APRA and ASIC publish information package to oversee implementation of FAR, a new regime which aims to improve transparency and accountability in the insurance, banking, and superannuation sectors.
Generali is consolidating its insurance business units under one division, with experienced executive Giulio Terzariol joining from Allianz SE to lead the new division.
Tokio Marine, Sompo Japan, Mitsui Sumitomo, and Aioi Nissay Dowa have reportedly found evidence of suspected fraud in 17,000 of the 53,000 claims examined so far.
The National Financial Regulatory Administration has introduced a comprehensive, six chapter, fifty article framework, which aims to enhance consumer protection.
The four major Japanese insurers will report their findings to the FSA on Friday, with an anonymous source claiming 100 corporate clients have been affected by improper business practices.
At the International Union of Marine Insurance (IUMI) conference in Edinburgh, experts discussed how digitilisation of trade documents will change the insurance industry.
Nearly 70% of Asian insurers plan to adapt their strategic asset allocation due to changes in risk-based capital regimes, according to a BlackRock report.
