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Tag Archives: Indonesia

Posted in Asia, Regulatory and legislative updates

Changes in insurance regulation: Mainland China / Hong Kong / Singapore / Indonesia / Vietnam

Our Asia insurance regulatory tracker for the third and fourth quarter of 2019 is attached. The tracker covers a range of developments across the region, including China’s measures to further open up China’s insurance sector, the guidelines issued by the Hong Kong Insurance Authority in light of the regulatory regime for insurance intermediaries from September

Posted in Asia, China and Hong Kong, Indonesia, Japan, Regulatory and legislative updates, Singapore, Vietnam

Changes in insurance regulation: China / Hong Kong / Singapore / Indonesia / Vietnam

Our Asia insurance regulatory tracker for theĀ first and second quarter of 2019 is attached. The tracker covers a range of developments including the Hong Kong Insurance Authority’s newly issued Guideline on Qualifying Deferred Annuity Policy, the Monetary Authority of Singapore’s Guidance to Capital Markets Intermediaries on Enhancing AML/CFT Frameworks and Controls, and China’s recently adopted

Posted in Asia, China and Hong Kong, Indonesia, Japan, Regulatory and legislative updates, Singapore, Vietnam

Changes in insurance regulation: China / Hong Kong / Singapore / Indonesia / Vietnam

Our Asia insurance regulatory tracker for theĀ first quarter of 2018 is attached. It includes updates on the introduction of an insurance levy in Hong Kong, a consultation on agency recruitment incentives in Singapore, and new measures in relation to the use of insurance funds in China.

Posted in Asia, Indonesia, Regulatory and legislative updates

Indonesia: Otoritas Jasa Keuangan (OJK) to get rid of sanctions for insurance companies who fail to meet minimum risk-based capital (RBC) requirement

Background In order to maintain sound financial management, insurance companies in Indonesia are currently obliged to maintain a minimum solvency level of at least 100% of their risk-based minimum capital. Beyond this, insurance companies are also expected to reach the “target” solvency level of 120%, below which the Minister of Finance can require an insurance