Asia Pacific Insurance Regulation – (Re)in Asia

Features and key stories

A uniformed inspector examines a treaty notice beside a high-speed train marked AIR.

Nighttime Tokyo cityscape with illuminated Japanese signs, high-rises and curving multilane traffic.

Beijing skyline with the CCTV headquarters and dense residential buildings in the foreground.

Miniature businesspeople stand and meet among coins beneath wooden blocks spelling “AML.

IRDAI proposes new commission caps, lower expense limits as distribution costs outpace premium growth

ACCC blocks IAG's RAC Insurance acquisition for second time

India GI premium growth accelerates to 9% in FY 2025-26

Hong Kong targets captives, ILS and specialty insurance growth under first five-year plan

City skyline with skyscrapers and a bridge over a highway.

Steadfast inks A$7.7bn takeover deal with Amwins-Dragoneer-KKR consortium

MAS sign on a tan granite building with palm tree reflections and flagpoles.

Green double‑decker tram with American Express branding on a busy Chinatown street, surrounded by red storefront signs and a black car ahead.

Illustration of a mountain with a flag for 2026 and a path leading to a summit with a flag for 2028.

Aerial view of a modern city with a twin-towered building by the water and a circular stadium in the foreground, under a clear blue sky.

Aerial view of Hong Kong's skyline with tall glass skyscrapers beside Victoria Harbour and hills in the distance.

Sunset view of Sydney Harbour: the Opera House with the Harbour Bridge in the background over calm water, framed by green foliage on the sides.

City street at dusk with light trails from moving cars and a lit Tokyo Tower in the distance.

chinas-insurance-sector-posts-6-2-premium-growth-in-q1-2026

Asian corporates warm to captives, but local expertise lags

Panellists at PARIMA’s Singapore conference said captives are drawing more interest as fewer risks suit standard cover, but setting one up is hard without the actuaries, claims experts and insurers to...

Japan AIR market braces for stricter regime, not slower growth

Industry experts expect future asset-intensive reinsurance (AIR) growth to hinge on access to third-party capacity, suitable matching assets and demonstrable risk transfer.

Pacific Life Re closes second Japan structured reinsurance deal of 2026

The transaction helps an unnamed major life insurer optimise its economic capital position under Japan’s new Economic Solvency Ratio (ESR) framework.

China issues new product development rules for P&C insurers

From 1 November, the revised rules require insurers to set up product committees led by their principal executive, conduct regular product reviews and strengthen accountability for product failures.

Hong Kong brokers face growing pressure over AML due diligence

IA’s actions point to greater scrutiny when onboarding customers.

IRDAI proposes commission caps and lower expense limits, rattling insurance stocks

IRDAI found commissions paid to sampled general insurance brokers rose 173% between FY2023 and FY2025, while premiums grew 37%.

Second ACCC rejection sends IAG's RAC Insurance bid to public benefit test

Regulator found rival insurers would be unlikely to offset competition lost, but insurer says it will now seek approval on public benefit grounds.

India GI premium growth accelerates to 9% in FY2025-26

GI Council data shows premium growth accelerated from 6.2% a year earlier, though the combined ratio climbed to 117.83%.

Hong Kong targets captives, ILS and specialty insurance growth under first five-year plan

From expanding Hong Kong's influence across the global maritime value chain to developing specialty insurance products for mainland companies going global, the plan outlines an ambitious growth agenda...

China proposes direct supervision of insurers' shareholders, 1bn yuan capital floor for new entrants

First overhaul of the Insurance Law in more than a decade would also broaden insurers' permitted investments and lift fines to as much as 10 times illegal gains.

Steadfast inks A$7.7bn takeover deal with Amwins-Dragoneer-KKR consortium

The parties aim to complete the A$7.7bn transaction by December, subject to shareholder, court and regulatory approvals.

MAS eyes AIR guidance, further RBC 2 changes by year-end

RBC 2 adjustments, reinsurance guidance, and stress-testing developments form part of a broader regulatory response to evolving risks.

Hong Kong insurers look for clearer risk rules, data sharing as ride-hailing regime nears

Licences are due to be issued from November, and HKFI says access to operational data is critical for insurers to assess the new risk and develop appropriate pricing models.

Indonesian insurers on track for end-2026 capital rules, but 2028 poses bigger test

More than 80% of insurers have already met OJK's 2026 requirements, but experts say capital alone will not fix weak fundamentals as tougher 2028 rules loom.

China publishes new measures to accelerate build-out of Shanghai reinsurance centre

The eight-point plan seeks to lift trading volumes, strengthen reinsurers' capital, and bring more international capacity into China's market.

Hong Kong captive insurer count rises to nine with two new approvals

New captives from the hospitality and logistics sectors broaden participation by both Hong Kong and Mainland Chinese corporates.

MAS targets captive and ILS market growth with new corporate structure

Industry participants say the proposed framework, set to launch by 2028, could reduce costs, improve operational efficiency and support broader adoption of captives and insurance-linked securities.

APRA finalises reinsurance reforms easing access to alternative risk-transfer solutions

The reforms, set to take effect from 1 January 2027, expand the role of Appointed Actuaries and streamline regulatory approvals.

Japan's FSA finalises tighter rules on asset-intensive reinsurance

Insurers face broader expectations on stress testing, collateral quality, recapture planning and reinsurer due diligence under the revised guidelines, which apply from July 1.

Participating policies gain favour among Chinese P&C insurers as low-yield pressures mount

Insurers across China, Taiwan and South Korea are bolstering capital buffers and refining investment strategies as low rates and volatility strain traditional earnings models.