COVID-19 has turned into a global crisis on the healthcare, economic and social fronts. More than a million lives have been lost, and the world is facing its worst economic recession since the Great Depression, said Singapore deputy prime minister, coordinating minister for economic policies and minister for finance Heng Swee Keat. He was speaking at the opening ceremony of the Singapore International Reinsurance Conference (SIRC) '2020 Re-Mind' virtual event this week.
The Hong Kong government has gazetted two insurance amendment Bills relating to insurance-linked securities (ILS) and direct regulatory powers over the holding companies of multinational insurance groups. The Bills were gazetted last Friday.
The Hong Kong Federation of Insurers (HKFI) has appointed Ms Selina Lau as its Chief Executive with effect from 1 February 2020.
The Monetary Authority of Singapore (MAS), the General Insurance Association of Singapore (GIA), the Life Insurance Association (LIA) and the Singapore Reinsurers' Association (SRA), announced today (12 Dec) the establishment of the Insurance Culture and Conduct Steering Committee (ICCSC) to foster sound culture and strengthen standards of conduct among insurers in Singapore.
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