The Nigerian Council of Registered Insurance Brokers (NCRIB) wants all officially approved residential properties in Nigeria to be insured, according to its president, Mr Babatunde Adeleke.
The Insurance and Social Security Supervisory Authority (ACAPS) has postponed its decision on the refund of premiums paid for travel insurance when applications for visas are rejected by European authorities.
The Monetary Authority of Singapore (MAS) has issued a circular providing further guidance to financial institutions (FIs) in the wealth management sector on the establishment of the sources of wealth (SOW) of their customers, including the risk principles that FIs should consider in the designing of their policies and procedures to establish SOW of their customers in a risk-proportionate and reasonable manner.
The Insurance Authority (IA) has invoked powers under the Insurance Ordinance (IO) to appoint managers to take full control of the affairs and property of Tahoe Life Insurance Company, the regulator said in a statement on 26 July 2024.
The majority of insurers have yet to take significant steps towards digitalisation, according to the findings of a survey by the Securities and Exchange Commission of Pakistan (SECP) on digitalisation in the insurance industry in the country.
The Unified Insurance Law, enacted earlier this month, allows the Financial Regulatory Authority (FRA) to license actuarial companies.
The Property and Casualty Insurance Department of the National Financial Regulatory Administration (NFRA) issued a notice directing insurers to carry out a self-examination of short-term health insurance business by 31 August 2024.
The five insurance asset management companies, that are the first insurance asset managers approved to pilot asset-backed securities (ABS) and REIT (real estate investment trust funds) businesses, have now all launched ABS on the stock exchange.
Insurance companies and banks are looking for more guidance from the industry regulator on bancassurance operations following the issuance of new regulations.
When it comes to capital optimisation, Aon strategy and technology group global CEO Sherif Zakhary said, each insurer would have "a different parameter for success".