Incomes under pressure, Insurance likely to take squeeze

source: The Botswana Gazette
Written by NCHIDZI SMARTS
Wednesday, 17 March 2010 15:00

The outgoing Botswana Life Insurance Limited (BLIL) chief executive officer (CEO) has indicated that the insurance business is likely to take a dive in 2010.

Speaking at the BLIL head office in Gaborone, Regina Sikalese-Vaka said uncertainty in the financial markets is expected to continue to affect the business, and it will likely feel pressure. This will also be compounded by the impending increase of value added tax (VAT) by two percent next month.

Last year, BLIL indicated that its market dominance on group life had grown up to 85 percent from 45 percent in 2006. But because of looming unemployment and retrenchments, due to the economic situation, the company will most likely experience arrears and [continue reading]

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