Insurance Authority to Commence Direct Regulation Over Insurance Intermediaries on 23 September 2019 May 14, 2019 The Government has appointed 23 September 2019 as the date on which the Insurance Authority (IA) will take over from the three Self-Regulatory Organizations (SROs)1 and be responsible for all aspects of the regulation of insurance intermediaries in …
Protection Products Drive Value September 20, 2019 The US Federal Reserve cut interest rates this week as concerns about a global recession continue to grow. The move was widely expected but will put even more pressure on life insurers’ guaranteed savings products. With large legacy books to manage and weakening growth, companies …
Myanmar Gives Green Light To 11 Foreign Players November 29, 2019 Myanmar’s Ministry of Planning and Finance (MOPF) on November 28, issued licences to major foreign insurers including UK’s Prudential, US-headquartered Chubb, Hong Kong’s AIA, Japan’s Dai-ichi Life and Canadian firm Manulife. The government had already granted provisional licences to the aforementioned firms in …
Asia-Pacific Will be Responsible for 42% of Global Insurance Premiums by 2029 September 18, 2019 Global insurance premium volumes reached a new benchmark high of US$5 trillion in 2018, according to the Swiss Re Institute’s report, World Insurance: The Great Pivot East Continues, but that doesn’t mean all is well for insurance sectors in every part …
Myanmar Urged to Develop Microinsurance for the Poor Theint Mon Soe/The Myanmar Times September 10, 2019 Insurance services in Myanmar need to reach out beyond the existing clientele to support households with lower incomes to manage their insurable risks, participants at an industry workshop said. UK-funded DaNa Facility and the USAID’s Private Sector …
Myanmar Opens Insurance Market to Prudential, Dai-ichi and Others Nuns walk past the IKBZ Insurance building in downtown Yangon in June 2013. Myanmar’s insurance market is small but is forecast to balloon in the next decade. © Reuters April 06, 2019 YANGON — Myanmar’s government on Friday provisionally authorized five multinational insurance companies, including U.K.-based Prudential and …
Hong Kong’s IA Publishes Broker Registry September 23, 2019 As part of the new regulatory regime for broker intermediaries the Insurance Authority has published a register for brokers, agents and technical representatives. The register is maintained by the Insurance Authority to provide information on a licensed insurance intermediary or a responsible officer in matters …