News

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New motor SRCC directive likely to deflate profitability of Sri Lanka's non-life segment: Fitch

February 1 2024

Directive requires Sri Lankan non-life insurers to transfer 100% of SRCC-related motor premiums to state-run NITF.

ICA calls for AU$500m annual fund for flood risk mitigation

January 31 2024

ICA's Pre-Budget submission call for AU$500m (US$329m) in flood-mitigation funding and extension of the Disaster Ready Fund, among other initiatives.

Cyber, op resilience, and insurance affordability among APRA priorities for next six months

January 31 2024

Australian regulator provides transparency on interim supervision and policy priorities before it launches its 24-25 corporate plan in August.

APRA increases Auto & General capital requirement by AU$50m

January 30 2024

Following review, regulator mandates risk remediation program and increases capital requirement by AU$50m (US$33m).

Chinas regulator looking for deeper cooperation between Mainland HK and Macau

China's regulator looking to green and cat bonds to deepen cooperation between Mainland and Hong Kong

January 26 2024

The NFRA is aiming to boost cross-border initiatives between the Mainland, Hong Kong and Macau.

Aerial and satellite images employed to fast-track Noto Peninsula quake claims

January 26 2024

Cross-industry 'joint survey' teams will use imagery to identify 'total' and 'partial' loss areas to enable faster claims processing.

Cyclone Kirrily makes landfall near Townsville as Cat 3 storm

January 25 2024

Townsville bears brunt of Category 3 storm, with severe winds and heavy rains causing widespread disruptions and raising fears for farming sectors.

Indian regulator withdraws arbitration clause from tariff-based insurance products

January 25 2024

The IRDAI said Arbitration clause for all tariff-based contracts issued after 27 October 2023 were de-notified, changing a standard that has been in place since 2006.

Pacific Life Re restructures from regional to product-focused model

January 25 2024

Andrew Gill takes charge of the global 'protection' team while Phill Beach will oversee the 'savings & retirement' division.

FWD Insurance Berhad ties up bancassurance deal with Bank Simpanan Nasional

January 25 2024

BSN's nine million customers gain access to FWD's life products under the exclusive distribution deal, which began in January.

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