Some of the major players in the local insurance sector have hailed measures in Budget 2026, noting that these initiatives help make home ownership much more affordable.
In Budget 2026, the government said it wants to raise the low-income mortgage ceiling from $20 million to $30 million, and that ceiling will also be extended to approved insurance companies.
The Insurance Association of Guyana, in a statement, noted that this measure will allow insurance companies to offer housing loans of up to $30 million under arrangements similar to commercial banks. In turn, it was explained that affordable housing will be realised.
Assuria General & Life Insurance Companies and Demerara Mutual Life Assurance Society Limited were among the companies hailing the initiative. These companies are also among those that will be able to offer housing loans up to $30 million.
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