Middle East: Sustainable bond issuance slows despite continued bond market issuance

...regulations," said S&P Global analyst Ms Rawan Oueidat in the report....

China: Guangdong authorities probe illegal cross-border insurance sales

...The Guangdong Financial Regulatory Bureau has issued a circular stating that it was carrying out a probe on the illegal sales of insurance products from overseas and illegal cross-border insurance transactions in the province (excluding Shenzhen)....

Australia: Insurance consumer lobby airs concerns over gaps in Insurance Code Review on expert reports

...Regulations: Expert reports should correctly cite and apply relevant building codes, standards, and regulations in each case....

Widening protection gaps in Asia demand urgent action

...Speakers at the 2024 Global Asia Insurance Partnership (GAIP) Summit explored the current landscape of protection gaps, while discussing global efforts to address these challenges and evaluating the effectiveness of these initiatives....

Singapore: Govt halts proposed sale of local insurer to Allianz in current form

...The Singapore government has decided that it would not be in the public interest for the proposed S$2.2bn ($1.68bn) sale of a stake in Income Insurance to global insurer Allianz, in its current form, to proceed....

China: Authorities nab another New China Insurance ex-chairman for corruption

...The Shandong Provincial People's Procuratorate has ordered the arrest of Li Quan, former chairman of New China Insurance, for suspected embezzlement and bribe-taking. The insurer, listed in Hong Kong and Shanghai, is one of the biggest life insurance companies in China....

Bancassurance personnel share views on regulations on sales expenses

...Bancassurance sales personnel say that they encountered teething problems in the early stages of the implementation in August 2023 of rules on commission fees payable in bancassurance....

Pakistan: Regulator proposes hikes in required minimum paidup capital for insurers

...The Securities and Exchange Commission of Pakistan (SECP) yesterday proposed to increase the minimum paid-up capital requirement for insurance companies as part of its "Insured Pakistan" initiative....

India: Biggest insurer reportedly reduces sales commissions on higher surrender-value rules

...regulations, insurance companies must offer a higher surrender value for all endowment policies....

Indonesia: Regulator introduces sweeping changes to its supervisory system

...The Financial Services Authority (OJK) is transforming its supervisory work in the insurance, guarantee and pension fund sector, by implementing an early intervention system and other changes....

Asia Pacific: Organic growth of wealth in the region presents opportunities for insurers

...regulations and shortage of industry talent....

Global: Insurers and reinsurers of developing countries meet in Bangkok

...regulations; yet these challenges also present opportunities for innovation and growth. This conference will serve as a platform to explore these possibilities together, and we hope it will inspire i...

Egypt: AXA and Egypt Post agree to form microinsurance joint venture

...regulations enabling the implementation of the new law are awaited....

Taiwan: Regulator eases rules on purchase of long-term bonds of insurers

...regulations on financial holdings....

Thailand: Insurers and reinsurers of developing countries meet in Bangkok

...regulations; yet these challenges also present opportunities for innovation and growth. This conference will serve as a platform to explore these possibilities together, and we hope it will inspire i...

UAE: Govt expands VAT exemption on group health insurance wef 15 Nov

...regulations will allow businesses to recover the input VAT on health insurance provided to employees’ dependents,...

GAIF tackles legal issues concerning motor insurance

...Regulations Association (AIRA), which operates under the GAIF umbrella....

India: Regulatory moves to increase insurance penetration in rural districts bear fruit

...The push for insurance penetration at the gram-panchayat (village) level by the regulatory authorities is a great user-centric move, according to Mr Anup Rau, managing director and CEO, Future Generali India Insurance Company....

Thailand: Insurance regulator promotes open data policy

...Giving everyone the opportunity to access their own data openly, transparently, and securely by linking the data with the banking sector, which is the centre of financial services, will lead to the development of financial products and services that better meet consumer needs, according to the Office of Insurance Commission (OIC)....

Life insurance seen as offering main opportunity for growth of MGAs in China

...regulations in place in China governing MGAs, but the approach of regulatory authorities differs from province to province, with the metropolitan regions of Beijing, Shanghai, and Shenzhen all favour...

India: Insurance industry awaits liberalisation of rules for MGAs to play bigger role

...Regulations, 2021....

ITIC launches tailored Aviation Rule Book to support growing aviation portfolio

...regulations and approvals that underpin the sector....

Türkiye Rendezvous: Financial resilience as a priority for insurance authorities

...regulations,” Mr Mentes also said....

New Zealand: Parliamentary panel urges govt to explore climate adaptation financing instruments with insurers

Australia: Insurance brokers urged to enhance disclosure and remuneration practices

...The Insurance Brokers Code Compliance Committee (IBCCC) has called for significant improvements in brokers' disclosure and communication practices, following concerning findings in its latest data report....

India: Finance Minister urged to correlate insurance premiums with traffic violations

...A proposal has been sent to Finance Minister Nirmala Sitharaman to link insurance premiums of vehicles to the number of traffic violations recorded against the vehicles....

Australia: APRA releases superannuation product performance metrics

...The Australian Prudential Regulation Authority (APRA) has released a comprehensive package of product performance metrics and insights to increase transparency and sharpen superannuation trustees' focus on improving member outcomes....

Pakistan: Competition regulator proposes slew of measures to open up insurance business to private sector

...regulations have to be amended, ...

Algeria: Proposed new insurance law should address digital distribution and other issues

...Regulations need to be revised that govern technical provisions, technical commitments, and the solvency of insurance companies. Governance...

Turkiye: Mandatory supplementary pension scheme expected to be in place in 4Q2025 at the earliest

...Regulations will be effected to allow the withdrawal of retirement funds and exit the system only by those who meet the terms and conditions required for retirement....

Japan: GIAJ and insurers prioritise regulatory compliance to rebuild customer trust

...regulations’ and ‘customer-oriented business operations’ throughout the industry, as well as a fundamental review of old industry practices.”...

Japan: GIAJ working to build healthy and competitive insurance market

...regulations. Taking into account future revisions of supervisory guidelines and other developments, the GIAJ will carry out further reviews....

Egypt: FRA is working on issuing regulations to implement new insurance law

...The Financial Regulatory Authority (FRRA) is currently working on issuing all the necessary executive decisions and regulations to activate the Unified Insurance Law, in coordination with various parties in the insurance industry, according to the chairman of the regulatory agency, Mr Mohamed Farid....

Authorities crack down on rampant fraud in policy-led agricultural insurance

...regulations and improve the effectiveness of internal controls over policy-based agricultural insurance business....

5 top listed insurance groups receive boost to premiums in Aug from life insurance interest rate cuts

...regulations were issued by the National Financial Regulatory Administration (NFRA) to curb excesses in online P&C insurance business, such as misleading sales and vicious competition. On 9 August...

Taiwan: Authorities work on plans to increase domestic investments by life insurance funds

...regulations loosened, reported the Chinese-language business newspaper Commercial Times. The axes are:...

Asia Pacific: Only 1 in 5 organisations have truly strategic approach to sustainability

...regulations is not the key driver of sustainability: While the common perception is that compliance with regulations is a primary factor influencing organisations to adopt sustainability practices, t...

Africa: Several emerging trends generate insurance market opportunities

...regulations. These reforms aim to increase transparency, reinforce market stability, facilitate business,...

Bangladesh: Insurance market to see changes amid state reforms

...The new chairman of the Insurance Development and Regulatory Authority (IDRA) has said that changes will be made in the insurance industry as part of the ongoing reform of the state....

Tanzania: Insurance market shows promise with premiums growing fast

...regulations, and guidelines governing the insurance market....

Taiwan: Regulator vetoes CTBC's bid to merge with Shin Kong to form biggest financial group

...regulations upon completion of the relevant procedures. The merger is subject to the approval of the FSC and the consent of the Fair Trade Commissio...

Several listed life insurers report increased NBV in 1H2024

...regulations introduced last year that require commissions paid were not more than expenses reported. internal cost cutting, and efficiency improvement....

EU work group outlines hurdles faced by foreign insurers in building synergy

...Unclear regulations on regional HQs of foreign insurance companies limit their ability to provide services and perform equity management functions for entities within their group, thereby disrupting daily operations, says the Insurance Working Group (IWG) of the EU Chamber of Commerce in China....

EU trade chamber calls for consistent treatment in supervisory ratings of insurers

...regulations and supervisory measures that reflect this....

Regulator acts to boost sustainability of insurers

...regulations will relieve insurers’ burden from a decline in investment yield. Life insurers are enhancing the professional skills of their agents and trying to leverage the banca...

EU insurance working group says outlook for 2024 is uncertain

...regulations relevant to the insurance industry in 2023. New regulations on motor insurance were published during the first half of the year and were followed by the “Notice on Strengthening the...

Indonesia: Changes ahead for health (re)insurance market

...regulations that promote fair competition and ensure that insurance products are priced and structured in a way that supports long-term industry stability, to prevent price wars and maintain market h...

Morocco: Competition Council highlights gaps in insurance sector

...regulations that limit competition, especially for new entrants who cannot offer composite insurance services...

Bangladesh: Insurance regulatory authority has a new chairman

...Bangladesh's interim government has appointed former senior secretary Mr M Aslam Alam as the new chairman of the Insurance Development and Regulatory Authority (IDRA), the finance ministry announced in a circular....

Hong Kong: Insurance Authority chairman laments inward investment efforts frustrated by misconceptions

...The Insurance Authority (IA) is committed to reviewing the different parameters embedded in the risk-based capital (RBC) regime, with an emphasis on creating sufficient incentives for insurers and broker companies to place larger volumes of business in Hong Kong, according to the agency's chairman Mr Stephen Yiu....