The government has introduced the first tranche of legislation in Parliament to deliver a comprehensive package of reforms to ensure Australians have access to quality and affordable financial advice.
In 2023, the Monetary Authority of Singapore (MAS) named four 'domestic systemically important insurers' - AIA Singapore, Income Insurance, Prudential Assurance and Great Eastern Life Assurance.
The Tanzanian government is committed to fostering a robust insurance market as a cornerstone of economic development, according to Professor Kitila Mkumbo in his capacity as the Minister of State for Investment and Planning.
The IRDAI has announced its finalised set of rules on surrender value that stipulates that from 1 April 2024, the surrender value is expected to remain the same or even lower if policies are surrendered up to a period of within three years.
The IRDAI has granted a Certificate of Registration to a new health insurer, Galaxy Health and Allied Insurance Company, to carry out health insurance business in India.
The Financial Intelligence Processing Unit (CTRF) of the Ministry of Finance has contacted financial institutions, including insurance companies and banks, about complying with regulations covering anti-money laundering and countering the financing of terrorism (AML/CFT).
The insurance market in Morocco achieved total premiums of MAD56.7bn ($5.6bn) in 2023, an increase of 4% over 2022, according to annual industry data released by the Insurance and Social Security Supervisory Authority (ACAPS).
The IRDAI has approved eight principle-based consolidated regulations, following a comprehensive review of the regulatory framework for the insurance sector.
Minister of Commerce and Consumer Affairs of New Zealand Andrew Bayly has said that he wants to revert to a twin-peak regulatory model in the financial sector.
In early 2023, the prime minister of Vietnam's Decision 07/QD-TTg was issued, approving the strategy to develop the insurance market in the country until 2030. The application of technology in the insurance industry was covered in the document, with the prime minister requesting the formation of a regulatory sandbox in order to encourage companies to develop new digital products and services.