Industry Segments: Regulatory Page 16 / 91
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- March 16 2023
ICA calls for 10-year disaster funding over worsening extreme weather
The insurer body wants the government to extend the US$133m per year programme into a rolling scheme.
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- March 16 2023
PetSure gets general insurance licence in Australia
The pet health company already had an underwriting agency which provides pet cover.
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- March 14 2023
Government may inject funds into 3 Indian state-owned general insurers: report
United India Insurance, Oriental Insurance and National Insurance are facing a US$485m shortfall in capital to meet solvency requirements.
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- March 14 2023
Sedgwick names Kate Johnstone head of risk in Australia
Johnstone has over 25 years of insurance experience including managing risk and compliance operations.
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- March 14 2023
Asian insurers lag global peers as IFRS 17 kicks in
With traditional accounting measures such as GWP and NWP being phased out, there are numerous reporting challenges to overcome.
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- March 10 2023
Hong Kong 2022 P&C underwriting profit doubles to US$535m
While gross premiums grew 4.5% year-on-year, claims fell by the same percentage during the year, according to the Hong Kong Insurance Authority.
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- February 27 2023
Philippine regulator’s cat rate hike legally vulnerable: report
The Anti-Red Tape Authority has pointed out that the now-deferred insurance premium increase did not go through a mandatory regulatory impact assessment.
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- February 23 2023
Hong Kong’s budget extends ILS and talent training schemes
The Insurance Authority and HKFI welcomed the moves, as the government cut SME taxes, provided consumption vouchers and explores ways to re-domicile firms to the SAR.
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- February 20 2023
General takaful outpaces conventional market in Malaysia: report
Islamic insurance grew 10.3% between 2017 and 2021 while the broader P&C market grew only 0.6% in the same period.
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- February 20 2023
Premiums for Indian fertiliser pool for Russia, Belarus imports at US$2.4m
The US$60m reinsurance pool administered by GIC Re provides has not received any claims yet.
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- February 13 2023
Bangladesh reinsurance policies at risk of lapsing due to dollar shortage: report
Several cedents have been unable to pay premiums over many months due to restrictions on foreign currency remittance from the country.
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- February 3 2023
India budget snub a wake up call for United India, Oriental and National
Market experts suggest the decision not to allocate any more capital is part of a plan to merge the P&C players with LIC.
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- February 1 2023
India’s Digit Insurance US$440m IPO blocked by regulator: report
The insurer was last valued at US$3.5bn by Sequoia Capital and is backed by investors including Canadian billionaire Prem Watsa.
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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.
