Saudi Arabia's Central Bank (SAMA) has said a change has been observed in the financial sector's cyber threat landscape, with moves by Advance Persistence Threat "APT" groups targeting the financial sector.
The legal representatives or senior management of financial institutions, including insurers, will be held ultimately liable for the quality of statistical data submitted to the CBIRC, the regulatory agency has warned.
Insurance companies, banks or securities firms can be required to submit a certain amount of funds to support China's new Financial Stability Fund, based on their respective asset value, suggests Mr Liu Xiaochun, deputy head of the Shanghai Finance Institute.
The Financial Services Authority (OJK) has approved the establishment of a member representative body (BPA) for AJB Bumiputera 1912, one of Indonesia's oldest insurers, which has been struggling with insolvency for a number of years.
Vehicle owners will have to pay higher premiums for motor compulsory third-party liability (CTPL) insurance with effect from 1 June 2022, according to a regulation revised by the Insurance and Private Pension Regulation and Supervision Agency (SEDDK) which was published in the Official Gazette.
Bank Negara Malaysia (BNM), the central bank of the southeast Asian country, has published a policy document that sets out revised requirements to ensure alignment with Malaysian Financial Reporting Standard (MFRS) 17 "Insurance Contracts" and MFRS 9 "Financial Instruments".
The IRDAI is allowing general insurers to design new and customised products for fire and allied perils related to dwellings, micro and small enterprises, in its bid to increase insurance penetration and provide a wider choice to policyholders.
The CBIRC has expanded the investment scope of the insurance sector to include a wider array of financial products in order to enable the CNY23tn ($3.4tn) worth of insurance funds to better serve the economy.
The Financial Services Council of New Zealand (FSC) in its submission on the proposed New Zealand Income Insurance Scheme (NZIIS) has called for more time and wider industry engagement to ensure that the scheme is best placed to achieve its objectives.
VerifyMe Nigeria has launched a new service to verify the status of a vehicle licence in real-time, extending its portfolio beyond digital ID verification, biometrics, and consumer analytics.