The stated capital obligations of an insurer according to the class of insurance business.
Class of Insurance Business | Amount |
General Insurance Business | USD 200,000 or equivalent in another currency |
Long Term Insurance Business | USD 250,000 or equivalent in another currency |
Reinsurance Business | USD 300,000 or equivalent in another currency |
Captive Insurance Business | USD l00,000 or equivalent in another currency |
It should be noted that no insurer is allowed to transfer or amalgamate any of its insurance business without the approval of the Financial Services Commission.