Following talks with reinsurers, Japanese insurers can continue offering marine war insurance to LNG carriers in Russian waters until March.
January 5, 2023Higher systemic risk scores are driven by increased exposures to illiquid and difficult-to-value assets, OTC derivatives, repo transactions and other factors.
December 20, 2022The UN-convened Net Zero Insurance Alliance has launched a public consultation outlining a recommended approach to target-setting and reporting.
November 8, 2022The Spanish reinsurer said the approval will allow it to increase its business operations in China, where it so far only has a representative office.
August 23, 2022Updated prudential standard sets limits on exposures to offshore reinsurers. If a life company exceeds these limits, additional capital would need to be held.
March 10, 2022Preferential treatment in place since 2018 has been extended to mainland insurers that issue catastrophe bonds in the Hong Kong market.
February 28, 2022The Sony Life Insurance employee allegedly embezzled $155mn while working on liquidating the reinsurer's assets after it closed.
December 10, 2021The issuance of catastrophe bonds in Hong Kong can help diversify Mainland insurers' losses from natural disasters and enhance the risk-sharing mechanism.
September 29, 2021Domestic insurers that provide catastrophe risk coverage currently reinsure their risks overseas. The new facility will enable insurers to pool risk and resources domestically.
March 1, 2021Local authorities will assume regulatory responsibilities over 64 property insurers, while the CBIRC will retain oversight for the 36 larger institutions.
July 27, 2020