These are the updates on insurance regulatory developments in China.
The Australian Securities and Investments Commission (ASIC) has warned the public to stay away from pushy sales tactics that recommend quick superannuation switches.
As the adoption of artificial intelligence (AI) systems accelerates globally, the International Association of Insurance Supervisors (IAIS) released on 2 July the final version of an application paper on supervision in this field to support the insurance industry. The association says in the paper that no new standards are proposed at this stage.
At a public outreach seminar conducted in Takeo province, titled 'Procedures for Receiving and Resolving Insurance Complaints', Insurance Regulator of Cambodia (IRC) director general Bou Chanphirou highlighted the growth and strengthening of Cambodia's insurance sector, according to news platform the Khmer Times.
At the 2025 Arbitration Seminar at Centara Grand Central Plaza Ladprao, Bangkok, Office of Insurance Commission secretary-general Chuchat Pramulphon emphasised that alternative dispute resolution by arbitration is an important mechanism to protect the rights of insured persons without having to bring a case to court. This helps in quick, economic and appropriate dispute resolution in the context of insurance contracts.
The Ghana Revenue Authority (GRA) has implemented a 15% Value Added Tax (VAT) on non-life insurance premiums, starting on 1 July 2025.
The Moroccan insurance sector is entering the second half of 2025 with very favourable momentum, despite the significant disruptions affecting the global economy, according to the Moroccan Insurance Federation (FMA).
Saudi Reinsurance Company (Saudi Re) has signed a contract with The Company for Cooperative Insurance (Tawuniya), to reinsure the compulsory Inherent Defects Insurance (IDI) pool.
Oman's insurance regulatory and supervisory framework is assessed as having a good level of observance of the Insurance Core Principles (ICPs). A majority of the ICPs are assessed as either 'Observed' or 'Largely Observed', said the International Association of Insurance Supervisors (IAIS).
Chinese regulators are tightening oversight of the participating life insurance market, warning insurers against arbitrarily inflating dividend levels in what has been described as 'involution-style' competition(also known as 'neijuan' in Chinese).