Regulators Archives - InsuranceAsia News https://insuranceasianews.com/industry_segments/regulators/ Mon, 05 Jan 2026 07:42:26 +0000 en-US hourly 1 https://wordpress.org/?v=6.8.2 Indian regulator fines Reliance General Insurance US$111,000 for violating outsourcing, commission rules https://insuranceasianews.com/indian-regulator-fines-reliance-general-insurance-us111000-for-violating-outsourcing-commission-rules/ Thu, 01 Jan 2026 09:25:21 +0000 https://insuranceasianews.com/?p=207831 Insurance Regulatory and Development Authority of India penalised the insurer after a remote inspection uncovered improper payments, governance lapses and the use of an external agent without adequate justification.

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The Insurance Regulatory and Development Authority of India (IRDAI) has imposed a US$111,000 penalty on Reliance General Insurance after determining it breached multiple regulatory requirements.
The b...

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]]> Hong Kong seeks to ‘enhance competitiveness’ of risk-based capital regime: IA https://insuranceasianews.com/hong-kong-seeks-to-enhance-competitiveness-of-risk-based-capital-regime-ia/ Tue, 23 Dec 2025 04:49:00 +0000 https://insuranceasianews.com/?p=207569 Reports this week said the Hong Kong Insurance Authority was proposing new rules to channel insurance capital into assets, including cryptocurrencies and infrastructure.

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Capital incentives for eligible infrastructure investments and capital treatment proposals for stablecoins and crypto assets are under consideration as part of a risk-based capital regime review by th...

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]]> SK Telecom facing US$1.5bn compensation payout following cyber breach: reports https://insuranceasianews.com/sk-telecom-facing-us1-5bn-compensation-payout-following-cyber-breach-reports/ Mon, 22 Dec 2025 04:46:36 +0000 https://insuranceasianews.com/?p=207530 South Korea's largest mobile network operator suffered the data breach in April, which impacted its 23 million users.

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South Korea's largest mobile network operator, SK Telecom, is facing a potential compensation payout of KRW2.3 trillion (US$1.5 billion) after being ordered by regulators to compensate all of its cust...

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]]> Wang Fuk Court fire insurance payouts exceed US$33m: HKIA https://insuranceasianews.com/wang-fuk-court-fire-insurance-payouts-top-us33m-hkia/ Sun, 21 Dec 2025 23:29:59 +0000 https://insuranceasianews.com/?p=207488 General insurers have processed 1,038 clams with total payout of around US$26m in the three weeks since the fire, the regulator said.

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In the three weeks since the fire at Wang Fuk Court in Tai Po, total insurance payouts by insurers have exceeded HK$257 million (US$33 million), according to the Hong Kong Insurance Authority (HKIA).
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]]> IFRS 17 timeline ‘question mark’ remains for India, Aon says https://insuranceasianews.com/ifrs-17-timeline-question-mark-remains-for-india-aon-says/ Fri, 19 Dec 2025 07:00:05 +0000 https://insuranceasianews.com/?p=206664 Anthony Atkins, APAC head of actuarial, says the Indian market has been 'quite slow in terms of its IFRS journey', with the deadline reported to have been extended until FY27.

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Uncertainty still remains as to when the burgeoning Indian insurance market will get up to speed with implementation of the IFRS 17 accounting standards, despite considerable regulatory pressure, acco...

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]]> Discount rate cut lowers capital pressures on South Korean non-life insurers: AM Best https://insuranceasianews.com/discount-rate-cut-lowers-capital-pressures-on-south-korean-non-life-insurers-am-best/ Wed, 17 Dec 2025 05:04:30 +0000 https://insuranceasianews.com/?p=207144 Rating agency expects strengthening of supervision on asset-liability management will enhance the industry’s stability and resilience.

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South Korea's plan to slow down the implementation pace of the discount rate cuts is expected to ease domestic non-life insurers’ burden on securing their regulatory solvency positions, said AM Best.
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]]> Bondi Beach attack declared terrorism incident, Australia’s Terrorism Reinsurance Pool activated https://insuranceasianews.com/bondi-beach-attack-declared-terrorism-incident-activates-australias-terrorism-reinsurance-pool/ Tue, 16 Dec 2025 06:05:14 +0000 https://insuranceasianews.com/?p=207026 Insurance Council of Australia also declares Sunday's incident as a 'significant event'.

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Australia's Terrorism Reinsurance Pool has been activated for just the second time after Sunday’s mass shooting at Bondi Beach was designated as a declared terrorism incident under the Terrorism Insur...

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]]> ARPC asks to be notified of potential terrorism pool claims from Bondi shooting https://insuranceasianews.com/arpc-asks-to-be-notified-of-potential-terrorism-pool-claims-from-bondi-shooting/ Mon, 15 Dec 2025 07:08:41 +0000 https://insuranceasianews.com/?p=206920 Government-backed terrorism pool will only take effect once the minister declares a terrorist incident. 

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The Australian Reinsurance Pool Corporation (ARPC), which manages the Terrorism Reinsurance Pool, has asked to be notified "of any potential claims and losses" following Sunday's mass shooting at Bond...

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]]> Vietnam reduces requirements for insurance market entry https://insuranceasianews.com/vietnam-reduces-requirements-for-insurance-market-entry-aim-full-rbc-application-from-2031/ Sun, 14 Dec 2025 22:15:57 +0000 https://insuranceasianews.com/?p=206834 Move is part of an effort by Vietnam to reduce administrative burdens on local insurers, according to a press release by reinsurer Hanoi Re.

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Vietnam has given the nod for the removal and simplification of many ex-ante regulatory requirements for (re)insurers and market participants, as part of its newly amended law for insurance business.
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]]> Manulife successfully completes re-domiciliation from Bermuda to Hong Kong https://insuranceasianews.com/manulife-successfully-completes-re-domiciliation-from-bermuda-to-hong-kong/ Fri, 12 Dec 2025 09:53:26 +0000 https://insuranceasianews.com/?p=206770 Insurer was the second after French rival AXA’s Hong Kong and Macau arm to apply for the new company re-domiciliation regime after it was introduced in May.

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Manulife (International) has successfully completed its re-domiciliation from Bermuda to Hong Kong under the government’s company re-domiciliation regime, becoming the first insurer to achieve this mi...

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