The Financial Regulatory Authority has issued a resolution, stipulating that conventional insurance companies are permitted to have a stake in a takaful company.
UAE publicly-listed companies, including insurers, have begun reporting their exposure if any to NMC Health, the embattled healthcare operator, which is at risk of being placed into administration.
Bank Negara Malaysia (BNM) has intensified its engagements with financial institutions on improving approaches to the measurement of operational risk as well as scenario analysis and stress testing according to a news report https://www.malaymail.com/news/money/2020/04/03/bnm-intensifies-engagement-to-improve-operational-risk-measurement/1853305
New life and family takaful business in Malaysia performed better (+11%) in the second half of 2019 relative to the same period last year, notes Bank Negara Malaysia (BNM) in its financial stability report for 2H2019 released last week.
The low interest rate environment in recent years has increased the capital buffers that insurers and takaful operators (ITOs) in Malaysia are required to hold against market risk exposures, says Bank Negara Malaysia (BNM) in its financial stability report for 2H2019 released last week.
The IRDAI says that it has observed that the reward policy for agents and intermediaries approved by the boards of directors of insurance companies lacks objectivity and transparency in many insurers.
The National Credit Regulator (NCR) has advised consumers to make use of their credit life insurance, to obtain some relief if they are unable to earn an income as a result of COVID-19.
No insurance company is going to fold in the ongoing recapitalisation exercise initiated by the sector's regulator, National Insurance Commission (NAICOM), according to Mr Simon Okeke, executive chairman of Purebond Insurance Brokers, who has over three decades' experience in the insurance industry.
The Angolan Insurance Regulation and Supervision Agency (ARSEG) has levied fines on 11 insurance companies, including two of the five biggest insurers in the country.
India lacks a law specifically targeting all aspects of insurance fraud despite the fact that insurers lost INR450bn ($5.9bn) due to fraud in 2019, according to Mr S K Sethi, founder and CEO of the Insurance Foundation of India and the founder Director of Ria Insurance Brokers.