Vaka exits Bona Life as new crisis brews

Friday, January 17, 2020

Bona Life CEO, Regina Vaka last week dramatically quit the life insurer, as a shareholder stalemate over putting more funds into the business deepened, BusinessWeek has established.

The Non-Bank Financial Institutions Regulatory Authority (NBFIRA) had given Bona Life until August 31 last year to comply with its prudential rule on the Prescribed Capital Target (PCT).

The PCT states the minimum amount of assets that an insurer should hold in excess of its liabilities and for Bona Life, the regulator wanted assets one and a half times over its liabilities, as a way of protecting pensioners from adverse events.

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Vaka exits Bona Life as new crisis brews

Bona Life CEO, Regina Vaka last week dramatically quit the life insurer, as a shareholder stalemate over putting more funds into the business deepened, BusinessWeek has established.

42 out of 45 bodies of Limpopo bus crash victims identified

Selefu

Selefu

Civil Society threatens court action over constitution amendment

Fans urged to fill up stadium

Coaches take jabs ahead of derby

A city divided!

Civil Society threatens Masisi with legal action

Routine child vaccination imperative