This is our regular update of new insurance regulatory developments relevant to the Asia-Pacific* and India, new insurance-related case law in Hong Kong, Australia and England and interesting insurance articles and news from across the world.  

Insurance regulatory updates

Singapore

MAS and CBIRC Enhance Supervisory Cooperation and Cross-Border Regulatory Oversight

Insurance cases

Canada Life Ltd, Re [2019] 10 WLUK 328 – English High Court – The court sanctioned an insurance business transfer scheme under the Financial Services and Markets Act 2000 Pt VII. Although the proposed transfer would double the transferor’s assets and liabilities, there was no evidence that it would not be able to accommodate those changes. There were proper commercial reasons for the transfer, policyholders were likely to benefit from it and the regulatory bodies had not objected to it.

Insurance articles / news

Is IAG’s India divestment a good idea?

Beazley takes 30% stake in Hong Kong coverholder Pegasus

Australia: Govt urged to subsidise health insurance for the elderly

India: Finance Ministry intends for insurers to invest in debt exchange traded funds

*Hong Kong, Singapore, China, Malaysia, Vietnam, Thailand and Australia.