In view of the latest developments of the COVID-19 pandemic, Hong Kong's Insurance Authority (IA) has issued a circular to authorised long-term insurers, announcing the extension of temporary facilitative measures for non-face-to-face distribution of specific protective insurance products to 31 March 2022.
The Monetary Authority of Singapore (MAS) has reprimanded AIA Financial Advisers (AIA FA), Prudential Assurance Company Singapore (Prudential), Aviva (Aviva) and Aviva Financial Advisers (Aviva FA) for breaches of requirements relating to risk management arrangements and the remuneration of supervisors.
The Indonesian Shariah Insurance Association (AASI) says that it fully supports the establishment of a guarantor institution for policyholders in Indonesia.
Six of Australia's largest banking and financial services institutions have paid or offered a total of A$1.24 billion (US$961.5 million) in compensation, as at 31 December 2020, to customers who suffered loss or detriment because of fees for no service misconduct or non-compliant advice, according to the Australian Securities and Investments Commission (ASIC).
A parliamentary question was filed by Member of Parliament Desmond Choo on trading fuelled by online discussions and social media chat groups.
The Monetary Authority of Singapore (MAS) has revised its Technology Risk Management Guidelines to keep pace with emerging technologies and shifts in the cyber threat landscape.
Hong Kong's Insurance Authority has extended the validity of temporary facilitative measures to 31 March 2021.
Hong Kong SAR Chief Executive Carrie Lam unveiled the government's blueprint for insurance in the Guangdong-Hong Kong-Macao Greater Bay Area (GBA) in her policy address 2020.
The Philippine Insurance Commission's (IC) recent withdrawal of a proposal to hold the minimum net worth requirement of local insurance companies' at PHP 900 million (USD 18.6 million) is expected to have a mixed impact on the overall insurance industry over the short to medium term, according to AM Best.
Singapore's retirement system retains its top spot in Asia, ranking seventh out of 39 retirement systems, according to the 12th annual Mercer CFA Institute Global Pension Index, a study of retirement income systems across the globe, covering almost two-thirds of the world's population.
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