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.

The audacity to be a unicorn

Faulty gadgets top complaints to BOCRA

Civil Society fights 'flawed' constitutional amendment

Civil Society calls for Constitution review governing Act

IEC rejects 2,513 registrations

Motshegwa prevails against detractors

Serowe woman ingests acid, attempts suicide

Serowe man 'loses' P1m in trading

Inspect the voters' roll!