News

LIC says no formal plans in place for health insurer acquisition

June 14 2024

In a regulatory filing, insurance giant added it will continue to explore strategic growth opportunities.

Income Insurance and Allianz in talks over potential deal

June 14 2024

Businesses confirm talks, but specifics over potential partnership or stake acquisition are not yet known.

malaysian-re-and-pacific-life-re-extend-mou-on-sustainable-retakaful-solutions

Malaysian Re and Pacific Life Re extend retakaful solutions MoU

June 14 2024

Businesses renew their 2019 MOU to continue to provide retakaful solutions to takaful operators.

victorian-builders-face-65-premium-hike-for-new-building-insurance-from-august

Australia: Victorian builders face 53% premium hike

June 14 2024

Victorian Managed Insurance Authority said it will raise premiums due to record claims, driven by builder insolvencies, high inflation, and skilled worker shortages.

irdai-mandates-policy-loan-facility-in-life-insurance-savings-products-as-part-of-new-reforms

IRDAI mandates policy loans for life insurance savings products as part of new segment reforms

June 13 2024

New regulations include mandatory policy loans, extended free look period, and partial withdrawals for pension products.

GIAJ: Noto Peninsula Earthquake claims rise to ¥90.9bn (US$578.02m)

June 13 2024

Approx. 145k of 150k residential claims have been investigated, with 69% of claims paid.

iSHANG and PSC Insurance partner to develop Web3 "Proof of coverage" insurance product in Hong Kong

June 13 2024

The solution will use smart contracts in a bid to enhance transparency, improve security, and streamline the claims process.

APRA finalises guidance for upcoming op risk standard, CPS 230

June 13 2024

Regulator releases final cross-industry guidance to aid in the implementation of CPS 230, which will take effect from 1 July 2025.

south-korean-motor-insurers-pay-claims-from-trash-balloons-despite-war-exclusions-report

South Korean insurers pay 'trash balloon' claims despite war exclusions - report

June 13 2024

Insurers are opting to cover motor damage, citing unusual circumstances and classifying North Korea's trash-filled balloons as "falling objects".

MAS and BIS develop blueprint for climate risk platform

June 13 2024

Project Viridis aims to merge regulatory and climate data from corporate disclosures to help financial authorities manage climate risks.

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