The House of Representatives has passed the Nigerian Insurance Industry Reform Act Bill, 2025, following in the footsteps of the Senate that did so in December 2024. The vote last week took the Bill one step closer to being signed into law.
The Securities and Exchange Commission of Pakistan (SECP) has amended the General Takaful Accounting Regulations, 2019, for takaful companies to disclose their takaful results in their published financial statements.
India's central bank Reserve Bank of India (RBI) will contribute to the global efforts to mitigate the risks associated with climate change and ensure that the Indian financial system remains resilient.
The Taiwanese cabinet has approved an amendment in the country's Insurance Act that bars the courts from seizing the life insurance policies of people in debt.
Indonesian workers who have been laid off will continue to receive national health insurance benefits for six months and they will also be exempted from contribution payments.
In light of the current regulatory landscape and the increasing demand for indexed universal life (IUL) insurance products from the high-net-worth customers, the Insurance Authority and the Hong Kong Monetary Authority issued a joint circular that is expected to bring greater certainty on launching IUL products exclusively targeting professional investors, as it clarifies the application of insurance regulatory framework in relation to product design, governance and sales process.
These are the updates on insurance regulation across China this week.
Malaysia's financial regulator Bank Negara Malaysia (BNM) in collaboration with the ministry of health and the Employees Provident Fund will develop a basic health insurance and also takaful products that will provide value-based healthcare.
The State Bank of Vietnam (SBV) has amended the law on deposit insurance to grant Deposit Insurance of Vietnam (DIV) more power.
The Saudi Central Bank intends to require listed financial institutions under its supervision to provide insurance coverage for board members against professional errors and failures.