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Regulation tag returned 2063 results

  • Thailand: Insurers now allowed to issue insurance capital bonds

    Insurance companies are now allowed to issue subordinated insurance capital bonds (ICBs), which can be another way of insurers managing their finances. Under a new notification by the Capital Market Supervisory Board (CMSB), the proceeds from ICBs may be counted as part of total capital available (TCA), comments global law firm Baker McKenzie.

    Asia | 18 Jan 2021
  • Nigeria: Regulator outlines approaches to help grow insurance industry this year

    The National Insurance Commission (NAICOM) is proceeding with its plans for various policies and initiatives to develop the insurance sector despite challenges such as the suspension of the recapitalisation exercise, COVID-1, #EndSARs and others.

    Africa | 18 Jan 2021
  • Angola: Fitch finds insurance regulatory oversight to be weak

    Supervision of the insurance market in Angola is weak with poor compliance with regulations by local players, says Fitch Ratings in a recent report.

    Africa | 18 Jan 2021
  • Egypt: Insurance law to be amended to spell out role of health insurers

    The Egyptian government is seeking to strengthen the partnership between the government, civil society and the private sector to achieve integration between the comprehensive health insurance system, the medical insurance industry and the healthcare sector to improve health services for the public, said Dr Mohamed Maait, Minister of Finance and chairman of the General Authority for Comprehensive Health Insurance.

    Middle East | 18 Jan 2021
  • Saudi Arabia: Regulator penalises directors and senior execs of financially stricken insurer

    Some members of Weqaya Takaful and Reinsurance's board of directors, audit and executive committees were convicted and fined a total of SAR1.3m ($350,000) in a lawsuit filed by the Capital Market Authority (CMA).

    Middle East | 17 Jan 2021
  • Short-term health insurance regulations issued

    The CBIRC has issued its "Notice on Regulating Issues Concerning Short-term Health Insurance Business", covering of product design, policy renewal, sales, claims, and the suspension of sales. The goal is to regulate short-term health insurance operations and management.

    China | 15 Jan 2021
  • Regulator decentralises direct supervision of life insurers

    The CBIRC is decentralising its direct supervision of the 91 life insurers in the country by splitting them into those that are to be supervised by local regulatory bureaux and those whose direct supervision is retained by the headquarters.

    China | 15 Jan 2021
  • India: Regulator forms Health Insurance Advisory Committee

    The IRDAI has formed a panel of experts to examine the availability of health insurance products in the country in light of the needs of society and to recommend suitable products and processes.

    Asia | 15 Jan 2021
  • Bangladesh: Govt in multimillion-dollar project to digitise insurance sector

    The Bangladeshi government is undertaking a BDT6bn ($70.75m) project to ensure faster upgrading and digitalisation of the insurance sector, Mr M Mosharraf Hossain, chairman of the Insurance Development and Regulatory Authority (IDRA), has said.

    Asia | 15 Jan 2021
  • UAE: Regulator suspends reinsurance rating requirements for one year

    The Insurance Authority (IA) has exempted reinsurance providers from rating requirements for a period of one year to ease the pressure on capacity, especially with the COVID-19 pandemic causing more stress.

    Middle East | 14 Jan 2021

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