Risk

Thailand's Syn Mun Kong Insurance loses non-life license

July 15 2024

SMK had become insolvent following substantial losses due to COVID-19 policies.

South Korea's insurers see capital adequacy ratios fall 8.6pp in Q1 2024

July 13 2024

Market and op risks have seen required capital to rise in Q1.

Tokio Marine reportedly suffers data breach

July 12 2024

Attack on an outsourced firm's server may have compromised the personal data of 63,200 policyholders.

price-fixing-controversies-fail-to-hinder-profit-surge-for-japans-non-life-insurers

Japan's big 3 non-life insurers see FY23 profits surge despite year of probes and controversies

July 11 2024

Reduced cat losses, overseas performance contribute to profit results, but GIA Chairman says changes are needed on industry fundamentals.

Nine Asia Pac insurers to implement ICS framework by end of 2024

July 11 2024

Insurers including QBE, Tokio Marine, and Prudential will be subject to the new IAIS standard which will be applied in a two stage process starting in 2026.

Japan FTC to issue cease-and-desists to non-life insurers for premium collusion - report

July 5 2024

Fair Trade Commission found four major insurers engaged in unfair trade practices, but has decided not to impose fines.

Risk-based Capital regime commences in Hong Kong

July 1 2024

HK's RBC regime begins after nearly a decade of extensive consultations and development.

Hong Kong Insurance Authority fines broker and technical representative for policy mishandling

June 24 2024

HK$44,270 fine imposed for failure to manage a client's motor policy with "due care and diligence."

Japan's general insurance industry must work "tirelessly" to rebuild trust: GIAJ Chairman

June 24 2024

Keisuke Niiro stresses importance of restoring industry trust following price-fixing and fraud claims controversies.

medibank-being-sued-by-privacy-watchdog-over-2022-data-breach

Regulator blames Medibank cyberattack on lack of multi-factor authentication

June 20 2024

In a court filing, the OAIC alleges that the health insurer's lack of MFA enabled hacker to exfiltrate 520 gigabytes of data.

sompo-japan-under-fire-again-for-possible-antimonopoly-law-breach

Sompo Japan faces further heat after investigation reportedly uncovers prearranged premiums

June 17 2024

An external investigation says it found Sompo Japan prearranged premiums with other non-life insurers, affecting 385 corporate clients.

APRA finalises guidance for upcoming op risk standard, CPS 230

June 13 2024

Regulator releases final cross-industry guidance to aid in the implementation of CPS 230, which will take effect from 1 July 2025.

Previous 1 … 16 17 18 19 20 … 24 Next

The Inaugural Recognising excellence in Asia's insurance industry Find out more → Entries close
28 August