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Regulation tag returned 1379 results

  • Japan: 9,000 cases of inappropriate insurance sales

    At least 9,000 cases of improper insurance sales were uncovered during an investigation by the Japan Post group, reported Reuters citing an article from Japanese newspaper Yomiuri Shimbun. The group also announced that it will release findings on its ongoing insurance sales scandal on 18 December.

    Asia | 16 Dec 2019
  • Namibia: Supreme Court says reinsurance law must be complied with

    The Namibian Supreme Court has issued a stern warning to insurance companies that defy the Namibia National Reinsurance Corporation Act which compels them to reinsure a portion of their business with NamibRe.

    Africa | 16 Dec 2019
  • UAE: Comprehensive financial supervisory framework may be established in 2020

    A joint financial services regulator, which will fundamentally change regulation of the insurance sector in the UAE, could be established next year, says Mr Peter Hodgins, a partner at the global law firm Ciyde & Co.

    Middle East | 16 Dec 2019
  • Singapore: MAS co-launches culture steering committee for the insurance industry

    The Monetary Authority of Singapore (MAS), the General Insurance Association of Singapore (GIA), the Life Insurance Association (LIA) and the Singapore Reinsurers' Association (SRA), have established the Insurance Culture and Conduct Steering Committee (ICCSC) to foster sound culture and strengthen standards of conduct among insurers in Singapore.

    Asia | 16 Dec 2019
  • Saudi Arabia: Tawuniya to insure foreign pilgrims for next 4 years

    Tawuniya and the Hajj and Umrah Ministry have signed an agreement for the former to provide insurance for pilgrims coming from outside Saudi Arabia.

    Middle East | 15 Dec 2019
  • Global: Malaysia's central bank governor to chair Islamic Financial Services Board wef 1 Jan

    Ms Nor Shamsiah Mohd Yunus, governor of Bank Negara Malaysia will take over the chair of the Islamic Financial Services Board (IFSB) while Mr  Mubarak Rashed Khamis Al Mansoori, governor of the Central Bank of the UAE will be the deputy chairperson, according to the IFSB council. The new appointments will take effect on 1 January 2020. Ms Nor Shamsiah takes over the chair from Mr Fazle Kabir, the governor of the Bangladesh Bank.

    Middle East | 15 Dec 2019
  • Regulator issues endowment insurance regulation

    The CBIRC has issued a regulation to life insurers that stipulates that insurers must ensure that the life protection period of endowment products is similar to that of the duration of the savings component.

    China | 13 Dec 2019
  • India: Insurers can now invest in debt ETFs

    Insurers will now be able to invest in debt ETFs (exchange traded funds) with underlying debt securities of central public sector enterprises (CPSEs), says the insurance regulator.

    Asia | 13 Dec 2019
  • Tunisia: Lawmakers pass proposal to levy 3% special tax on insurers

    Tunisia's People's Assembly have passed a proposal to impose a special tax of 3% on the taxable income of insurance companies and banks for the benefit of social funds.

    Middle East | 12 Dec 2019
  • Hong Kong: The end of the beginning

    Hong Kong's tax incentives to boost retirement savings through the Qualifying Deferred Annuity Policy (QDAP) initiative serves as an example of how the Insurance Authority (IA) has worked effectively with the industry to fill a social need, according to IA chairman Dr Moses Cheng in his welcome address at the Asian Insurance Forum 2019 yesterday.

    Asia | 11 Dec 2019

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