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Aug 2024

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Asian

Australia: Super funds show only incremental progress in measuring retirement income strategies

The Australian Prudential Regulation Authority (APRA) and the Australian Securities and Investments Commission (ASIC) are calling on superannuation trustees to boost efforts to track and measure the impact of their strategies to improve retirement outcomes for members.
 


China: Floods lead to insurance claims exceeding $335m

Insurance companies in China in eight regions have received a total of 81,300 claims arising from the current major flood season.
 


India: Insurers call for tax changes to increase market penetration

Insurers are lobbying for more tax incentives from the government ahead of the delivery of the 2024 Budget, scheduled to be read on 23 July 2024. The insurers want to increase the appeal and affordability of insurance offerings through tax incentives.
 


Singapore Reinsurers' Association elects new EXCO, unveils new logo and website

The Singapore Reinsurers’ Association (SRA) has announced its new executive committee line-up for 2024-2025 as well as its new logo and website.
 


Singapore: Private health insurers in 'race to the bottom'

Private insurers in Singapore are engaged in a race to the bottom as they are offering very attractive terms to encourage sign-ups and win market share, Singapore minister for health Ong Ye Kung said.
 


Taiwan: Fourth phase of localisation and transitional measures for ICS adoption

The Financial Supervisory Commission (FSC) will introduce an additional phase of localisation and transitional measures in the adoption process of TW-ICS (Insurance Capital Standard), to facilitate insurers’ smooth integration of the TW-ICS that is to be implemented with effect from 2026.