ISLAMABAD (Web Desk) – The Securities and Exchange Commission of Pakistan (SECP) has increased the minimum paid up capital requirement for insurance companies by two hundred million rupees.

The Commission amended the rules under which the baseline paid-up capital requirement for non-life and life insurance companies has been prescribed as 500 million rupees and 700 million rupees respectively.

These new capital requirements would be applied in a phased manner. The existing insurance companies would be allowed a period of two years to meet the said requirements.