More than four in 10 employers in the region (41%) spend over 20% of payroll on benefits provision, according to Towers Watson's 2015 Asia Pacific Benefit Trends Survey.
Asia now accounts for up to 60% of all piracy incidents in the world with 145 reported cases.
To prevent unwarranted transfer of benefits and risks among related companies, CIRC will restrict related-party transaction for insurers.
Australia's troubled life insurance sector needs to come up with solutions to restore consumer trust in the industry urgently, or be prepared to face increased government intervention, Assistant Treasurer Josh Frydenberg has warned.
Representatives from the Chinese and Russian governments and insurance agencies met to discuss the possibility of Chinese companies reinsuring Russia's major infrastructure projects.
The government might be willing to make concessions to the insurance industry and tweak parts of its health care reform, allowing insurers to offer cheaper indemnity hospital insurance products that exclude coverage of pre-existing conditions, according to a report by the South China Morning Post which cited unnamed government sources.
IRDAI has brought out draft regulations for registration and operations of branch offices of foreign reinsurers, excluding Lloyd's.
Japan's Mitsui Sumitomo Insurance has announced plans to invest more than JPY40 billion (US$337 million) in overseas bonds and stocks, while continuing to pare down its exposure to the domestic stock market, news agency Reuters reported.
English football giant, Manchester United, has taken its partnership with Aon into the Pakistan market with a first in the region insurance affinity programme.
Korean Re announced in April that it had concluded the process of entering the Lloyd's market, in a move that reflects the company's commitment to increase its overseas business.
HIS Insurance Services has become a "Big 3" insurance broker in South Korea for the first time based on insurance brokerage statistics in 2014 after overtaking Willis Korea, said a company statement.
Customers in Singapore are now able to compare insurance products online and even purchase a select range of products directly from insurers without any intermediaries.
A.M. Best, a leading specialist credit rating agency covering the insurance and reinsurance industries, has established a new office in Singapore as part of its continuing growth in the Asia Pacific region.
Arthur J. Gallagher has announced a new practice line specialising in helping large corporate clients to define, document and mitigate reputation risk and brand damage.
AXA will now also be selling general insurance products at various post offices in Singapore, as part of its 10-year postassurance partnership with Singapore Post Limited - first signed in 2013 to distribute life policies at 34 post offices across the island.
The Insurance Board of Sri Lanka (IBSL) will be hosting the 10th Asian Forum of Insurance Regulators (AFIR) meeting in Colombo on 27-28 July 2015.
Discretionary investment policies, a type of investment-linked product where the buying and selling decisions for a client's account is made by a portfolio manager or investment counsellor commissioned by the life insurer issuing the policy, is gaining popularity in Taiwan.