Algeria's proposed revision of the insurance law should provide for the creation of an independent regulatory authority to oversee the insurance sector.
The new minimum capital requirement of SAR300m ($80m) for insurance companies in Saudi Arabia by the end of 2024 puts at least five insurers on the radar, according to Insurance Monitor, a research and consulting firm.
The Tanzania Insurance Regulatory Authority (TIRA) is encouraging the registration of healthcare providers in the country to facilitate identifying them and rendering them help when needed, such as when they are not paid on time or in full by insurers. Registration can be carried out online nationwide.
Algerian President Abdelmadjid Tebboune has ordered the postponement of a Bill, which when passed would update and modernise the insurance law.
The Insurance Authority, Hong Kong's regulator, has welcomed a decision made by the government to appoint Mr MM Lee as executive director of general business and Mr Marty Lui as executive director of long term business.
The listed financial services subsidiary of the automobile manufacturing group Mahindra & Mahindra has obtained a certificate of registration from the IRDAI for a corporate agency licence.
Insurers in China have begun to consider converting the coverage of existing life insurance policies to pension annuities, notes the mainland Chinese law firm Anjie Law.
China's Finance Ministry has announced the nationwide implementation of full-cost insurance and planting income insurance policies for rice, wheat and corn, which are the country's staple grains. The scheme took effect on 21 May, the date of the announcement.
The Hong Kong Insurance Authority (IA) says that its inspections, intelligence received, and mystery shopping have continued to reveal business models adopted by certain licensed insurance broker companies that appear obviously to rely on unlicensed persons to sell long-term insurance policies to Mainland China Visitors (MCVs).
The regulatory authorities have been providing window guidance to some insurance asset management companies, advising them to stop selling new investment products to individuals and to control the scale of investment in insurance asset management products by individual investors.