Industry Segments: Regulators Page 1 / 2
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- May 22 2025
Philippines’ insurance penetration grows to 1.89% in Q1 2025: IC
The Insurance Commission attributed the improvement to the faster premium growth, with the non-life NWP rising 19.3% to US$365m, mostly supported by the motor and fire lines.
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- May 22 2025
Australian competition watchdog clears IAG’s RACQ acquisition
ACCC said Suncorp, Allianz and QBE, and newer entrants such as Youi, Auto & General, and Hollard will continue to compete in Queensland.
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- May 21 2025
‘One-in-500-year’: ICA declares NSW flooding a significant event
Event may be escalated to an insurance catastrophe if there is a significant increase in claim numbers or complexity, the Insurance Council of Australia (ICA) says.
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- May 20 2025
Opinion: Without a captain of the ship, are India’s insurance reforms in danger of being blown off course?
As the sector enters a 'seminal period of transformation', the Insurance Regulatory and Development Authority (IRDAI) has been without a chairman for over two months after Debasish Panda completed his three-year term in March.
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- May 16 2025
India’s reforms on hold as IRDAI seeks new chairman: report
Debasish Panda completed his three-year term as chairman of the Insurance Regulatory & Development Authority of India (IRDAI) on March 13.
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- May 15 2025
South Korean insurers see steep solvency decline amid rising liabilities: reports
Insurance Financial Solvency Ratio for non-life insurers dropped by 16% percentage points quarter on quarter to 211%.
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- May 13 2025
APRA authorises IAG-backed CGU Australia as new general insurer
IAG had announced it will restructure CGU and WFI Insurance brands by centralising specialist expertise.
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- May 9 2025
India to revive plan to merge 4 general insurers: report
Merger would create a non-life carrier with the highest market share in India and help the government’s mission of 'insurance for all' by 2047.
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- May 8 2025
Taiwan’s FSC revises digital insurer regulation to boost innovation, reduces capital requirement to US$16.5m
Key changes include allowing physical service locations and permitting foreign digital carriers to apply for a licence.
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- May 7 2025
Korean non-life carriers’ overseas branches see net income surge to US$95m
Increase attributed to base effect of natural catastrophes in 2023, including Typhoon Mawar in Guam and a wildfire in Hawaii.
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- May 6 2025
Stress test shows Kiwi insurers can meet claims in NZ$100bn earthquake scenario
New Zealand's central bank assessed the responses to a major earthquake and severe cyber-risk incidents by simulating an event well beyond insurers’ solvency requirements, modelled to cost around US$60bn.
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- May 2 2025
HSBC gets greenlight to establish captive insurer in Hong Kong
Wayfoong (Asia) Limited, which has received authorisation from the Insurance Authority, is the first captive carrier established by a multinational enterprise based in the city.
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- April 24 2025
IRDAI chairman race heats up as frontrunners emerge: report
Insurance Regulatory and Development Authority of India (IRDAI) post has been vacant since Debasish Panda completed his three-year term in March.
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- March 14 2025
‘Milestone’ with Fairfax-backed Valueattics Reinsurance set to become India’s first private reinsurer
Backed by Go Digit founder Kamesh Goyal’s Oben Ventures LLP and FAL Corporation, a subsidiary of Indian-born Canadian billionaire Prem Watsa’s Fairfax Financial Holdings, company will begin operations with paid-up capital of US$23m.
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- March 13 2025
Korean regulator to relax insurers’ capital adequacy requirement to 130-140%: report
The move will help lower financial burden for insurers, apart from raising their capital base.
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- March 12 2025
Philippines extends PFRS 17 deadline until January 2027
Last year, the Insurance Commission mandated adoption of a new accounting standard - which aligns with the International Financial Reporting Standard 17 (IFRS 17) - by January 1, 2025.
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- March 10 2025
Search begins for new IRDAI chief: report
Debasish Panda’s three-year term as chairperson is due to end on March 13, 2025, although applications are being accepted until April 6.
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- March 4 2025
Japan’s FSA to investigate life carriers’ reinsurance deals with global funds: report
Regulator is concerned about the concentration of reinsurers operating in Bermuda as the trend gains momentum ahead of a new solvency regime being introduced on April 1.
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- February 28 2025
Australia motor body ‘strongly opposes’, calls for watchdog to reject IAG-RACQ, Allianz-RAAI deals
Australian Competition and Consumer Commission (ACCC) had initiated an investigation into the deals in February.
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- February 26 2025
‘A big idea to confront a big problem’: Insurance Council of Australia calls for US$19bn flood defence fund
Fund is the centrepiece of the ICA's Advancing Australia’s Resilience policy document, which provides recommendations for the next federal government.
