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Regulation tag returned 1043 results

  • Australia: Industry body concerned about NSW budget burdening insurance customers

    The Australian insurance industry is concerned that the New South Wales (NSW) budget, which emphasises solid operating surpluses, fiscal responsibility and strong infrastructure spending, comes at a cost to households and businesses that insure their assets. According to a statement from Insurance Council of Australia (ICA) CEO Rob Whelan, the amount of revenue that the NSW state government expects to raise from inequitable insurance taxes and levies will continue to place an unfair burden on NSW policyholders.

    Asia | 20 Jun 2019
  • Saudi Arabia: Several insurers under capital pressure

    Many insurers in Saudi Arabia are facing capital pressure. Nineteen (19) out of over 30 insurers operating in the market maintained shareholders' equity higher than the paidup capital at 31 December 2018, according to data compiled by Arabian Shield Insurance.

    Middle East | 20 Jun 2019
  • New Zealand: Govt to launch new regulatory system for financial advisors

    The New Zealand government yesterday announced a new licensing and rules regime for financial advisors.

    Asia | 20 Jun 2019
  • Grab aims to be Singapore's first virtual bank

    Based on insider knowledge, a report by Reuters said that ride-hailing firm Grab is exploring a move into banking in Singapore. This comes on the heels of the Monetary Authority of Singapore (MAS) mulling over the idea of allowing online-only banks.

    AIRPlus | 19 Jun 2019
  • The cost of AML compliance in Asia Pacific

    LexisNexis Risk Solutions latest report finds that AML compliance costs rose 9% to 10% during the past two years with growth expected to continue at a similar rate over the coming year.

    Asia Risk | 19 Jun 2019
  • Australia: APRA urges insurers to develop plans to tackle financial sustainability

    The Australian Prudential Regulatory Authority (APRA) has warned private health insurers (PHIs) to urgently address rising challenges that threaten the sector's financial sustainability. Insurers that continue to take a passive approach can expect more assertive action from APRA, the regulator says.

    Asia | 19 Jun 2019
  • India: Insurance CXOs suggest areas where regulatory support is needed

    The position of the insurance regulator is perceived to be reformatory by industry leaders in India, with decisions having been taken to protect customer interests and bring in transparency in processes and pricing to regulate the industry efficiently, according to insurance CXOs polled by PwC India in the professional services firm's Insurance Technology Adoption Survey 2019.

    Asia | 18 Jun 2019
  • Africa: Insurance markets return to growth

    Insurance markets in Africa have returned to a more stable environment following the 2015-16 deep and sudden recession, according to the Africa Insurance Barometer 2019 released last week by the African Insurance Organisation (AIO).

    Africa | 17 Jun 2019
  • Zimbabwe: Drafting of National Health Insurance Bill at advanced stage

    Health minister Obadiah Moyo has said that the government is now at an advanced stage in its drafting of a National Health Insurance (NHIS) Bill, which will provide a medical safety net to all citizens.

    Africa | 17 Jun 2019
  • Kenya: President insists on policyholders paying premiums directly to insurers

    President Uhuru Kenyatta has declined to sign into law changes to the insurance law that would allow brokers and agents to continue collect payments from policyholders on behalf of insurers.

    Africa | 17 Jun 2019

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