China's Cabinet, the State Council, has issued a guidance on further improving the basic medical insurance system for employees, that will among other things allow coverage of outpatient medical treatment so as to reduce the burden on the public of medical expenses.
Prudential Life Assurance (Prudential Indonesia) is preparing to spin off its Shariah business unit into a separate entity. The move is expected to be completed before 2024.
The hike in the foreign direct investment (FDI) limit from 49% to 74% in the insurance sector is expected to shorten the breakeven period for insurers from current eight years to five, says a working paper by the Indian Institute of Management Indore.
A Bill seeking to introduce amendments to the insurance law and place the Insurance Commission (IC) under the supervision of the Bangko Sentral ng Pilipinas has been filed in the Senate.
Both houses of Parliament of India - the Lok Sabha (lower house) and the Rajya Sabha (upper house) - have passed the Insurance Amendment Bill which includes a provision to increase the ceiling on foreign direct investment (FDI) in insurance companies to 74% from the current 49%.
The Financial Services Council (FSC) yesterday issued a green paper to lead the public policy debate on a restructuring of financial advice.
Insurance and pension laws in Zimbabwe are backward, according to Mr Daniel Ndlela, a former economics professor at the University of Zimbabwe.
Estimates are that abuse of the insurance arbitration process costs insurers losses of TRY150m ($18.6m) to TRY200m annually.
The CBIRC is conducting a study on life insurance sales and plans to formulate measures to improve the sales management, according to industry players. This includes launching a comprehensive review of the commission system in the life insurance sector.
The CBIRC has issued a set of draft regulations, that standardises for the first time the accident insurance business of property and life insurance companies. The goal is a unified set of rules for property and life insurers that will help prevent possible regulatory arbitrage behaviour by insurers.