Risk

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.

Two Philippine non-life insurers placed under conservatorship - report

June 7 2024

Insurance Commission reportedly take control of Premier Life and Trisco due to legal non-compliance.

Rapid growth in MGA premiums warrant enhanced oversight: AM Best

June 4 2024

AM Best calls for heightened oversight amid rapid growth of MGAs and increased private equity involvement.

Barbara Williams appointed Regional Managing Director Finance at Allianz Commercial Asia

May 31 2024

Williams, currently Director of Finance for Allianz Commercial Canada Branch, will move to Singapore for the new role.

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25 September