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 from across the world.

Insurance regulatory updates

Hong Kong

Insurance Authority releases provisional statistics of Hong Kong insurance industry for 2019

India

IRDAI issues Report of the Committee on “Ease of doing business for reinsurers, FRBs and Lloyd’s India”

Australia

APRA announces revised implementation approach for APRA Connect

UK

Joint statement from the FCA, BoE, PRA, CMA, PSR on the launch of the Financial Services Regulatory Initiatives Forum

China

CBIRC Releases the Opinions on Accelerating the Reform of Accident Insurance

IAIS

Statement from Jonathan Dixon, IAIS Secretary General on COVID-19

Insurance cases
Niramax Group Ltd v Zurich Insurance Plc [2020] EWHC 535 (Comm)
English High Court – 9 March 2020

Fire claim – avoidance of policy for non-disclosure – Zurich’s avoidance of a policy for non-disclosure of, amongst other things, a an earlier fire was upheld by the High Court. The case provides a useful discussion on the common law requirements for avoidance of materiality and inducement.

Insurance articles / news

Hong Kong insurance industry posts significant growth in premiums

Swiss Re and Microsoft in global data tie-up

Aon and WTW US$30bn tie-up to have large Asia presence

Aviva’s departure from Indonesia adds to shake-up

Hong Kong’s BEA may sell insurance arms: report

M&As subdued despite looser foreign ownership laws

Aon alleges fraud in $300 million Brazilian deal

Marsh faces pressure to drop coal mine project

Beijing to slash premiums to help businesses

Singapore’s PDPC warns AXA, NTUC over data breaches



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