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Emerging risks | Growth Opportunities | APAC Insurance

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Thursday, November 5, 2026

Risk

sompo-holdings-chairman-and-group-ceo-set-to-resign-over-bigmotor-insurance-scandal
Sompo Holdings Chairman and Group CEO to resign over Bigmotor insurance fraud scandal - reports
January 23 2024
Kengo Sakurada to resign in wake of subsidiary Sompo Japan's involvement in Bigmotor insurance fraud case.
sompo-japan-to-name-koji-ishikawa-as-president-report
Sompo Japan to name Koji Ishikawa as President - report
January 22 2024
Ishikawa poised to succeed Giichi Shirakawa, who resigned in September amid questions over Sompo's handling of business partner Bigmotor Co.
fsa-to-issue-business-improvement-order-to-sompo-japan-over-bigmotor-fraud-reports
FSA to issue business improvement order to Sompo Japan - reports
January 16 2024
Watchdog to mandate Sompo improve operations after probe reveals internal process failures related to dealings with used car dealer Bigmotor Co.
apra-retires-outdated-guides-to-streamline-insurance-risk-framework
APRA retires outdated guides to streamline insurance risk framework
January 15 2024
Australian regulator retires Prudential Guides GPG 250 and LPG 250, streamlining insurance risk management under the current CPS 220 standard.
hong-kong-regulator-bans-former-technical-representative-for-insurance-certificate-fabrication
Hong Kong regulator bans former technical representative for insurance certificate fabrication
January 12 2024
The former technical representative of a broker has been banned 4.5 years after admitting he falsified an insurance certificate.
2024-regulatory-roadmap-hong-kong-and-indian-insurers-prepare-for-change
2024 Regulatory Roadmap: Hong Kong and Indian insurers prepare for change
January 11 2024
Major regulatory changes will be limited in mature Asia Pac insurance markets in 2024 but carriers need to prepare for rules around the use of AI in their businesses 
hong-kong-insurance-complaints-fall-10-in-first-nine-months-of-2023
Hong Kong insurance complaints fall 10% in first nine months of 2023
December 21 2023
Insurance Authority data shows a 10% decrease in overall complaints for the first nine months of 2023, though there was a slight increase in conduct-related cases.
japan-ftc-continues-price-fixing-investigation-of-four-major-insurers-with-on-site-inspections
Japan FTC conducts on-site inspections of major insurers in ongoing price-fixing probe
December 20 2023
Tokio Marine, Sompo, Mitsui Sumitomo, and Aioi Nissay Dowa confirm inspections and are cooperating with the Japan Fair Trade Commission
japans-bigmotor-stripped-of-insurance-agency-licence-over-insurance-fraud
Japan's Bigmotor stripped of insurance agency licence over insurance fraud
November 24 2023
Bigmotor loses licence after investigations by Japan's Financial Services Agency on the company for a wide-reaching insurance fraud scandal.
australian-securities-and-investments-commission-issues-lifetime-ban-on-former-insurance-broker
Australian Securities and Investments Commission issues lifetime ban on former insurance broker
November 24 2023
Renato De Maria, former insurance broker and director of AIBS, receives permanent ban from the financial services industry following allegations of misappropriating AU$35m (US$29.97m) of client funds.
ex-agents-banned-by-hong-kong-ia-over-false-academic-certificates
Ex-agents banned by Hong Kong IA over false academic certificates
November 22 2023
Two former insurance agents been banned by the Insurance Authority for three years after being found to have submitted false academic certificates to meet qualification requirements.
towers-refund-costs-for-discount-errors-soar-to-nz11-2m
Tower's refund bill for discount miscalculations rises to NZ$11.2m
November 15 2023
CEO apologies after expected remediation costs for multi-policy discounts errors increases from NZ$6.2m (US$3.7m) to NZ$11.2m (US$6.7m).
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