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  • Singapore: IMF team finds insurers in city state have strong capital positions

    ...Insurance companies in Singapore have strong capital positions, says the IMF in a report following its latest Financial Sector Assessment Program (FSAP) that analysed the country's financial sector....

    Source : eDaily | 17 Jul 2019
  • India: Regulator proposes changes to rules for third party administrators

    ...regulations governing the TPAs was issued by the IRDAI. These were revised in 2016. TPAs are primarily engaged in the business of servicing claims under health insurance policies by authori...

    Source : eDaily | 16 Jul 2019
  • India: IRDAI clarifies new regulations for motor insurance

    ...The Insurance Regulatory and Development Authority of India (IRDAI) has clarified that only new private cars and two-wheelers will be covered by new rules governing long-term third-party motor insurance, reported local publication Financial Express. While existing vehicles can continue to renew their policies on an annual basis, it will be compulsory for new private cars to go for three-year policies and for new two-wheelers to go for five-year policies....

    Source : eDaily | 15 Jul 2019
  • Nigeria: Insurance market sees premiums jump by 10% in 2018

    ...regulations on microinsurance, collaboration on financial inclusion bancassurance guidelines and others, which will impact positively on the business of insurance companies,” he added. <...

    Source : Africa | 15 Jul 2019
  • China: New rules unlikely to increase insurers' demand for trust products -- Fitch

    ...regulations for other purposes. Credit enhancements such as guarantees need to be arranged if the underlying assets of trust products are non-standard credit assets. The regulator also imposed limits...

    Source : eDaily | 15 Jul 2019
  • China: Government urged to ensure reduction of social insurance contributions

    ...With China expecting to cut down on the social insurance contributions from businesses by over CNY300bn ($44.6bn) this year, authorities have been urged to ensure the proper implementation of such measures according to a report from Xinhua News Agency citing a statement from a state council meeting earlier this week....

    Source : eDaily | 12 Jul 2019
  • China: Regulator releases some details of Anbang transfer

    ...Dajia Insurance Group will set up a property and casualty unit to take over part of the assets of financially-stricken Anbang Insurance, the CBIRC has said....

    Source : eDaily | 12 Jul 2019
  • Australia: Regulator will pursue all options to rectify failings in bancassurance

    ...A review by the Australian Securities & Investments Commission (ASIC) of the sale of consumer credit insurance (CCI) by 11 major banks and other lenders has found that the design and sale of such products has consistently failed consumers....

    Source : eDaily | 12 Jul 2019
  • India: Regulator grants insurance broking licence to FinTech start-up

    ...The Insurance Regulatory and Development Authority of India (IRDAI) has granted an insurance broking licence to Nearby Technologies, reported The FinTech will be operating its insurance broking services under the newly-created Nearby Insurance Broking Services division and launch a new brand called InsureNearby. As part of its launch strategy, the start-up has acquired We Care Insurance Broking Services....

    Source : eDaily | 10 Jul 2019
  • Bahrain: Insurance sector continues to thrive

    ...regulations and now has the highest level of takaful penetration in the Middle East, excluding Saudi Arabia. In its new report, titled “Bahrain’s Insurance Market’s Shine...

    Source : MiddleEast | 10 Jul 2019

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