriş https://www.zawadzky.edu.co/ casibom Casibom796 HD KALİTEDE PORNO FİLM İZLE HD KALİTEDE PORNO FİLM İZLE HD KALİTEDE PORNO FİLM İZLE HD KALİTEDE PORNO FİLM İZLE HD KALİTEDE PORNO FİLM İZLE casibom casibom casibom Meritking Meritking casibom casibom casibom ultrabet Casibom HD PORNO HD PORNO PORNO HD HD PORN casibom güncel giriş casibom extrabet Casibom resmi giriş https://carisca.knust.edu.gh/casibom/ https://carisca.knust.edu.gh/meritking/ https://carisca.knust.edu.gh/ultrabet/ https://carisca.knust.edu.gh/sahabet/ https://carisca.knust.edu.gh/romabet/ https://carisca.knust.edu.gh/pusulabet/ https://carisca.knust.edu.gh/perabet/ https://carisca.knust.edu.gh/padisahbet/ https://carisca.knust.edu.gh/oslobet/ https://carisca.knust.edu.gh/onwin/ https://carisca.knust.edu.gh/mobilbahis/ https://carisca.knust.edu.gh/milanobet/ https://carisca.knust.edu.gh/matadorbet/ https://carisca.knust.edu.gh/jojobet/ https://carisca.knust.edu.gh/holiganbet/ https://carisca.knust.edu.gh/hitbet/ https://carisca.knust.edu.gh/extrabet/ https://carisca.knust.edu.gh/betvole/ https://carisca.knust.edu.gh/betturkey/ https://carisca.knust.edu.gh/betebet/ https://carisca.knust.edu.gh/bets10/ extrabet casibom casibom https://carisca.knust.edu.gh/marsbahis/ https://bongopix.com/ultrabet/ casibom casibom casibom casibom https://community.onlinedigihub.com/d/2-casibom-giris-hesabiniza-adim-adim-erisim https://community.onlinedigihub.com/d/3-casiboma-hizli-ve-kolay-giris-yapin https://community.onlinedigihub.com/d/4-casibom-giris-rehberi-hizli-ve-guvenli-erisim https://community.onlinedigihub.com/d/24-betnef-giris-adresi-2025 https://community.onlinedigihub.com/d/25-casibom-casibom-giris-casibom-guncel-giris casibom https://community.onlinedigihub.com/d/35-extrabet-extrabet-giris-extrabet-guncel-giris https://community.onlinedigihub.com/d/38-casibom-2025-casibom-en-iyi-slot-casino-sitesi-giris https://community.onlinedigihub.com/d/39-casibom-pazar-giris https://cassiresmi.tumblr.com/ casibom casibom giriş https://carisca.knust.edu.gh/bahislion/ https://carisca.knust.edu.gh/betmatik/ https://carisca.knust.edu.gh/bahsegel/ https://carisca.knust.edu.gh/deneme-bonusu-veren-siteler/ https://community.onlinedigihub.com/d/41-casibom-pazartesi-giris https://community.onlinedigihub.com/d/49-casibom-sali-gunu-giris casibom casibom https://bongopix.com/casibom-giris/ casibom https://github.com/extrabetguncvell/extrabetgirisii/issues/1 https://doctordeshpande.com/casibom-casibom-guncel-giris-adresi-2025/ https://doctordeshpande.com/jojobet-jojobet-giris-adresi-2025/ https://casibomgirisi.onlinedigihub.com/ https://giris-2024.onlinedigihub.com/ https://casibom-giris-org.onlinedigihub.com/ https://bomcak.onlinedigihub.com/ https://casibom-giris-org.onlinedigihub.com/ https://casgnydn.onlinedigihub.com/ https://casiisgeceburda.onlinedigihub.com/ https://gvnligiris.onlinedigihub.com/ https://casibom-giris-resmi.onlinedigihub.com/ https://casibom-giris-resmi.onlinedigihub.com/ https://casibomguncel.onlinedigihub.com/ https://casibomguncelgiris.onlinedigihub.com/ https://casibomgirisguncelpersembe.onlinedigihub.com/ https://casibomgunceltek.onlinedigihub.com/ https://casibo-tkla-tek-gncel-giris.onlinedigihub.com/ https://casibom-telegram.onlinedigihub.com/ Casibom Padişahbet casibom casibom https://bsc.ly/ PİŞSHİNG O .Ç casibom casibom casibom casibom casibom https://www.hoyolab.com/article/35188832 casibom https://www.hoyolab.com/article/35188924 https://www.hoyolab.com/article/35188959 https://www.hoyolab.com/article/35189000 https://www.hoyolab.com/article/35189022 casibom casibom casibom https://casibomresmi.onlinedigihub.com/ casibom
RBS: NAICOM Introduces Tier-Based Recapitalisation for Insurers, implementation January 1, 2019 - The Revealer
Insurance

RBS: NAICOM Introduces Tier-Based Recapitalisation for Insurers, implementation January 1, 2019

The Federal Government through the insurance industry regulator, National Insurance Commission (NAICOM) has introduced a 3-tier recapitalisation for the insurance industry.

This is in line with NAICOM’s strategic plans for a successful implementation of the Risk Based Supervision (RBS) in Nigeria. It is known as “Tier-Based Minimum Solvency Capital.”

Giving an overview of  what the Tier-Based Minimum Solvency Capital is all about, the Deputy Commission for Insurance (Technical), Sunday Thomas, who represented the Commissioner for Insurance, Alhaji Mohammed Kari, at a media parley in Lagos yesterday, said the adoption of the model will help the industry to make a difference in the financial services sector of the nation’s economy by optimizing its growth potential through insurance penetration as well as contribute significantly the nation’s economy.

He said as a result of the challenges faced by the industry, NAICOM has decided to introduce the tier-based capitalization in order to work-out the minimum solvency margin in accordance with the existing risks.

Thomas said the commission is not withdrawing any licence, but will re-issue new operating licences to operators to operate in the tier that they consider appropriate and have the capital.

According to the insurance regulator, the new arrangement had ceded high profiled businesses to tier one, while tier two will also handle medium businesses and low businesses are left for operators in tier three.

He said the solvency capacity of insurers in tier one allows them to undertake businesses  in tiers two and three including those exclusively for those in tier one, such as engineering, oil and gas, aviation among others.

In his presentation on “Recapitalization Of Insurance Companies: The Tier-Based Minimum Solvency Capital” the Director, Supervision, National Insurance Commission (NAICOM), Mr, Barineka Thompson, said the commission has  slated August 6-10, 2018, for awareness session with board members and key management staff of insurance companies.

He said the issuance of notification letter on assessed capital level, will be from August 13 to 17, 2018 and submission of board’s decision by operators to NAICOM will be not later than September 14, 2018.

In the new dispensation, composite insurance companies interested to play in the Tier 1 category are now expected to increase their capitalization from the present N5 billion to N15 billion, while those interested in the same tier but operating life business are mandated to upgrade their capital base from N2 billion to N6 billion, even as non-life insurers planning to do business in this Tier are expected to raise capital from N3 billion to N9 billion.

Also, composite insurers intending to operate in Tier 2 are expected to increase their capitalization to N7.5 billion, non-life operators are required to increase their capital base to N4.5 billion, while life operators under Tier 2 category are expected to increase capitalisation to 3 billion.

But for insurance firms intending to do business in the lowest tier, which is Tier 3, they are expected to maintain the current capital base of the Insurance industry meaning that Non Life insurance firms in Tier 3 are  to maintain N3 billion; Life Insurance operators, N2 billion and Composite insurers are to maintain N5 billion capitalization.

He said the commission is not withdrawing any license, but to ensure a company has adequate capital to absorb the risks it is taking, noting that the recapitalisation became desirable as inflation and interest rates have increased in the last 10 years, while insurers were still operations with the same capitalization of 2007.

” Interest rate has gone from single to double digit, interest rate has increased over time and with many macroeconomic and institutional factors on the upward trends, while the industry still maintain the same capitalisation in the last 10 years. So, it is desirable for operators to now choose which tier they want to operate in. Some companies are finding it difficult to fulfill their obligations to their policyholders and shareholders because they are carrying risks above their limits,” he stressed.

While stating that this initiative will enhance soundness and profitability of insurers through optimal capitalization, he added that the introduction of proportionate capital will support the nature, scale and complexity of the business conducted by insurers.

”In this instance, there is no cancellation of license, but operators will be subjected to solvency control levels and no mandatory injection of fresh capital by insurers,” he explained.

The difference between the three tiers, according to him, is in the nature of businesses they would be allowed to underwrite.

Risk-Based Supervision (RBS) is gradually becoming the dominant approach to regulatory supervision of financial institutions around the world. It is a comprehensive, formally structured system that assesses risks within the financial system, giving priority to the resolution of those risks.

 

 

 

 

 

 

Edet Udoh

We are The Revealer, a general online news platform based in Nigeria. Our focus amongst others is to provide credible, factual, well researched and balanced news and articles for our teeming readers in business, governments, politics, engineering, science, religion, technology etc. Edet Udoh is the Managing Editor. He is an experienced media person. He has worked extensively with the Champion Newspapers, The Authority Newspapers and the Blueprint Newspaper before starting Revealer Online News platform in 2018. He can be reached with this email address: edetudoh2003@gmail.com or via these phone numbers 08061246427 and 08170080488

Related Articles

Back to top button