The yield on several universal life insurance plans is viewed as attractive, as interest rates move downwards, and the yield on bank wealth management products involving bonds has also generally declined.
Another listed company has announced that it was cancelling its plant o establish an insurance company, making the total number of listed companies that have made this decision at least six to date.
An insurance company, Tian'An P&C, has failed to receive the principal and investment income on 11 trust products as they matured.
The CEOs and chief actuaries of 12 life insurance companies were called up earlier this week for "interviews" with the life insurance supervision department of the CBIRC over the risk of negative spread inherent in the universal life plans that they were selling.
The Nuclear Threat Initiative's NTI Index 2020 reveals that only 47% of the countries have a response plan in place for a cyberattack on a nuclear facility. The NTI Index 2020 also found that most of those nations also do not have adequate regulations for cybersecurity. Only 34% receive a high score for cybersecurity.
The Insurance Council of Zimbabwe (ICZ) says that some compensation relating to road accidents have gone unpaid mainly due to a lack of adequate knowledge.
The Financial Sector Conduct Authority (FSCA) has published a revised draft Conduct Standard delineating the requirements relating to third party cell business (Draft Conduct Standard).
The Kuwaiti Insurance Regulatory Unit has issued a bundle of decisions and measures regarding the regulation and control of insurance activity for Kuwaiti and foreign companies and insurance brokers.
Sino-French Life Insurance, a joint venture set up by China Post and France's CNP Assurances, may have to file for bankruptcy or the authorities could take control of the insurer due to the firm's lack of solvency.
The International Financial Services Centres Authority (IFSCA) has formed a panel of industry experts to formulate a plan to develop international retail business at the International Financial Services Centre (IFSC).