China’s financial regulator announced on 8 April that it was raising the cap on equity investments by insurance funds, as part of measures to adjust regulations on insurance fund utilisation to enhance the insurance sector’s role as a source of long-term, patient capital for the country’s economic and social development.
The IRDAI has approved a licence for Valueattics Reinsurance to promote competition in the reinsurance market.
The weakening of the Indonesian rupiah against the US dollar is considered a significant risk to the country’s general insurance industry in Indonesia.
A high-level economic reform committee formed by the Nepalese government has suggested that insurance premiums be determined by the market in a competitive manner.
The Insurance Commission (IC) has issued Circular Letter (CL) on the “Omnibus Guidelines on Investments”, to enhance investment adaptability of insurers, reinsurers and mutual benefit associations (MBAs) to respond to the dynamic investment market environment.
The Financial Services Commission (FSC) has issued a preliminary notice of legislative changes regarding the Financial Holding Companies Act and its Enforcement Decree, with aims to facilitate synergetic effects in financial holding companies and unleash more agile responses amid changing external environments.