Kuwait's Insurance Regulatory Unit (IRU) directed that insurance and reinsurance companies operating in the country obtain a credit rating from an accredited international agency that meets the prescribed minimum standards.
Korean insurers are expected to recalibrate their capital strategies to focus on accumulating sustainable core capital in the wake of an announcement by the Financial Services Commission and Financial Supervisory Service about new capital ratio requirements that are to be implemented on 1 January 2027. Otherwise, the insurers may face binding constraints and regulatory intervention.
Korea's Financial Services Commission and Financial Supervisory Service have announced that, starting 1 January 2027, the core capital K-ICS ratio will be mandatory for all insurers under the Korea Insurance Capital Standards (K-ICS).
China's employee medical insurance personal account system has made a formal transition to a new nationwide family scheme, under which funds in personal medical insurance accounts can be used directly across provinces for relatives' medical treatment, medication expenses and insurance contributions.
China yesterday released guidelines to make its enterprise annuity system more inclusive, flexible and convenient, by broadening access to more workers.
The Financial Regulatory Authority (FRA) has issued a decision regulating the mechanisms and conditions for settling claims by the Egyptian Compulsory Insurance Association for Civil Liability Arising from Motor Vehicle Accidents (Compulsory Motor Insurance Consortium/Pool). The move is aimed at simplifying procedures and ensuring that those affected and their families quickly obtain their insurance rights.
The implications for the life insurance sector could be profound when a proposal by the Financial Supervisory Commission (FSC) to amend foreign exchange accounting rules is finalised.
The government is undertaking public consultations on a proposed Road Accident Fund (RAF) Bill. The objective is to provide timely medical care to accident victims, cover funeral expenses and offer compensation to the injured and families of the deceased.
The government has been urged to review its tax policy for insurance agents, which is said to have created legal uncertainty.
The Financial Services Authority (OJK) has announced that 115 out of 144 insurance companies (around 80%) in the country have met the 2026 capital requirements.