Chinese tax residents are required under existing law to pay individual income tax on their worldwide income, including taxable returns from overseas insurance products. This clarification from the State Taxation Administration (STA) comes amid market discussion surrounding insurance policies purchased in Hong Kong.
The Philippines' state insurer gets a new chief in Beverly Lorraine Ho, Chief Health Officer of Ayala Healthcare Holdings and a former Department of Health (DOH) official. She was appointed as the new President and CEO of the Philippine Health Insurance Corp (PhilHealth), according to a presidential spokesman.
Opening session speakers at the Sri Lanka International Insurance Summit in Colombo yesterday emphasised on the tremendous opportunities being created in Sri Lanka for insurance industry stakeholders and called for a collaborative approach in building a strong and resilient insurance sector.
The National Insurance Commission (NAICOM) expects insurers to demonstrate tangible benefits from their stronger balance sheets, following the completion of an industry-wide recapitalisation exercise.
The 2026 profitability outlook of the insurance industry is subject to greater uncertainty than the 2025 results alone suggest, says the Insurance Authority in its "Saudi Insurance Market Report 2025" report.
Complaints about general insurance products and services in Australia remained persistently high during 2025-26, according to preliminary data released by the Australian Financial Complaints Authority (AFCA).
The Saudi insurance sector continued to expand in 2025, with gross written premiums increasing by 11% to SAR84.3bn ($22.5bn) compared to 2024, according to the Insurance Authority in its latest flagship yearly report, "Saudi Insurance Market Report 2025".
The Insurance Authority has adopted beneficial ownership guidelines and granted insurance companies a grace period to comply with the new requirements.
Tax authorities in several parts of China have started to apply personal income tax rates of 20% on returns from Hong Kong insurance policies, including dividend payouts and interest earned on prepaid premiums, according to a report by Reuters.
China's National Financial Regulatory Administration (NFRA) and the Ministry of Finance (MOF) have reached agreement on revised measures governing professional liability insurance for accounting firms, with the new rules expected to be issued soon.