China's insurance regulator has announced that it would tighten scrutiny over the launch of new insurance companies, in a move to defuse risks in the sector.
Malaysia's central bank has asked foreign insurers to raise the proportion of local shareholdings in their companies to at least 30%, under an initiative to lift domestic participation in the industry, reported Reuters.
The Insurance Authority (IA) today replaces the Office of the Commissioner of Insurance (OCI), a government department, to regulate insurance companies.
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