The IRDAI has released the new guidelines to promote transparency and accountability in the remuneration of directors and key managerial persons (KMPs).
The Australia Federal Court court ruling is the largest penalty ever imposed on an insurer for violations of financial services consumer protection laws.
AXA has, announced new decarbonization targets and released its 2023 Climate & Biodiversity report, which sets ambitious carbon reduction targets by 2030.
The company said that it aims to achieve...
The Australian Government introduced the AU$10bn (US$6.7bn) cyclone and flood damage reinsurance pool in July 2022 to help insurance companies manage NatCat risks.
The National Financial Regulatory Administration aims to complete central level reforms and identify risks at financial institutions, with local level reforms to follow in 2024.
Insurers are taking proactive steps to address reinsurance costs and the impact of NatCats, while post-covid conditions should positively impact claims and underwriting profitability.
Existing backers provided additional capital, however new investors were not named with OneDegree stating strategic partnerships would be announced in due course.
Rowell reflected fondly on her 21-year tenure at the regulator and highlighted key challenges the industry is currently facing which include cyber and the importance of diversity, equity and inclusion...
