The CBIRC has updated its solvency regulations for insurers with the revised rules to take effect from 1 March 2021.
The government is studying a proposal to inject more capital into three state-run general insurers-National Insurance, Oriental Insurance and United India Insurance-in the fiscal year ending 31 March 2022 (FY22) to boost their solvency levels and enable them to meet regulatory requirements in the aftermath of the COVID-19 pandemic.
Insurers have raised their plea for the government to forego implementing the next and final tranche of an increase in the industry's capital requirements by the end of 2022.
Zimbabwe's insurance and pensions regulator is seeking the re-listing of insurance giant, Old Mutual, on the Zimbabwe Stock Exchange (ZSE).
The Central Bank of Saudi Arabia (SAMA) says that it continues to work on a number of development initiatives and structural reforms in order to develop the insurance sector and for the sector to achieve alignment with the Kingdom's "Vision 2030" goals.
The Ministry of Labour has issued a decision to reserve a number of professions in the private sector, including insurance, finance and accounting, for Omani nationals only.
Regulators still support insurers and banks cooperating with Internet-based platforms, despite recent anti-trust measures taken in the FinTech sector, reported Reuters quoting Mr Liang Tao, a CBIRC vice chairman.
An IRDAI panel has suggested standardisation of the professional indemnity policy under which insurance cover can be provided to brokers, corporate agents, web aggregators and insurance marketing firms.
The life insurance supervision department of the CBIRC has established a new "negative list" for life insurance products in order to further regulate the product development and management at life insurance companies, curb life insurance product risks, and protect the interests of consumers.
The CBIRC is seeking feedback on draft regulations to implement Phase 2 of China Risk Oriented Solvency System II (C-ROSS II), that among things, would help the regulator get to the bottom of the underlying assets in which insurers invest that are obscured by financial manoeuvres or arrangements such as nesting.