...regulations stipulate that the approval of the insurance regulator is needed for such policies with terms of over one year. BOC Insurance said that it had never applied for approval.
<...Source : eCin | 20 Sep 2019
further standardise the benefit illustration mechanism for bonus allocation in participating insurance plans;
rationalise life insurers' quarterly submis...Source : eCin | 20 Sep 2019
...regulations will have to be updated. Currently, sales of existing life insurance products are geographically restricted. However, online business crosses borders.
&nbs...Source : eCin | 20 Sep 2019
...The new statutory licensing and conduct regime for insurance intermediaries that takes effect from next Monday, 23 September, introduces the sixth designated control function for insurers....Source : eDaily | 20 Sep 2019
...Stakeholders have until 25 September to respond to the International Accounting Standards Board (IASB)'s June 2019 exposure draft on amendments to IFRS17. IASB published its proposals after IFRS17 was effectively re-opened for the board to consider limited changes in November 2018 even though it was published in 2017 as a final standard....Source : eDaily | 19 Sep 2019
...The Insurance Regulatory and Development Authority of India (IRDAI) recently launched its regulatory sandbox to market participants at an event organised by the insurance regulator in partnership with Confederation of Indian Industry (CII). It has started taking applications earlier this week with the application period concluding on 14 October....Source : eDaily | 19 Sep 2019
...regulations bar an entity from promoting more than one insurance company, reported Business Standard.
The table shows the stakes held by soon-to-be-merged banks in insurance compan...Source : eDaily | 19 Sep 2019
...Australia's general insurance industry exhibits stable profitability and capital coverage with no critical short-term risks, said APRA in its updated Corporate Plan for 2019-2023 released last month....Source : eDaily | 19 Sep 2019
...The insurance and takaful sector continued to demonstrate resilience in the first six months of this year even under simulated scenarios of severe multi-year macroeconomic and financial shocks, notes the central bank, Bank Negara Malaysia (BNM) in its Financial Stability Review for the first half of this year....Source : eDaily | 19 Sep 2019
...regulations, and competition from new entrants.”
Source : ARM | 18 Sep 2019