The Financial Services Authority (OJK) has said that there are now seven insurance companies that are under special supervision. This number has fallen from 11 at the start of February 2023.
Insurance companies in Turkiye will not face huge difficulties in adopting inflation accounting, according to EY Turkiye tax partner and leader of financial services Levent Atakan.
The Australian Prudential Regulation Authority (APRA) says that it will shortly commence a voluntary survey of its regulated entities, including insurers and superannuation funds, asking them to self-assess the maturity of their current practices against its guidance on managing the financial risks of climate change.
The Bangladeshi Cabinet has approved a draft law that would make insurance compulsory for all registered vehicle owners.
East African Insurance supervisors unveiled a strategic plan on 4 April aimed at increasing insurance penetration in the region through a unified cross-border framework.
The Financial Services Authority (OJK) has said that it is planning to regulate the mandatory use of takaful by shariah capital players.
The insurance market in Turkiye generated a total premium income of TRY483bn ($15.1bn) in 2023, an increase of 105% compared to 2022, Mr Ugur Gulen, president of the Insurance Association of Turkiye (TSB), indicated.
With the Prudential Standard CPS 230 coming into effect on 1 July 2025, Xceedance business leader - key accounts in Australia Prateek Vijayvergia said that Australian insurers and underwriting agencies should start planning for the "systemic change needed to ensure compliance".
As many as 32 takaful windows or Shariah business units (UUS) of insurance and reinsurance companies in Indonesia will be spun off from their conventional insurance parents by 31 December 2026, according to the Financial Services Authority (OJK).
The government is finalising new regulations to set up a state-run motor third-party liability vehicle insurance scheme to underwrite compulsory vehicle liability insurance.