The National Insurance Commission (NIC) has outlined plans to overhaul Ghana's insurance market by improving the regulatory framework, increasing coverage and rebuilding public trust in the sector.
The Saudi Health Insurance Council is taking steps to expand the insurance coverage of individual workers. It is considering contracting with a specialised consulting firm to evaluate the current package of insurance benefits for this group of employees.
The revised insurance law is expected to come into effect before the end of this year, to replace the existing law, which dates to 2005.
Insurance premiums written in the insurance market increased to TZS1.42tn ($565.7m) in 2024 from TZS911.5bn in 2021, equivalent to a growth of 55.6% over the four years, averaging an annual increase of 11.7%, according to a report released by the Tanzania Insurance Regulatory Authority (TIRA).
Thailand's regulator, the Office of Insurance Commission (OIC), has issued Registrar's Order No. 51/2568 to increase the coverage limit for both compulsory and voluntary motor insurance to a maximum of THB20m ($620,000) per incident, in order to address major accidents without adjusting premiums.
The Tanzania Insurance Regulatory Authority (TIRA) has released an outline of its strategic priorities for 2025/26-2026/27, including measures to strengthen regulation, expand coverage and support the insurance sector.
Allied Cooperative Insurance Group (ACIG) has received the approval of the Insurance Authority to increase the company's capital to SAR300m ($80m) from SAR291m.
Insurance premiums are expected to increase soon, as the government is planning to increase the tax rate to strengthen the Solidarity Fund against Catastrophic Events (FSEC).
China's National Financial Regulatory Administration (NFRA) has stepped up efforts to refine its supervisory framework, scrapping a series of outdated insurance rules while introducing new regulations to strengthen oversight of the sector. The latest round of adjustments is aimed at modernising the regulatory system and aligning it more closely with evolving financial market needs.
These are the updates on insurance regulatory developments in China.