EIOPA Highlights Financing, Reinsurance and Governance for PE-Backed Insurers
EIOPA has published a supervisory statement addressed to national supervisors on private equity-backed insurers, with areas from financing to governance.
Topic
Compliance
APRA Says “Getting the Balance Right” Is Not About Reducing Standards
APRA reviews a year of its “Getting the balance right” objective and says it is not about reducing standards.
OSFI’s Routledge Says Earthquake Goal Is Some Form of Pre-Planned Resolution
OSFI's Peter Routledge said the goal is not a “backstop” but some form of pre-planned resolution framework for earthquake risk, and discussed OSFI's role…
Singapore Regulator Opens Consultation on Director Independence and Board Composition
MAS proposes targeted updates to corporate governance rules for banks, insurers and designated financial holding companies.
East African Regulators Agree to Harmonize Insurance Supervision, Approve Sandbox
EAISA regulators from Burundi, the DRC, Kenya, Rwanda, Tanzania and Uganda meeting in Nairobi adopted a common ICP assessment template, backed shared supervisory software…
EIOPA Calls Heatwaves the Deadliest Climate Hazard Facing Europe’s Insurance Sector
EIOPA has identified extreme heat as the leading climate-related liability risk for Europe's life and health insurers and pension providers. A new risk-scoring framework…
FCA Secures Bankruptcy Order Against Broker Arthur Temlett of Abacus
The FCA says a Scottish court has made insurance broker Arthur Temlett, trading as Abacus Insurance Consultants, bankrupt, with a trustee now handling the…
EIOPA Cuts Solvency II Reporting Templates by Up to 44%
EIOPA has published a follow-up note detailing concrete Solvency II simplification measures already in place, from smaller reporting templates to a new proportionality framework.
IRDAI Paper Proposes Lower Expense Limits and a New Distribution Architecture
IRDAI has released a public consultation paper proposing a new distribution architecture, lower expense of management limits and mis-selling safeguards.
IRDAI Scraps Prior Approval for Dividend Repatriation by Foreign-Owned Intermediaries
IRDAI has repealed the prior-approval requirement for dividend repatriation by foreign-owned insurance intermediaries, formalizing changes introduced through amendment regulations.