And Pensions and Insurance Authority Registrar Martin Libinga said there was need to make the pension systems efficient in order to meet the needs and aspirations of the Zambians.

Though the intentions were maybe noble, the efforts to blow the whistle on the secret burial came too late already to stop the inevitable.

Mr Libinga said capital forms the basis of financial strength for any insurance company and supports better risk management and market confidence.

Mr Libinga said the Insurance Bill and Pensions Scheme Regulation Bill were currently being finalised at the Ministry of Justice, which would have some provisions that support micro insurance.

THE Pensions and Insurance Authority (PIA) is proposing a new capital requirement for insurance companies in the country. Registrar Martin Libinga said the new capital requirement, was the right ...