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IRA shuts down two insurers, advises policyholders to seek alternatives

By David Njaaga | 2yrs ago
The Insurance Regulatory Authority places Xplico Insurance under statutory management and liquidates Invesco Assurance. [Standard, File]

The Insurance Regulatory Authority (IRA) has taken drastic action against two insurance companies that were facing financial difficulties.

In a statement on Friday, IRA said Xplico Insurance Company Limited has been placed under statutory management by the Policyholders Compensation Fund (PCF), effective December 8, 2023.

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Related Topics

["Insurance Regulatory Authority (IRA)","Xplico Insurance Company Limited","Invesco Assurance Company Limited","Liquidation"]
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