The Insurance Commission’s new guidelines require insurers to undergo regular risk assessments at least every two years, to strengthen anti-money laundering and counter-terrorism efforts.
Australia’s prudential supervisor is set to reduce its frontline divisions from three to two, aiming to streamline the monitoring in the insurance sector.
In its 2024-2025 corporate plan, the regulator emphasises the need for collaboration to improve affordability and strengthen the insurance industry’s resilience.
Indonesia’s Ministry of State-Owned Enterprises will transfer policies worth IDR38 trillion (US$2.4 billion) in the “biggest restructuring ever in the history of Indonesia's insurance industry.”
Conduct issues still lead to complaints, but complaints are down YoY, with a comparison of data from the first half of 2024 revealing a further downward trend.
