Regulatory

major-japanese-insurers-under-further-scrutiny-for-price-fixing-report

Major Japanese insurers face further scrutiny over price fixing: report

August 2 2023

In June, the FSA instructed major Japanese insurers to investigate "cartel" behaviour over contracts supplied to railway operator Tokyu; the latest report suggests price fixing could be a more widespread...

Korea limits insurers’ ability to restate accounts under IFRS 17

August 1 2023

The FSS has restricted insurers' ability to restate profits and directed that restatements should only be used in exceptional circumstances.

Australian regulator demands financial institutions, including insurers, disclose compensation structures

August 1 2023

APRA made the rule change based on findings from Australia's Financial Services Royal Commission.

japanese-motor-insurers-in-the-spotlight-as-bigmotor-fraud-scandal-further-scrutinised

Major Japanese insurers in the spotlight as Bigmotor fraud scandal scruitinsed further

July 27 2023

Bigmotor submitted thousands of false insurance claims; enquiries are being made whether there’s more insurers should have done.

Going digital: Singapore regulator empowers policy owners with online beneficiary nominations

July 27 2023

The Monetary Authority of Singapore (MAS) updated regulations to allow insurance policy owners to nominate beneficiaries from January 2nd 2024.

Evan Greenberg encourages deeper regulatory cohesion to boost growth of GBA insurance sector: report

July 24 2023

Chubb's CEO is optimistic about the potential of the Greater Bay Area, but revealed his take on what can be done to accelerate its development.

Prudential unveils impact of IFRS 17 on financial performance

July 20 2023

Group CFO Ben Bulmer summarised the impact has been in line with the group's preliminary guidance.

former-prudential-agent-sanctioned-by-singapore-regulator

Former Prudential agent banned by Singapore regulator

July 20 2023

The MAS banned Huang Mengting for five years after she was convicting in court for submitting 11 false invoices to assist her clients in accident injury claims.

Australian regulators kick off discussions on new Financial Accountability Regime (FAR)

July 20 2023

The new regime replaces the 2018 Banking Executive Accountability Regime (BEAR) and will expands its reach to include insurance companies and supers.

ping-an-release-2022-results-under-ifrs-17-confirm-new-accounting-standard-wont-impact-strategy

Ping An release 2022 results under IFRS 17, stating new accounting standard will not affect their strategy

July 19 2023

Revenue down, net profit up considerably, but effects on total assets and liabilities were estimated at 1%.

The Insurance Council of Australia backs inquiry into 2022 floods

July 19 2023

The 2022 floods caused a record AU$7.17bn ($4.8bn) of insured losses and the enquiry aims to improve the industry's response to extreme NatCat events.

South Korean insurers to benefit from regulatory changes on foreign investments: Report

July 19 2023

The FSC plans to ease restrictions on overseas subsidiary investments and capital support, to stimulate global expansion from domestic financial companies.

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25 September