National Financial Regulatory Administration director Li Yunze told local media that since 2024 life insurers have reduced costs by CNY350bn($48.9bn), while the comprehensive expense ratio of property insurers has fallen to its lowest level in nearly a decade and expense ratios have hit a 20-year low.
These are the updates on insurance regulatory developments in China.
Capital flight of about $2bn takes place in Nigeria each year as multinationals purchase health insurance for their employees from international insurers, according to the National Insurance Commission (NAICOM).
The Capital Market Authority has approved the proposed capital increase of Mediterranean and Gulf Cooperative Insurance and Reinsurance Company (MedGulf) by 31.58% to SAR1.38bn ($368m) from SAR1.05bn, the insurers disclosed in separate statements lodged with the Saudi Exchange.
The insurance regulator of Thailand, the Office of the Insurance Commission (OIC), met with representatives from the Bank of Thailand to discuss legal proceedings against individuals or companies not permitted to conduct business, which will be applied to cases where the perpetrators are unauthorised banks.
Several players in the insurance ecosystem are working on improving the regulation of microinsurance in the CIMA (Inter-African Conference on Insurance Markets) zone to establish a more favourable framework conducive to the development of an inclusive insurance market.
The government's decision to altogether remove goods and services (GST) tax on health and life insurance premiums has come into effect from 22 September 2025 and is expected to reduce insurance premiums substantially and increase insurance penetration.
The Australian Reinsurance Pool Corporation (ARPC) has published revised premium rates for the Cyclone Reinsurance Pool (cyclone pool). The new premium rates (premium rates v4.0) will be effective from 1 April 2026 and will replace premium rates v3.0 (effective since 1 April 2025).
The government has doubled the maximum deposit insurance payout to KRW100m ($71,400) from 1 September 2025, against the KRW50m limit set in 2001.
The Financial Regulatory Authority (FRA) announced in a statement last week that it had launched a comprehensive training strategy for the insurance sector to build future leaders, in cooperation with Egyptian insurance companies and a number of international universities and institutes.