Op Risk – (Re)in Asia

Op Risk

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ASIC takes RACQ to court over 570,000 misleading insurance renewal notices

September 23 2025

Australia's corporate regulator alleges the Queensland insurer misled customers about premium increases for over five years.

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Tokio Marine & Nichido Life ends 'excessive favour' practices for agents after FSA order

September 9 2025

The Japanese insurer has told the Financial Services Agency that it has ended practices that risked distorting sales, including recruitment support for agents.

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Major Japanese life insurers to end secondments following data leak scandals: Report

August 27 2025

Nippon Life, Meiji Yasuda, Sumitomo Life and Dai-ichi Life will end the practice following data leak scandals involving seconded staff.

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Yiyi Huang takes the helm as Manulife Vietnam's Chief Risk Officer

August 22 2025

Prior to her move, Huang was based in Hong Kong as Manulife's AVP for the Asia In-Force Management team.

Mizuho Bank plans to cease hiring seconded insurance staff after data breaches

August 19 2025

The move follows regulatory scrutiny after millions of customer records were leaked from major Japanese insurers.

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Vesttoo creditors sue Aon, China Construction Bank

August 15 2025

The lawsuit claims Aon and CCB enabled the creation of fake LOCs that triggered Vesttoo’s bankruptcy and widespread insurance sector losses.

Japan's FSA issues biz improvement order to FP Partner

August 8 2025

The regulator has also requested reports from eight life insurers suspected of providing favours to FP Partner.

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APRA hits KeyInvest with capital penalty over risk management failures

August 6 2025

The life insurer must also implement board renewal and remediation plans after independent review found serious oversight gaps.

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IRDAI fines Star Health nearly US$400k over data breach

July 29 2025

The IRDAI tightened cybersecurity protocols for insurers and intermediaries earlier in April.

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Incoming GIAJ chairman vows continuity and escalation of misconduct response

July 7 2025

The GIAJ’s top priority under its 10th Medium-Term Master Plan will be “efforts to restore trust from customers and society.”

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