International Finance Corporation (IFC) and QBE Asia will collaborate to advance building resilience and address the persistent property insurance gap across the Asia-Pacific region, according to a statement released by IFC.
The Australian Prudential Regulation Authority (APRA) has proposed to allow reduced capital requirements for annuity products in return for enhanced risk management by life insurers, including closer matching of assets and liabilities.
Singapore Reinsurance Corporation (Sing Re) has secured the reinsurance branch licence by the International Financial Services Centres Authority (IFSCA) to operate as an IFSC Insurance Office (IIO) in India's Gujarat International Finance Tec-City (GIFT City).
Insurance policyholders in Indonesia will be required to cover at least 10% of the total outpatient or inpatient claims incurred at medical facilities, according to new rules set by the Financial Services Authority (OJK) to implement risk-sharing between insurers and policyholders. The new stipulation will come into effect from 1 January 2026.
Japan will set a goal of reducing an estimated life toll of up to 298,000 deaths from a potential megaquake occurring in the Nankai Trough by around 80% over the next 10 years according to a report by Kyodo News.
China will soon bring in mandatory safety requirements for driving assistance systems in the country. China's Ministry of Industry of Information Technology recently put forward a proposal to this effect.
The Motor Trades Association of Australia (MTAA) has expressed deep disappointment at the decision by the Australian Competition and Consumer Commission (ACCC) to approve Insurance Australia Group's (IAG) acquisition of RACQ's insurance operations.
Intensifying geopolitical rivalries, policy uncertainty and competition for critical minerals are reshaping the risk landscape as well as driving demand for protection and these in turn are giving a boost to credit and political risk insurance according to a new report.
Aon Singapore has appointed Ms Tisha Soh as head of the client services team, according to a LinkedIn post. In her new role, she will lead the client services team, using her wealth of experience and energy to strengthen how Aon Singapore supports clients and each other.
Global claims services provider McLarens has appointed Mr Torben Bell as managing director of its operations in Australia.