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Regulation tag returned 1122 results

  • Australia: Insurance professionals invited to enter inaugural AILA award

    The Australian Insurance Law Association (AILA) is currently inviting entries for its inaugural 'Gill Award' which honours AILA co-founder Michael Gill. It is open to financial members of AILA who are Australian-based residents and applications will close on 15 September 2019.

    Asia | 23 Jul 2019
  • China and Hong Kong's (re)insurance industries continue to benefit

    The China Banking and Insurance Regulatory Commission (CBIRC) will continue an agreement which allows lower capital requirements for mainland Chinese insurers who cede businesses to qualified Hong Kong professional reinsurers under the 'China Risk Oriented Solvency System'.

    Asia | 23 Jul 2019
  • Australia: Critical review spurs regulator to form new insurance division

    Following an unfavourable review, the Australian Prudential Regulation Authority (APRA) has decided to form a new insurance supervision division. The regulator will also be restructuring its banking and superannuation supervision divisions along industry lines after accepting a recommendation made in the capability review report.

    Asia | 23 Jul 2019
  • Thailand: Regulator points to the direction in which insurers need to move

    The Thai insurance industry has to adjust to new business models to deal with the changing operating environment, or face having their business disrupted, said Dr Suthiphon Thaveechaiyagarn, secretary general of the Office of the Insurance Commission (OIC(.

    Asia | 23 Jul 2019
  • Insurers pull out products from scandal-ridden Japan Post

    Following investigations of insurance fraud at Japan Post in recent times, Nippon Life Insurance has asked Japan Post temporarily to suspend the commissioned sales of one of its insurance products as reported by Jiji Press. Japan Post is currently considering its response to the request.

    Asia | 22 Jul 2019
  • Hong Kong: Regulator delegates powers ahead of new statutory regime

    Seeking to improve efficiency and to minimise possible regulatory overlap, the Insurance Authority (IA) has decided to delegate its inspection and investigation powers pertaining insurance-related businesses of authorised institutions (AIs) to the Monetary Authority (MA). This will take effect on 23 September 2019 when the new statutory regime for insurance intermediaries comes into operation.

    Asia | 22 Jul 2019
  • Zimbabwe: New regulatory chief urges insurance sector to move on

    Zimbabwe's newly appointed Insurance and Pensions Commission (IPEC) commissioner Grace Muradzikwa has said that the country's insurance industry has shown resilience despite economic turbulence.

    Africa | 22 Jul 2019
  • Nigeria: Insurers seek more time to meet additional capital requirements

    Some insurance companies have asked the insurance regulator to give them an additional three to five years to comply with higher minimum capital requirements.

    Africa | 22 Jul 2019
  • Philippines: Regulator revives wound down insurer

    The Philippines' Insurance Commission (IC) has lifted its conservatorship order against Metropolitan Insurance after the insurer secured investments by Hong Kong-based FinTech, Streetcorner E-Commerce. This has enabled the insurer to comply with the current PHP550m ($10.8m) capital requirement for insurance companies and undergo rehabilitation, reported The Philippine Star citing an advisory posted on the IC website.

    Asia | 19 Jul 2019
  • Prospective investors drop plans for new insurance licences

    With the return on equity (ROE) in insurance companies in China falling, industry observers suggest that buying wealth management products would be a better investment than acquiring a stake in insurers.

    China | 19 Jul 2019

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