The Insurance Board, Nepal's insurance regulator, in a recent circular has mandated all life and non-life insurance companies to seek 100% reinsurance support from domestic reinsurance companies only.
Japanese life and non-life insurers' underwriting fundamentals are likely to be stable overall despite the ongoing economic stress from the COVID-19 pandemic, says Fitch Ratings. The agency has a neutral outlook on the sector.
The government has said that there is no proposal as of now to merge public-sector general insurance companies.
A review of the handling by insurers of nearly 9,000 insurance claims from consumers affected by the 2019-20 'Black Summer' bushfires shows improved claims handling practices, says the Australian Securities and Investments Commission (ASIC).
Howden, the UK-headquartered international insurance broker, yesterday announced the acquisition of the assets of Expat Marine Limited (EML), a specialist insurance broker providing employee benefits and general insurance products and advice to clients in Hong Kong.
Over 5,000 new homes have been approved to be built in UK in areas that are at the highest risk of flooding according to a new report released in November 2021.
China's insurance regulator yesterday issued amended requirements for the risk management and investment activities of insurance groups, to step up supervision and prevent risks in the sector, reported Reuters.
Fitch Ratings' outlook on Korean life and non-life insurance for 2022 is tagged as 'Neutral', considering wider investment margins and better underwriting performance, which could be offset partly by the pressure on capital strength.
The Bangladeshi government has introduced regulations covering the licensing and hiring of insurance agents.
The Insurance Regulatory and Control Authority (ARCA) of the Democratic Republic of the Congo (DRC) has estimated that the size of the insurance market in the country is $800bn, eight times that of its actual size at present.