Regulatory

mas-seeks-feedback-on-proposed-enhancements-to-policy-owners-protection-scheme

MAS seeks feedback on potential changes to Policy Owners' Protection scheme

December 8 2023

Regulator calls for public consultation on enhancements to the Scheme, which aim to broaden scope and streamline processes,

PIAM backs government initiative poised to curb surge in motor claims costs

December 7 2023

Malaysian insurance trade body endorses development of 'JSM MS', which could ease pressure of high inflation and soaring motor parts costs for insurers.

australian-government-overhaul-will-allow-insurers-to-provide-more-personalised-advice

Regulatory reform will allow Australian insurers to provide more personalised advice

December 7 2023

Financial advice overhaul will provide life and general insurers the opportunity to employ new class of "qualified adviser".

insurers-in-hong-kong-and-singapore-anticipate-increased-industry-ma-activity

Industry consolidation anticipated to rise in Hong Kong and Singapore for 2024

December 7 2023

Clearwater Analytics survey, conducted with insurers and insurance asset managers, provides insight on M&A, regulatory, investment, and technology sentiment — with 65% expecting increased industry...

Hong Kong Insurance Authority seeks feedback on draft rules for Risk-Based Capital regime

December 6 2023

Regulatory seeking feedback on 'valuation and capital' and 'Submission of statements, Reports and Information' rules.

AM Best upgrades India's Non-Life Insurance Outlook to Stable

December 4 2023

Booming economy, rate increases, and regulatory advancements lead to upgrade, despite ongoing concerns around underwriting margins.

australian-federal-court-rules-racq-to-pay-au10m-penalty-for-discount-misrepresentation

Australian Federal Court fines RACQ AU$10m over discount misrepresentations

November 30 2023

RACQ fined AU$10m (US$6.64m) after court found it had mislead 458,000 policyholders on discount entitlements, withholding approximately AU$86.5m.

chinas-non-life-market-sees-premium-growth-offset-by-net-profit-decline

China's non-life market seeing premium growth, offset by net profit decline

November 29 2023

Growth in health, agriculture, and resurgence in motor underpin AM Best's 'stable' outlook for China's non-life sector, but market faces drop in underwriting profit and slowing economy.

mapfre-ceo-calls-for-ethical-approach-to-ai

MAPFRE CEO on AI: "We must legislate on ethical risk"

November 29 2023

Addressing global insurance leaders at the Geneva Association Summit 50, Antonio Huertas stressed the importance of embracing AI responsibly, improving cyber resilience, and an insurance-led approach to...

lack-of-government-targets-main-barrier-to-net-zero-says-ica

Main barrier to net zero is lack of government targets says ICA

November 29 2023

Insurance Council of Australia survey reveals 85% of industry members are aiming for net zero by 2050, but are confronted with diverse challenges.

Climate task force disbanded as IFRS sustainability standards start date looms

November 28 2023

TCFD completes its work ahead of the January 2024 introduction of the first round of IFRS sustainability standards

vietnams-insurance-business-law-spurs-enhanced-risk-management-and-foreign-investment

Vietnam's new insurance law spurs enhanced risk management and foreign investment

November 28 2023

AM Best maintains stable outlook for Vietnam's non-life market, anticipating long-term benefits from regulatory changes made in early 2023.

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