Wednesday, December 13, 2017

Legal/Regulatory

Thailand’s actuaries association seeks role in drafting insurance laws

Thailand’s actuaries association seeks role in drafting insurance laws

Group seeks to participate in drafting organic laws where it is directly affected.

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Singapore prepares to roll out compulsory health insurance scheme

Singapore prepares to roll out compulsory health insurance scheme

Ministry of Health initiative gathers pace with household check exercise.

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Swiss Re becomes first Swiss firm to obtain China’s RQFII licence

RQFII programme allows the reinsurer to gain access to the Chinese financial market.

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Bangladesh regulator suspends Standard Insurance

Bangladesh regulator suspends Standard Insurance

Suspension follows failure to reinsure BDT463.3m (US$5.98m) worth of its policies.

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Fosun to buy Israeli insurer Phoenix for US$471m

Fosun to buy Israeli insurer Phoenix for US$471m

Phoenix Holdings owner, still has the option to cancel the deal if not closed after five months.

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Vietnam’s non-life industry faces shortage of qualified actuaries

Vietnam’s non-life industry faces shortage of qualified actuaries

Only one actuary in Vietnam said meets the national standards.

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Changes sought for Japan Post Insurance Co, ahead of planned IPO

Changes sought for Japan Post Insurance Co, ahead of planned IPO

Lawmakers looking to raise the maximum amount of insurance coverage at JPI.

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UN chief urges insurance industry to ease disaster-related financial burden

UN chief urges insurance industry to ease disaster-related financial burden

Industry must play a strong leadership role in UN initiatives, says Ban Ki-moon.

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India plans higher solvency requirement for health insurance players

India plans higher solvency requirement for health insurance players

Plans to raise the solvency margin to up to 200% for group health.

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China’s business vehicle insurance programme to go nationwide by 2016

China’s business vehicle insurance programme to go nationwide by 2016

The programme seeks to encourage safe driving in the country.

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South Korea offers MERS insurance for visitors

South Korea offers MERS insurance for visitors

Free coverage aimed at relieving concerns over the MERS outbreak in Korea.

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Hong Kong official calls for establishment of insurance authority

Hong Kong official calls for establishment of insurance authority

Statutory licensing regime for insurance salesmen also called for.

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Myanmar insurers to start selling health insurance

Myanmar insurers to start selling health insurance

Policies will be sold under a one-year trial commencing 1 July.

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Philippine lawmakers urged to pass national flood insurance bill

Philippine lawmakers urged to pass national flood insurance bill

Bill aims to augment state-funded disaster assistance.

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Insurance payout for Yangtze accident to hit US$14.8m

Insurance payout for Yangtze accident to hit US$14.8m

Payout involves 340 contracts underwritten for parties involved with the incident.

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Anbang Insurance’s US$1bn acquisition of Tong Yang Life approved

Anbang Insurance’s US$1bn acquisition of Tong Yang Life approved

Approval issued despite concerns over reciprocity.

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Philippine court stops paid-up capital rate hike order for insurers

Philippine court stops paid-up capital rate hike order for insurers

An adverse effect on the business climate is sufficient basis for an injunction, The Court of Appeals.

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China’s private hospitals to be eligible for reimbursement

China’s private hospitals to be eligible for reimbursement

Threshold for private healthcare providers also to be lowered.

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