Regulatory

Taiwan's FSC approves Taishin and Shin Kong merger

April 3 2025

Merger will give Taishin access to Shin Kong's insurance operations and is set to boost Shin Kong Life's capital adequacy.

Insurance losses from ex-TC Alfred and North Queensland floods surpass A$1.2bn

April 2 2025

The ICA reports over 104k claims lodged from the two nat cats so far, with around 95k of those from Alfred.

spike-in-significant-breaches-highlights-systemic-weaknesses-in-australias-life-insurance-sector

Australian life insurers see 60% rise in significant breaches: LCCC

April 1 2025

Annual notice failures and privacy breaches drove the highest customer impact, with some issues dating back to 2017, according to code compliance committee.

Thai insurers reassessing earthquake coverage after Bangkok building collapse: Report

April 1 2025

Thai General Insurance Association says insurers are reviewing nat cat coverage and may separate earthquake and flood cover from fire policies.

korean-guarantee-insurance-payouts-rise-as-economy-falters-report

Korea’s revised capital rules to ease burden, improve capital quality says Fitch

April 1 2025

Immediate effects may be limited, but insurers are expected to adjust strategies over time to sustain earnings and manage capital costs, says Fitch.

australian-deferred-pay-rules-increase-dampo-exposure-for-insurers

Australian deferred pay rules increase D&O exposure for insurers

April 1 2025

The Financial Accountability Regime (FAR), introduced in March, potentially brings a lot of personal exposure for directors, as well as for entities.

sompo-to-become-first-japanese-pampc-insurer-to-adopt-ifrs-accounting-standards

Sompo to become first Japanese P&C insurer to adopt IFRS accounting standards

April 1 2025

The group will adopt international standards from FYE 2026, with a transitional period of reporting under both IFRS and Japan GAAP.

irdai-moves-to-overhaul-fraud-oversight-following-insurer-data-breaches

IRDAI mandates 6-hour cyber incident reporting for insurers and intermediaries

April 1 2025

The directive reduces the previous 24-hour reporting window.

Hong Kong's insurance complaints stable in 2024, but claims disputes surge

March 31 2025

Data from the IA shows a 51% rise in claims-related complaints, but grievances related to services dropped drastically.

committee-flags-shortcomings-in-australias-cyclone-reinsurance-pool-calls-for-structural-reforms

Joint Select Committee urges changes to Cyclone Reinsurance Pool

March 28 2025

Recommendations include extension of 48-hour rule, enhanced resilience measures, and potential inclusion of marine insurance.

hong-kongs-insurance-authority-launches-campaign-to-educate-students-on-risk-management

Hong Kong Insurance Authority launches youth campaign to promote risk management

March 28 2025

The campaign helped educate tertiary students on insurance fundamentals and potential career paths.

ifsca-establishes-standing-committee-to-bolster-gift-ifscs-insurance-ambitions

IFSCA forms standing committee to boost insurance presence in India's GIFT City

March 28 2025

Panel includes former heads of major Indian insurers and senior execs from global reinsurance and consulting firms.

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