Fri, 17 Nov 2017 10:49:09 +0000 By MAILESI BANDA FINANCE minister, Felix Mutati has dissolved the board of directors for the Pensions and Insurance Authority, (PIA), and appointed a new board headed by Petronella Mwangala as chairperson. The minister said the board was appointed to ensure that there is strict enforcement of regulation in the insurance sector and set the Insurance Industry on a path of sustainable reforms. “Being part of the overall financial system of the country and one of the three regulators of the sector, it is inevitable for the Pensions & Insurance Authority to step-up its leadership, operational efficiency, and regulatory influence on the industry that it regulates,” he said. Mr. Mutati said Government will carry out legal reforms in the insurance industry by repealing and replacing the Insurance Act in the first quarter of 2018 to strengthen sector governance and to facilitate the creation of an environment for improved financial soundness […]
