Hence, the return on investment fell to around 5.5 percent in June 2012 from over 6 percent in the previous year, and the return on equity slowed to 12 percent from almost 14.5 percent over the same period. At the end of June 2012, the Statutory Fund for the consolidated life insurance sector was in surplus.
However, two life insurance companies were non-compliant with the statutory fund requirements and reported deficits. The Central Bank is working with these two life insurance companies to correct the deficiencies in their Statutory Funds. Non-life insurance companies In the non-life insurance segment, growth in gross premium income was driven mainly by property business in 2012, as motor business remained tepid.