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).
With close to 2m COVID-19-positive cases in the region, insurers in South Asian markets are rising to the occasion to serve their clients by keeping offices functioning, introducing new products and promptly settling claims.
The central government may classify insurance as a strategic sector under a new privatisation policy, along with sectors such as railway, oil and gas, defence, space and atomic energy.
Online transactions through the Internet and the use of mobile applications need a new legislative framework to keep pace with the rapid digital development, says insurance expect Mohamed El-Morsy.
Clement Cheung, CEO of the Hong Kong Insurance Authority, has been re-elected as chairman of the Asian Forum of Insurance Regulators. Mr Cheung's second term is for two years until 2022.
Chinese financial regulators' proposal for tighter solvency regulations is credit positive for China's insurance industry, says Ms Qian Zhu, VP-senior credit officer, Financial Institutions Group at Moody's Investors Service.
The Kenyan High Court has on 16 July issued a ruling suspending value-added tax (VAT) on insurance agency and insurance brokerage services, pending the hearing and determination of a petition by the Association of Kenya Insurers (AKI).
The imminent entry into the Nigerian insurance market by two bank connected entities and owned investment company, Heirs Holdings, will benefit the sector. They have applied for insurance licences.
Mr Ryozo Himino has been appointed the new head of the Financial Services Agency (FSA).
The CEO of Hong Kong Insurance Authority, Mr Clement Cheung, has been re-elected as chairman of the Asian Forum of Insurance Regulators. Mr Cheung's second term is for two years until 2022.