Industry Segments: Legal/Regulatory Page 43 / 89
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- July 31 2018
China Life fined US$103K for disclosure issues
China's central bank found the company guilty of disclosure-related issues.
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- July 30 2018
Cheung to replace Leung at Hong Kong’s Insurance Authority
John Leung to end CEO role in the middle of August.
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- July 30 2018
Indonesia postpones coal, crude oil export rule
The trade ministry has deferred a new rule that requires export shipments to use Indonesian insurance.
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- July 26 2018
Asia’s insurance market remains rules-based
Regulators are increasingly looking at customer protection and meeting policyholders' reasonable expectations.
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- July 20 2018
Indian merger in question
The timetable for the landmark merger of three state-owned Indian non-life insurers is in doubt.
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- July 18 2018
Chinese insurers covered US$467tr in Jan-May period
However, CBIRC data showed that the sector's premium income fell 5.86% year on year.
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- July 13 2018
Bull in a China shop
Insurance and other financial services are among the industries that Donald Trump’s bullying trade war could force China to open.
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- July 12 2018
Foreign reinsurers waiting on changes to India’s rules
State-owned GIC Re continues to enjoy right of first refusal for domestic reinsurance business.
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- July 11 2018
China changes rules on director appointments
Under the changes, major shareholders of an insurance firm can no longer nominate independent directors.
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- July 3 2018
CBIRC publishes foreign-ownership rules
The rules allow foreign insurers and loss adjusters to operate on a level footing with domestic companies.
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- July 2 2018
Foreign divestments in Malaysia at advanced stage
Foreign insurance companies technically had until June 30 to comply with the foreign ownership cap.
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- June 18 2018
Ex-CIRC head Xiang Junbo pleads guilty to bribery
The former chairman of China’s insurance regulatory body expressed remorse in his closing statement.
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- June 14 2018
Malaysia to further review ownership rules for foreign insurers
The review may result in the country's central bank deferring the requirement to cut ownership to 70%.
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- June 13 2018
Markel wins Lloyd’s India licence
It will initially focus on treaty and facultative reinsurance for marine, energy, contingency and professional and financial risks
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- June 4 2018
Hong Kong’s Insurance Authority closes in on new CEO
Clement Cheung, a former Commissioner of Insurance in the city, is expected to be named to the post.
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- June 1 2018
Majority foreign ownership in Chinese insurance ventures likely
The change for life insurance JVs is proposed in the latest draft regulatory amendments under consideration.
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- May 31 2018
Ex-Anbang Insurance chairman appeals conviction
Wu Xiaohui has reportedly appealed his conviction of embezzling about US$12 billion in funds.
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- May 30 2018
China imposes US$9.8m fines on insurers
Violations that incurred penalties included irregularities such as misleading sales pitches and fake materials.
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- May 24 2018
Indonesia affirms 80% ownership cap on foreign insurers
Overseas insurers that control more than the cap will be allowed to continue to operate.
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- May 24 2018
Korean life insurers see net profits fall
Dwindling sales of savings-type products and weaker investment returns are reducing income.
