FINANCE minister Mthuli Ncube says the insurance industry, which is struggling to meet prescribed asset requirements, should look at private equity approved by the government.
According to the latest Insurance and Pensions Commission (Ipec) reports, the majority of companies in the insurance and pension sector have failed to meet prescribed asset thresholds.
Ncube told an online meeting on the compensation framework for losses suffered by clients during the 2009 currency conversion that the industry remained a key player in the country through the provision of risk mitigation, social protection and investment in various sectors of the economy.
“Notwithstanding these contributions, the government calls upon the industry to do more, particularly investments in prescribed assets since this is a statutory requi
Subscribe to The Financial Gazette
This is premium content. Subscribe to read article.