On April 11, National Financial Regulatory Administration (NFRA) issued a notice to enhance insurance group consolidation supervision, aiming to ensure the steady operation of insurance groups and effectively prevent financial risks. The NFRA has revised the "Guidelines for Insurance Group Consolidation Supervision" previously issued by the former Insurance Regulatory Commission and released the 'Measures for the Supervision and Management of Insurance Group Consolidation'.
These are the updates on insurance regulation across China this week.
The International Association of Insurance Supervisors (IAIS) published its Application Paper on the supervision of climate-related risks in the insurance sector, following four consultations and extensive member and stakeholder engagement.
The first phase of the "E-Government/My Private Insurance" project has been completed successfully. The project involves setting up a platform to provide fast, easy and effective insurance access and transactions.
The Council for Cooperative Health Insurance, a government body, has unveiled a project to update the Unified Insurance Medicines Guide, which enables beneficiaries to access essential medicines and support them in disease management while ensuring patient safety and quality healthcare.
Brunei's insurance regulator, the Brunei Darussalam Central Bank (BDCB), has published the Business Sentiment Index (BSI) for February 2025. The index is based on surveys conducted on around 500 micro, small, medium and large businesses from 11 economic sectors in Brunei Darussalam, across all districts. Finance and insurance is one of these economic sectors.
The Insurance Commission (IC) has issued Circular Letter (CL) on the "Omnibus Guidelines on Investments", to enhance investment adaptability of insurers, reinsurers and mutual benefit associations (MBAs) to respond to the dynamic investment market environment.
Fitch Ratings has placed Al Sagr Cooperative Insurance Company's (Al Sagr) 'BBB' Insurer Financial Strength (IFS) and 'A+(sau)' National IFS Rating on 'Rating Watch Negative' (RWN).
Non-life insurance companies in Bangladesh have not been able to settle around 68% of the claims submitted in the year 2024. This has resulted in outstanding claims amounting to approximately BDT26,350m ($217m) by the end of the year.
The Japanese government has initiated a survey on public health insurance usage by foreign residents living in the country. Some lawmakers had raised concerns that people may come in from overseas to take advantage of the support for expensive medical treatment.