The Goods and Services Tax (GST) Council is considering a reduction in GST rates on health and life insurance premiums rather than a complete exemption, according to official sources.
The Council of Ministers, which is the Jordanian Cabinet, has approved the rationale for the 2025 Insurance Bill, which will regulate the insurance market and enhance the confidence of those wishing to invest in the kingdom's insurance sector, reported Jordan News Agency (Petra).
The Insurance Association of Turkiye (TSB) has drawn up an Earthquake Insurance Reform Agenda to strengthen the country's readiness to face quake risks after the devastating 6 February earthquakes in 2023.
Board directors in Australia could have their tenure limited to 10 years under a proposal being considered by the Australian Prudential Regulation Authority (APRA).
Gross written premiums in the UAE insurance sector rose by 21.4% in 2024 to AED64.8bn ($17.6bn), according to the Central Bank of the UAE (CBUAE).
Gross written premiums generated in the insurance market in Egypt reached EGP11.7bn ($232.6m) in January, up from EGP8.4bn achieved in the same month in 2024, according to the Financial Regulatory Authority in its latest monthly publication.
As of March 13, data shows that insurance companies nationwide have received 216 fines, totalling CNY69.36m ($9.57m).
These are the updates on insurance regulation across China this week.
Hong Kong's insurance regulator, the Insurance Authority (IA), has instigated a conviction against Aurex Insurance Brokers, a licensed broker company. This is the first time the IA has instigated such an action.
Pakistan's insurance regulator, the Securities and Exchange Commission of Pakistan (SECP) has issued a consultation paper eliciting public input on a proposed policy framework for the issuance of ordinary shares with varied rights and privileges by companies.