The rating agency said recent insurance regulatory changes will influence solvency positions, distribution models and reinsurance dynamics, with China, South Korea and Australia setting the pace in As...
The order follows a similar demand against New India Assurance, signaling a broader clampdown on GST treatment of co-insurance and reinsurance premiums.
Premiums placed by intermediaries rose to A$21.5bn in the first half, led by a rise in unauthorised foreign insurers, though APRA-authorised carriers continue to hold the lion’s share of premiums.
The Insurance Commission has also activated dedicated assistance channels in Cebu and Manila, aiming to streamline access to insurance services for those affected.
