Rising insurance premiums and proposed regulatory changes are likely to place increased financial pressure on homeowners in Australia according to Property Council of Australia (PCA).
The Nigerian Insurance Reform Bill, currently waiting for the president's assent, will create a compensation fund for victims of bankrupt insurance companies and a fund for uninsured road accident victims.
Further market consolidation is expected in the UAE insurance industry in 2025, says Fitch Ratings.
China's National Financial Regulatory Administration (NFRA) has issued a policy directive aimed at transforming the personal sales structure of the life insurance industry. The new framework, detailed in a notice released just recently, seeks to realign commission incentives, raise professional standards, and strengthen long-term service capabilities among life insurance agents. The move also supports the development of industry-wide product classification and agent tiering standards, to be led by the Insurance Association of China.
These are the updates on insurance regulation across China this week.
Themed 'Brokers 4.0: Getting Future Ready for the Next Decade', the 13th Asia Insurance Brokers' Summit kicked off in Jakarta, Indonesia, on 24 April 2025.
There is a critical need for the Ethiopian government to attach importance to the insurance industry, on a par with the attention given to banks and other financial institutions, senior executives of insurance companies have said. This is because the insurance market plays a vital role in supporting national projects and pushing economic growth.
The Nepalese government has set a target to increase the renewal of health insurance policies to 90% in the next five years to 2030.
In its role as the country's insurance regulator, Thailand's insurance regulator, the Office of Insurance Commission (OIC), is promoting motor coverage as a risk management tool to alleviate losses from road accidents, as well as promote safety and create sustainable security for the public.
There are a number of key issues arising from the impending increase in the Value-Added Tax (VAT) rate that will affect the majority of non-life policyholders, said the South African Insurance Association (SAIA) in a statement.