Industry Segments: Legal/Regulatory Page 10 / 84
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- January 30 2023
India government likely to put on hold insurance law amendments: report
The bill looks unlikely to be presented at the upcoming budget session after demands from insurers for changes.
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- January 26 2023
NSW regulator fines two Suncorp brands over review timelines
SIRA fines arise from breaches of AAMI and GIO’s internal review timeframes from April 1, 2018 to August 31, 2020.
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- January 20 2023
IRDAI’s solvency exemption for United India bonds could trigger more redemptions
The regulator has allowed the insurer to exercise a call option despite not meeting the minimum solvency ratio.
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- January 18 2023
CBIRC’s new motor pricing regime may strain small insurers’ profitability: Moody’s
The regulator hiked the floating range of the independent pricing coefficient of commercial motor insurance to 0.5 - 1.5.
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- January 16 2023
Singapore legal reform puts claims settlements on the fast track
An obligation to consider amicable resolution incentivises pre-trial settlement over courtroom brawling.
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- January 13 2023
India’s LIC could eye health market entry following composite license talks
The state owned insurer's chairman said that 'health insurance fits well into their scheme of things'.
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- January 9 2023
LIC India may enter non-life market: report
Recent regulator's proposal to issue composite licenses may drive general insurance move.
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- January 5 2023
Sompo Holdings sued for US$750m damages over Van Gogh painting
Sompo bought the painting for US$40m in 1987 at a Christie’s London auction.
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- January 5 2023
APAC insurers still playing IFRS 17 catch-up
Companies need to carefully evaluate the implementation choices as it will have a lasting impact on shareholders’ equity and revenues.
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- January 4 2023
IRDAI allows auto-renewal of file reference numbers of foreign reinsurers
The change applies to cross-border carriers with credit rating not less than S&P's A- or equivalent.
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- January 3 2023
Composite licenses regime could drive insurance M&A in India
The new rule will encourage more tie-ups in the industry, allow standardisation of policies and introduction of customer-centric strategies.
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- December 29 2022
Philippines regulator sets aside cat premium hikes
The Insurance Commission has suspended the revised schedule of minimum catastrophe rates that took effect from November 1.
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- December 20 2022
NSW Supreme Court rules in favour of JLT in local government dispute
The Richmond Valley Council began the action on behalf of 12 NSW councils in December 2018.
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- December 15 2022
Asia’s digital path needs hybrid approach
As insurers step up investment and regulators develop initiatives, the digital-only model has yet to lead to better margins.
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- December 8 2022
Chubb acquisition positive for Huatai P&C: Fitch
Chubb has been handed regulatory approval to acquire 83.2% of the business.
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- December 7 2022
Korea’s new capital standard to kick in from next year: report
The new capital regime, together with IFRS 17, is likely to squeeze insurers' capital buffers.
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- December 6 2022
HKIA’s roadmap to help build regional connectivity and mobilise private capital
Tech, talent and data are the enablers of sector growth, according to Hong Kong's secretary for financial services and treasury.
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- December 2 2022
IRDAI’s liberalisation agenda raises risk of insurer failures
Wide-ranging reforms will ease the path to markets, but excess capacity could also lead to greater competition.
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- November 30 2022
SMBC Aviation starts litigation against 11 insurers over jets in Russia
The Japanese lessor, which had recognised a US$1.6bn impairment this year, has filed a suit in the Irish High Court seeking claims for its 34 planes.
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- November 29 2022
Indian agri insurance start-up Kshema gets regulatory nod
The digital rural insurer is the first to get a carrier licence in five years; IRDAI said there are 18 applications in the pipeline.
