Regulatory

APRA retires outdated guides to streamline insurance risk framework

January 15 2024

Australian regulator retires Prudential Guides GPG 250 and LPG 250, streamlining insurance risk management under the current CPS 220 standard.

hong-kong-ia-opens-public-consultation-on-four-draft-rules-related-to-upcoming-rbc-regime

Hong Kong IA opens public consultation on draft rules related to upcoming RBC regime

January 11 2024

The IA seeks industry feedback on draft rules affecting general, marine, captives, and Lloyd's market insurers.

2024 Regulatory Roadmap: Hong Kong and Indian insurers prepare for change

January 11 2024

Major regulatory changes will be limited in mature Asia Pac insurance markets in 2024 but carriers need to prepare for rules around the use of AI in their businesses

chinas-nafr-orders-insurers-to-fortify-cyber-defenses-after-icbc-ransomware-attack-report

China’s NFRA orders insurers to fortify cyber defences after ICBC ransomware attack - report

January 10 2024

China's financial institutions have been directed to conduct comprehensive security overhauls to prevent future breaches.

2024 Outlook

January 10 2024

Cyber risks and AI will be in focus for (re)insurers in 2024 as the industry looks forward to 12 months of interest rate and regulatory stability.

GHG emissions disclosures of 'limited use' in near term says Moody's

January 9 2024

Regional and global GHG emissions disclosure standards are currently not harmonised making comparisons difficult.

India's Narayana Health granted country's first health insurance licence in five years

January 2 2024

Licence approval paves way for one of India's largest health providers to provide integrated healthcare and insurance services.

NZ High Court orders penalties on directors of defunct insurer CBL

December 22 2023

The High Court of New Zealand has imposed penalties totalling NZ$7.88m (US$3.63m), on CBL Corporation and four former directors for breaches of continuous disclosure obligations.

Hong Kong insurance complaints fall 10% in first nine months of 2023

December 21 2023

Insurance Authority data shows a 10% decrease in overall complaints for the first nine months of 2023, though there was a slight increase in conduct-related cases.