The Nigerian Insurance Reform Bill, currently waiting for the president's assent, will create a compensation fund for victims of bankrupt insurance companies and a fund for uninsured road accident victims.
Further market consolidation is expected in the UAE insurance industry in 2025, says Fitch Ratings.
China's National Financial Regulatory Administration (NFRA) has issued a policy directive aimed at transforming the personal sales structure of the life insurance industry. The new framework, detailed in a notice released just recently, seeks to realign commission incentives, raise professional standards, and strengthen long-term service capabilities among life insurance agents. The move also supports the development of industry-wide product classification and agent tiering standards, to be led by the Insurance Association of China.
These are the updates on insurance regulation across China this week.
Themed 'Brokers 4.0: Getting Future Ready for the Next Decade', the 13th Asia Insurance Brokers' Summit kicked off in Jakarta, Indonesia, on 24 April 2025.
There is a critical need for the Ethiopian government to attach importance to the insurance industry, on a par with the attention given to banks and other financial institutions, senior executives of insurance companies have said. This is because the insurance market plays a vital role in supporting national projects and pushing economic growth.
The Nepalese government has set a target to increase the renewal of health insurance policies to 90% in the next five years to 2030.
In its role as the country's insurance regulator, Thailand's insurance regulator, the Office of Insurance Commission (OIC), is promoting motor coverage as a risk management tool to alleviate losses from road accidents, as well as promote safety and create sustainable security for the public.
There are a number of key issues arising from the impending increase in the Value-Added Tax (VAT) rate that will affect the majority of non-life policyholders, said the South African Insurance Association (SAIA) in a statement.
The Financial Services Authority (FSA) has launched the National Health Insurance Platform (Dhamani), a digital channel to regulate the Omani health insurance market and facilitate operations in the market.