The Insurance Commission’s new guidelines require insurers to undergo regular risk assessments at least every two years, to strengthen anti-money laundering and counter-terrorism efforts.
AM Best affirms ratings while upgrading outlook, noting parent company's improved access to funding and bank support to mitigate liquidity and refinancing risks.
Australia’s prudential supervisor is set to reduce its frontline divisions from three to two, aiming to streamline the monitoring in the insurance sector.
