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Regulation tag returned 1167 results

  • Malaysia: Labuan FSA licenses first Southeast Asian InsurTech firm

    Axinan, a Singapore-based InsurTech firm, has secured a combined general and reinsurance licence from Labuan Financial Services Authority (Labuan FSA) through its subsidiary Axinan Labuan Limited. It is the first Southeast Asian InsurTech firm to be licensed by Labuan FSA, which regulates the Labuan International Business and Financial Centre (IBFC).

    Asia | 22 Aug 2019
  • Philippines: Government urged to provide mandatory crop insurance

    To help local farmers cope with damaged crops and their associated costs, the Philippine government is urged to provide mandatory insurance coverage for unhusked rice and other crops, according to local publication The Philippine Star.

    Asia | 22 Aug 2019
  • China: Social insurance plans cover 148 more drugs

    A total of 148 drugs have been newly included to the main list of drugs covered by China's basic medical insurance, work-related injury insurance and childbirth insurance plans according to a report from state media Xinhua News Agency. The inclusion is to take effect on 1 January 2020.

    Asia | 21 Aug 2019
  • Korea: Non-life insurers' rising marketing fees could penalise policyholders

    Major non-life insurers in Korea are spending more on marketing fees in order to boost market capitalisation, raising concerns that consumers will end up paying higher premiums, reported The Korea Times.

    Asia | 20 Aug 2019
  • Australia: Treasurer unveils roadmap for implementing Royal Commission recommendations

    The government has released its Banking, Superannuation and Financial Services Royal Commission Implementation Roadmap setting out how it will deliver on its comprehensive response to the Royal Commission's report, "Restoring trust in Australia's financial system".

    Asia | 20 Aug 2019
  • China insurance market expected to welcome more foreign investment: Law firm

    Recent developments in China's insurance sector have resulted in a more open market, providing investment opportunities to foreign investors as well as better oversight of domestic Chinese insurers and domestic investors in foreign invested insurance companies (FIE), according to a report by international law firm Allen & Overy. Chinese regulators are expected to take further measures to expand the insurance market, the report said.

    Asia | 19 Aug 2019
  • Bahrain: Central Bank issues final rules on online insurance platforms

    The Central Bank of Bahrain (CBB) last week issued final directives for online insurance platforms which are also called insurance aggregators.

    Middle East | 19 Aug 2019
  • New market access rules still exclude smaller foreign insurers

    China's latest relaxation on foreign insurance companies entering the country is welcome news for many global brands, yet smaller players appear to have been left out in the cold, according to industry analysts, according to a report in South China Morning Post.

    China | 16 Aug 2019
  • Australia: Allianz faces additional US$170m capital requirement

    The Australian Prudential Regulation Authority (APRA) has announced that it will apply an additional A$250m ($170m) capital requirement to Allianz Australia to reflect the issues identified in the insurer's risk governance self-assessment.

    Asia | 16 Aug 2019
  • Oman: Govt presses on with Omanisation drive

    The Ministry of Manpower has issued a ministerial decree extending a visa ban on expat hiring in several economic sectors.

    Middle East | 15 Aug 2019

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