Several players in the insurance ecosystem are working on improving the regulation of microinsurance in the CIMA (Inter-African Conference on Insurance Markets) zone to establish a more favourable framework conducive to the development of an inclusive insurance market.
The government's decision to altogether remove goods and services (GST) tax on health and life insurance premiums has come into effect from 22 September 2025 and is expected to reduce insurance premiums substantially and increase insurance penetration.
The Australian Reinsurance Pool Corporation (ARPC) has published revised premium rates for the Cyclone Reinsurance Pool (cyclone pool). The new premium rates (premium rates v4.0) will be effective from 1 April 2026 and will replace premium rates v3.0 (effective since 1 April 2025).
The government has doubled the maximum deposit insurance payout to KRW100m ($71,400) from 1 September 2025, against the KRW50m limit set in 2001.
The Financial Regulatory Authority (FRA) announced in a statement last week that it had launched a comprehensive training strategy for the insurance sector to build future leaders, in cooperation with Egyptian insurance companies and a number of international universities and institutes.
Several central state-owned insurance companies have begun implementing pay reductions for senior executives, local news reports said, as part of broader remuneration reforms across China's state-owned enterprises (SOEs).
These are the updates on insurance regulatory developments in China.
The Iraqi Insurance Diwan (IID), the insurance regulator, has announced the completion of a draft Code of Professional Conduct for the insurance sector.
The Australian Prudential Regulation Authority (APRA) has implemented minor updates to the Private Health Insurance (Health Benefits Fund Enforcement) Rules 2025 and the Private Health Insurance (Risk Equalisation Administration) Rules 2025.
The government is likely to introduce the Insurance Amendment Bill in the winter session of parliament that convenes in November and December. This new bill proposes 100% FDI in the insurance industry.