The measures provide 90-day grace periods for premiums, coverage extensions, and loan repayments, with report submissions given a 30-day extension without fines or penalties.
Reinsurer supports FSA’s proposed AIR rules, which would require Japanese life insurers to strengthen stress testing, oversight, and collateral management.
The parties have six months to conclude negotiations and market analysts believe a deal appears more credible than RHB Bank’s earlier, unsuccessful attempt in 2019.
Following feedback from 42 respondents, the Insurance Authority has finalised amendments to the RBC regime, with additional guidance to be issued ahead of implementation.
Under the proposed model, channels that require greater involvement in customer onboarding, advice, and ongoing servicing are expected to attract relatively higher payouts.
Brokers report growing interest in cyber insurance following the introduction of the DPDP Act, as buyers reassess limits, coverage and compliance exposure.
Regulatory reforms, tax changes and digital distribution are expected to support sustained growth in India’s life insurance market, according to GlobalData.
