The insurer has voluntarily stopped writing new business since February, but the FSA is planning a formal order after employees improperly obtained JPY3.1bn (US$19.7m) from about 500 customers.
Edison Sam will spearhead CTF Life's digital, data and AI agenda as the insurer accelerates enterprise-wide transformation and growth initiatives across key markets.
Under the proposed rules, insurers and takaful operators would have to check customer understanding before underwriting and stop sales that cannot meet a customer's needs.
The regulator will also review funeral insurance in the first half of 2027 and report on life insurer service issues, while continuing to monitor cash settlements and motor premium disclosure.
The first product's participating fund will invest in private credit, infrastructure and real estate, as rivals seek to build multi-jurisdiction platforms for wealthy Asian families.
