Subject: Regulatory Page 38 / 93
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- March 19 2020
Firms urged to “move on” with IFRS 17 despite delay
KPMG's Erik Bleekrode predicts the next few years will "get even harder" after IASB acts.
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- March 3 2020
Consumer group lobbies against PE bids for Prudential Life Korea
MBK Partners, Hahn & Company and IMM Private Equity are in the running to acquire Prudential.
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- March 2 2020
1,500 workers engaged in improper sales at Japan Post
The company is undergoing an internal review and investigation at a cost of US$32m.
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- February 25 2020
Australia launches royal commission into bushfires
The move by the government follows an unprecedented summer.
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- February 24 2020
China’s regulator ends two-year Anbang takeover
The CBIRC took control of Anbang in February 2018 after its chairman was arrested.
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- February 21 2020
Singapore’s foreign players benefit from tax handout
(Re)insurers to enjoy five years of low taxes but some want further reforms.
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- February 19 2020
Philippines’ IC to issue cease & desist for capital non-compliance
Insurers need a minimum net worth of US$18m by February 28.
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- February 10 2020
China and HK’s life firms face headwinds amid growth
Premiums increased robustly in 2019 but valuations to be impacted by coronavirus and stockmarkets.
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- February 7 2020
Indonesia relaxes foreign ownership, steps up bailout
Capital injections easier as a holding company is set-up to allay market fears.
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- February 6 2020
8 insurers charged with violating Philippine Competition Act
Entities found to have entered into anti-competitive agreements to face fines.
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- February 3 2020
Australia targets add-on sales with more reforms
The shake-up in regulations continues.
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- January 29 2020
HKIA closes as city steps up precautions over coronavirus
Hong Kong's clampdown on travelers from China is also likely to impact the life market.
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- January 24 2020
Indonesia to address crisis with enhanced surveillance
A government bill will help regulators while the FSA itself is being investigated.
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- January 17 2020
China to lift foreign equity cap for all life players by April
US-China trade deal classifies life, health and pensions as separate sectors causing confusion.
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- January 16 2020
India approves 33 insurtech proposals under sandbox scheme
The country's regulator received over 170 proposals.
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- January 15 2020
India’s regulator disciplines brokers in US$42m fraud: report
Tata AIG reportedly forced to exit an Indian crop scheme after heavy losses.
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- January 14 2020
Another Indonesia state-owned insurer faces scandal
Asuransi Sosial Angkatan Bersenjata Republik Indonesia's (Asabri) stock portfolio took a 95% dive in 2019.
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- January 13 2020
Scandal-hit Indonesian insurer has US$2bn deficit
Jiwasraya is under investigation for financial misconduct worrying policyholders.
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- January 13 2020
Regaining public trust is priority: new Japan Post CEO
Hiroya Masuda said regaining public trust and investor confidence are priorities.
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- January 3 2020
China denies Shanghai-London Stock Connect suspension: update
The regulator has denied there has been a disruption to the link.
