The Arab Conference for Financial Inclusion and Sustainable Insurance, which was held in Cairo on 23-24 February, called on regulatory bodies to quickly absorb technological developments and innovations affecting the insurance industry, develop appropriate regulatory legislation for them, and work with oversight bodies to make the legislative framework conducive to financial inclusion.
Insurers and the Korea Life Insurance Association are lobbying the government to allow them to invest more than 30% of their total assets in foreign markets.
Health insurance in Saudi Arabia is expected to continue to grow in 2020 following the introduction of temporary insurance for pilgrims from abroad, says Fitch Ratings.
The Indian government last week made its flagship crop insurance schemes voluntary for farmers with existing crop loans or those willing to take on new ones, as it seeks to address concerns raised by farmers and states in the implementation of these programmes.
The CBIRC plans to place Dajia Insurance into private hands in the future, after it ended last Saturday a two-year management takeover of the erstwhile Anbang Insurance group.
The Ministry of State-Owned Enterprises (BUMN Ministry), has drawn up three proposals for repaying policyholders of financially stricken state-owned life insurer, Asuransi Jiwasraya.
The Financial Services Authority (OJK) plans to use stock market tools to step up its review of investments in the capital market by the non-bank financial industry (IKNB), to prevent unhealthy investment practices.
Officials in Saudi Arabia are working to expedite the completion of new insurance regulations which they hope will be passed this year, the kingdon's central bank governor said in an interview with Bloomberg TV.
China will allow qualified insurers and banks to participate in treasury bond futures trading on the China Financial Futures Exchange.
The government is working to expedite legislation governing the insurance and pensions sector, Finance and Economic Development Minister Mthuli Ncube, has said.