The CBIRC yesterday issued a circular encouraging the sales of catastrophe bonds by mainland insurers in Hong Kong.
The Financial Markets Authority (FMA) is urging an estimated 200,000 New Zealanders who have credit card repayment insurance (CCRI) to check whether they still need the product, after a review found cover to be of poor value.
The insurance regulator has called on the stock market regulator not to approve any initial public offering (IPO) for insurers without a no-objection certificate (NOC) from it because it is their primary regulator.
The Department of Finance (DoF), which now oversees the government-owned Philippine Crop Insurance Corp (PCIC), has said that it aims to make the company provide broader coverage and become less reliant on subsidies.
IFC, a subsidiary of the World Bank, and the Insurance & Social Insurance Supervisory Authority (ACAPS) have entered into a partnership aimed at defining strategic orientations, and promoting the acceleration of the digitisation of the insurance sector in Morocco.
The introduction of economic value-based solvency regulations, which the Financial Services Agency (FSA) is currently making preparations to roll out, will likely require greater risk-based management among insurers, says Professor Nobuyasu Uemura, of the Faculty of Commerce at Fukuoka University.
The adoption of the International Financial Reporting Standard 17 (IFRS 17) on Insurance Contracts by the insurance sector in Saudi Arabia will be a boon for investors eyeing stakes in insurers in the Kingdom, according to Mr Sulaiman Binmayouf, CEO at United Co for Actuarial Services (CAIS).
The Insurance Working Group of the EU Chamber of Commerce in China says that it expects Beijing to continue with its incremental approach to reform and opening up to strengthen its financial sector, while emphasising strict compliance with regulatory requirements.
The Insurance Working Group of the EU Chamber of Commerce in China notes that while there have been key changes in opening up of the Chinese insurance market since 2019, the persistence of indirect barriers have rendered opening-up incomplete.
The Insurance Working Group of the EU Chamber of Commerce in China has once again urged the Chinese authorities to speed up the issuing of insurance licences to foreign applicants.