Saudi Reinsurance Company (Saudi Re) has signed a contract with The Company for Cooperative Insurance (Tawuniya), to reinsure the compulsory Inherent Defects Insurance (IDI) pool.
Oman's insurance regulatory and supervisory framework is assessed as having a good level of observance of the Insurance Core Principles (ICPs). A majority of the ICPs are assessed as either 'Observed' or 'Largely Observed', said the International Association of Insurance Supervisors (IAIS).
Chinese regulators are tightening oversight of the participating life insurance market, warning insurers against arbitrarily inflating dividend levels in what has been described as 'involution-style' competition(also known as 'neijuan' in Chinese).
Speaking at the Lujiazui Forum on June 19, National Financial Regulatory Administration (NFRA) Property Insurance Department director-general Yin Jiang'ao said that China's reinsurance sector remains underdeveloped relative to the size of its primary insurance market.
These are the updates on insurance regulatory developments in China.
The Thai insurance regulator Office of the Insurance Commissioner (OIC) recently organised the third edition of the super curriculum course for budding insurance leaders for the country's insurance industry.
The National Insurance Commission (NAICOM) has announced plans to introduce additional guidelines to ensure that retirees' funds and annuities remain secure and effectively managed and to boost consumer confidence.
Uganda is ready to adopt the Islamic insurance model, according to Dr Twaha Ahmed Kasule, a senior lecturer at the Islamic University In Uganda (IUIU).
The government has launched an initiative to provide insurance cover to service dogs working for the government.
The Indonesian government has initiated plans for a deposit insurance scheme for cooperatives in the country.