Insurance recapitalisation: Regulatory concessions to chronic defaulters undermine sound macroeconomic policy — Kari

A former Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission (NAICOM), Mohamed Kari, has urged the Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele, to ignore calls for regulatory concessions following the recently concluded insurance industry recapitalisation exercise in the country.
This development was confirmed to Daily Sun by NAICOM.
Kari said the call was critical, especially as the companies clamouring for such concessions were chronic defaulters whose failure or strict regulatory discipline would pose no systemic risk to the Nigerian financial system or the broader economy.
NAICOM had earlier directed insu...