Industry participants say the proposed framework, set to launch by 2028, could reduce costs, improve operational efficiency and support broader adoption of captives and insurance-linked securities.
Insurers face broader expectations on stress testing, collateral quality, recapture planning and reinsurer due diligence under the revised guidelines, which apply from July 1.
The agreement addresses potential conflict-of-interest concerns while Prudential pursues its acquisition of a controlling stake in Bharti Life Insurance.
Price negotiations remain a key hurdle as South Korea's largest financial groups line up for the sale of the mid-sized insurer, with Shinhan seen as the frontrunner.
Strong demand for wealth, retirement and legacy products, paired with changing capital regimes are pushing Asian life insurers toward equities and alternative assets as industry investments surge.
A prolonged low-rate environment is forcing Chinese insurers to rethink product design, with participating policies emerging as a core strategic and credit-supportive pillar.
