Insurers seek capitalization-hike suspension

INSURANCE groups will push for the suspension of the scheduled increase in the capital requirement of players, as the current level is enough for them to remain competitive, according to an industry leader.

In an interview on Tuesday night, Philippine Life Insurance Association (PLIA) President Hans Loozekoot said his group was working together with the Philippine Insurers and Reinsurers Association (PIRA) to convince regulators to maintain the P900-million net worth of insurance firms by 2022.