Chinese regulators are tightening oversight of the participating life insurance market, warning insurers against arbitrarily inflating dividend levels in what has been described as 'involution-style' competition(also known as 'neijuan' in Chinese).
These are the updates on insurance regulatory developments in China.
A revision in the Chinese medical insurance law to improve the nation's basic healthcare system is likely to happen soon according to a news item posted on the website of The National People's Congress of the People's Republic of China.
A new survey has revealed that while overall perceptions of financial security in Asia have slightly improved, the reality is more sobering - particularly for GenZ, who emerge as the least financially secure and resilient generation surveyed.
Around two third of the policyholders participating in a survey said they have limited or no understanding of their insurance benefits and 60% of the dependents are unaware that they are even covered under any policy. The survey conducted by InsurTech CoverSure revealed that there is a significant gap between insurance ownership and coverage awareness among Indian policyholders.
Around 20% of Australian families avoid using their private hospital health insurance covers due to high out-of-pocket costs according to a survey conducted by Money.com.au.
The Thai insurance regulator Office of the Insurance Commissioner (OIC) recently organised the third edition of the super curriculum course for budding insurance leaders for the country's insurance industry.
Algeria's insurance market registered a 14% increase in the first quarter of the year compared to 1Q2024, dominated by the general insurance business.
S&P Global Ratings (S&P) has raised its long-term issuer credit and insurer financial strength ratings on Gulf Insurance Group (GIG) and Gulf Insurance and Reinsurance Co to 'A+' from 'A'. The outlook on all ratings is 'Stable'.
Equitas Small Finance Bank (Equitas SFB) has entered into a new bancassurance partnership with local insurer Edelweiss Life Insurance.