The RegTech grant scheme is available to Singapore-based FIs to help them enhance processes and capabilities in their risk management and compliance functions.
May 1, 2021Rather than conducting two separate reviews, the quality of advice review will also consider the Life Insurance Framework as part of its wider mandate.
May 1, 2021The framework was developed through collaboration between life insurers comprising 95 percent of the gross written premium in the retail life industry.
April 24, 2021The first phase of Veritas resulted in the development of a fairness assessment methodology based on the FEAT principles for two use cases.
January 7, 2021Banks engaged in insurance sales are expected to identify policy replacement at the point of sale and provide advice to customers on whether policy replacement is in their best interests.
October 23, 2020The new subsidiary will become the first wholly foreign-owned life insurance company approved for incorporation in mainland China.
June 22, 2020HSBC's insurance unit has entered into an agreement to buy the remaining 50% equity interest in its China joint venture - HSBC Life China.
May 5, 2020Among the new requirements introduced for insurers is an obligation to ensure that any charge or expense allocated to the Par Fund is "fair and reasonable".
February 7, 2020ASIC has observed improvements by a "significant number of trustees" as a result of the industry’s implementation of the Insurance in Superannuation Voluntary Code of Practice.
December 18, 2019The penalty will be in addition to the A$12mn CommInsure has said it will pay to 30,000 policyholders to remediate telephone sales conduct issues.
November 21, 2019