The Australian Securities & Investments Commission (ASIC) proposes to ban unsolicited telephone sales of direct life insurance and consumer credit insurance (CCI).
The Financial Regulatory Authority has said that takaful companies looking to make a switch to offering conventional insurance plans will have to comply with new guidelines.
As the importance of environmental, social and governance (ESG) investment principles continues to grow, the Japanese government has started offering better trade insurance terms for ESG-compliant companies which provide information sought by investors adopting such ESG principles for overseas projects.
EF Marine is now an approved insurance provider for ships entering Indian territorial waters in accordance to the country's merchant shipping rules stipulated by the Directorate General of Shipping. The marine underwriter provides fixed premium protection and indemnity (P&I) solutions to ship-owners, charterers and multimodal operators with Swiss Re Corporate Solutions being its exclusive insurance carrier for all products.
Almost 90% of insurers currently operating in Saudi Arabia will have to raise new capital, consolidate through mergers and acquisitions, or exit the market entirely, when the regulatory authorities raise minimum capital requirements, S&P Global Ratings says.
Insurance companies in Singapore have strong capital positions, says the IMF in a report following its latest Financial Sector Assessment Program (FSAP) that analysed the country's financial sector.
One of Morocco's biggest insurers, Wafa Assurance, plans to enter the Egyptian market through the establishment of a subsidiary.
Preparations for the implementation of Oman's national health insurance scheme have reached an advanced stage.
Wealth management company AMP yesterday advised that the proposed sale of AMP Life (the Australian and New Zealand wealth protection and mature businesses) to UK-based Resolution Life is highly unlikely to proceed on the current terms due to the challenges in meeting a condition laid down by the Reserve Bank of New Zealand (RBNZ).
A senior parliamentary figure has urged the Financial Services Authority (OJK) to move more quickly to restructure two ailing insurance companies.