The CBIRC has drafted a five-year plan for life insurance that among other things would raise the upper age limit for insurance coverage so as to meet the protection needs of senior citizens older than 70.
The Australian Prudential Regulation Authority (APRA) is proposing revisions to a prudential standard to counter the potential risk from life insurers' increased use of offshore reinsurers, and to improve clarity on key definitions.
Egypt's long-awaited new insurance law is expected to be adopted this year, according to Dr Muhammad Omran, chairman of the Financial Regulatory Authority (FRA).
Oman's financial regulator is considering drafting new rules to regulate insurance companies' investments to help the sector counter the impact of the COVID-19 pandemic, Mr Ahmed Al-Mamari, vice president with the insurance sector at the Capital Market Authority in Oman, has revealed.
Negative discount rates are not expected to be a significant issue for the liabilities of general insurers, says the Actuaries Institute furnishing a general insurance (GI) specific response to a discussion paper issued by the Australian Prudential Regulation Authority (APRA).
A complete digital transformation of the insurance sector is unlikely at present, even though the COVID-19 pandemic has accelerated digitalisation in the sector.
The Supreme Court has ruled that insurers are to use the "National Mortality Table", also called the TRH-2010 mortality table, which was drawn up by actuaries, instead of the mortality tables created for France in 1931.
Uganda's Parliament has passed the long-awaited National Health Insurance Scheme (NHIS) Bill, which seeks to provide universal healthcare to all citizens.
The Namibia Financial Institutions Supervisory Authority (Namfisa) says that it has halted its investigation into a multimillion-dollar insurance dispute between Gondwana Collection and Hollard Insurance Namibia because the case is now before the High Court.
More measures promoting inclusive insurance will be introduced in the next amendment to the Insurance Code, according to Mr Mohamed Benchaaboun, Minister of Economy and Finance at the 7th Casablanca Insurance Rendezvous organised by the Moroccan Federation of Insurance and Reinsurance Companies (FMSAR).