The Insurance Authority has signed a memorandum of understanding (MoU) with the General Organization for Social Insurance (GOSI) to cooperate in providing insurance products and services, developing related electronic and digital transactions, exchanging expertise, and enhancing business development between the two sides, to enhance beneficiary satisfaction.
Fitch Ratings has revised the outlook on South Korea-based Hanwha Life Insurance's (HWL) Insurer Financial Strength (IFS) Rating and Long-Term Issuer Default Rating to 'Positive' from 'Stable'. HWL is among the country's top three life insurers.
The chairman of the Insurance Authority, Mr Abdulaziz Al-Bouq, has announced the launch of the regulator's experimental environment platform for the insurance sector, during the FinTech 24 Conference in Riyadh.
The Finance Ministry is planning to raise INR47bn ($797m) by divesting a 6.78% stake in listed General Insurance Corporation of India (GIC) through an Offer for Sale (OFS).
Insurance Regulatory and Development Authority of India (IRDAI) has set up a task force to solve the bottlenecks and drive the growth of surety bond insurance in the Indian market. The task force comprises representatives from insurance companies, banks and reinsurers.
State-owned Ethiopian Insurance Corporation (EIC) is expected to be among the first companies to be listed on the country's stock exchange which is scheduled to start operations before the end of this year.
The Financial Regulatory Authority (FRA) has released a regulation governing the granting or renewal of licences of non-banking financial companies (NBFCs) including insurers.
The Insurance and Private Pension Regulation and Supervision Agency (SEDDK) has published a circular requiring insurance companies to submit the parameters of the earthquake stress tests they plan to conduct.
APRA and ASIC agreed that investment governance is an area of ongoing importance for superannuation industry attention, according to statements released yesterday by the two regulators.
The central government is planning to increase the sum insured under two of its flagship insurance schemes -- Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY) and Pradhan Mantri Suraksha Bima Yojana (PMSBY).