The CBIRC has revised and issued the "Measures for the Supervision and Evaluation of Corporate Governance of Banking and Insurance Institutions" to improve supervision of corporate governance in financial institutions and to prevent and defuse corporate governance risks.
In developing green insurance business, insurance companies should break away from the existing practice of delivering statistics along rigid insurance product lines, according to Mr Liang Tao, a vice chairman of the CBIRC.
Some recent trends affecting the insurance industry in the Middle East include digitisation, re-imagining customer value, and sustainability and ESG, says professional services firm PwC Middle East.
AIA Singapore yesterday launched the AIA Sustainable Multi-Thematic Fund, making it the first bespoke sustainable thematic fund in Singapore for investment-linked products (ILPs).
To give full play to the positive role of insurance in establishing and improving green, low-carbon and circular development, the CBIRC has defined for the first time green insurance and provides guidelines for reporting data on green insurance and the establishment of the Green Insurance Business Statistics System.
Risk managers have a clear role to play in developing and managing ESG strategies for their organisations, but work is needed to define where best to focus efforts according to a new survey conducted by WTW.
Ping An Insurance (Group) Company of China has been rated 'A' in the Morgan Stanley Capital Investment's (MSCI) 2022 ESG Ratings.
In the insurance industry, there is significant opportunity in the insurance industry for innovation in managing catastrophes driven by extreme climate events, Mr Jonathan Larsen, Chief Innovation Officer of Ping An Insurance (Group) Company of China, has said.
A comparison of the health impacts of climate change across countries points to a future that intensifies current inequalities: among G20 countries - which account for the majority of cumulative CO2 emissions -- a third will experience additional death rates because of climate change.
The Central Bank of Bahrain (CBB) says that it is currently developing Environmental, Social, and Governance (ESG) disclosure guidelines to assist companies, including insurers and banks, with ESG integration and reporting.