Insurance Authority welcomes the China Banking and Insurance Regulatory Commission to regularise preferential treatment for the Hong Kong insurance industry The Insurance Authority (IA) has welcomed the China Banking and Insurance Regulatory Commission (CBIRC) to include the preferential treatment for Hong Kong insurance industry as an integral part of the...
Sompo Holdings,Inc, Sompo Japan Insurance Inc and Sompo Risk Management Inc have started a collaboration with Israeli start-up GeoX Innovations to develop an automated underwriting methodology utilising state-of-the-art AI technology. In recent years, large-scale natural disasters have become more frequent and severe, and the risk factors in disasters have become...
The Appointments Committee of the Cabinet has approved the appointment of Debasish Panda IAS, former secretary, Department of Financial Services to the post of chairperson, Insurance Regulatory and Development Authority of India, according to a press statement from the Ministry of Personnel, Public Grievances and Pensions and the Secretariat of...
The China Banking and Insurance Regulatory Commission recently issued the “Notice on Expanding the Pilot Scope of Exclusive Commercial Endowment Insurance” expanding the pilot area of exclusive commercial endowment insurance to the whole country and allowing pension insurance companies to participate in the pilot. Since the start of the pilot...
The Insurance Council of Australia (ICA) has called for a doubling of a federal fun in order to ensure resilience of homes, businesses and communities. The ICA’s policy platform for the coming federal election calls for all Australian governments to collectively lift funding to AUD2 billion over the next five years....
The Life Insurance Association of Malaysia (LIAM) recorded an overall stronger performance with a double-digit growth of 12.4 percent in its new business total premiums in 2021 as compared to 2020. For the financial year ended December 2021, the industry recorded MYR12.8 billion in new business total premiums from MYR11.4...
The credit impact of Indonesia’s temporary ban on coal exports for issuers is likely to be limited and the relaxing of restrictions suggests that the danger of an extended period of curbs is receding, Fitch Ratings has stated. Nonetheless, the potential remains for policy changes to have more substantial effects...
Thai Group Holdings (TGH) Plc has recently informed in a bourse filing that it had shut down its Southeast Insurance Co because of rising claims for Covid-19 insurance payouts. However, the company has confirmed payouts for customers and stakeholders. The TGH announcement said Southeast Insurance had THB1.8 billion worth of...
The Insurance Regulatory Development Authority of India, in a recent press release, has clarified that all the indemnity-based health insurance products that cover the treatment costs of hospitalisation offered by all general and health insurance companies will cover the costs of hospitalisation treatment on account of Covid -19. “In the...
Bank Negara Malaysia has issued a draft on Licensing Framework for Digital Insurers and Takaful Operators. The discussion paper outlines the proposed framework for licensing new digital insurers and takaful operators (DITOs) to encourage digital innovation in the insurance and takaful sector. DITOs are expected to contribute to a more...
