The CBIRC yesterday published the "Measures for the Supervision of the Behaviour of Large Shareholders of Banking and Insurance Institutions (Trial Implementation)". The aim of the regulation, which is already in effect, is to improve supervision over shareholders of insurers and banks, strengthen corporate governance, prevent financial risk and prevent such shareholders from interfering improperly with the normal operation of insurers or banks.
Up to 10 October, 24 insurance companies have disclosed their plans for registered capital increases amounting to an aggregate of over CNY34.4bn ($534m), much higher than the CNY19.6bn announced for the corresponding period last year, according to data compiled by Beijing Business Today.
Cyber insurance has been profitable for US property and casualty (P&C) insurers for several years but recent growing losses tied to network intrusions, phishing incidents and denials of service will likely increase claims volume and average cost per claim going forward according to a recent report by Fitch Ratings.
Australians can expect an average or slightly above average cyclone season with an increased risk of widespread flooding over the east and north according to country's Bureau of Meteorology's (BOM) Severe Weather Outlook released in October 2021.
Most organisations (85%) are more concerned about ransomware than other cyber threats according to Fortinet 2021 Global State of Ransomware report released in September 2021.
New research has revealed that countries facing the highest number of natural disasters are among the world's least peaceful countries.
Dutch risk managers expect less stressful renewals as the threat of COVID-19 recedes and face-to-face meetings make a comeback.
Satellites are the backbone of our daily lives and this makes them an increasingly attractive target for cyber hackers, according to Hiscox Global Insights.
The Arab Monetary Fund (AMF) revealed that the insurance sector in the Arab region has witnessed growth in recent years in line with the region's economic development that boosts the need for insurance services.
Al Hilal Takaful has joined BENEFIT, Bahrain's Electronic Network for Financial Transactions, to use the national electronic Know-Your-Customer or eKYC platform.