Alpha Global Wealth’s Post

The Financial Supervisory Commission recently passed the review of the Taiwan branches of French BNP Paribas Life Insurance Company Limited and BNP Paribas Property & Casualty Insurance Company Limited, where there were major deficiencies in the corporate governance operations and internal control systems of BNPP Life and BNPP Insurance, and thus relevant provisions of the Insurance Law were violated. In accordance with the provisions of Article 171-1, Paragraph 4 of the Insurance Law. via Financial Supervisory Commission of the Republic of China #corporate #riskmanagement #risk https://lnkd.in/gdNZXZy6

📢The latest report from the Global Federation of Insurance Associations (GFIA) making it clear that the insurance industry should not be regulated like the banking industry. Key points from the report- 🔑It's crucial to recognise the distinct nature of the insurance industry. We must steer clear of simply mirroring the regulatory frameworks designed for banks and other financial sectors. 🔑By keeping insurance regulation separate from banking models, we ensure that our focus remains sharp, addressing the unique risks inherent in insurance operations. 🔑Advocate for a regulatory environment that fosters innovation, encourages growth, and most importantly, safeguards the interests of policyholders. 🔑Inappropriate or excessive regulations can inadvertently burden the insurance industry, ultimately impacting the very individuals we aim to protect. #insurance #insuranceindustry #regulation #regulatory For full report -👉 https://lnkd.in/eFVhAbB6

The appraisal process is essential for maintaining the fairness and accuracy of insurance transactions. It helps ensure that policyholders are adequately covered and that insurers can accurately assess and price the risks they undertake. . . . #GSQ #GSQInsurance #Appraisal

The Australian regulatory landscape remains turbulent and challenging, with the pace of enforcement and reform unabated and further generational regulatory change imminent. Continuing our "Insurance Regulatory Landscape 2024" series, our lawyers share their views on key regulatory reforms that will shape the insurance sector this year and beyond. In our fifth article, we look at the heightened scrutiny on pricing practices in the general insurance industry. Read insights by Matt Ellis and Isabella Jones here 👉 https://lnkd.in/gHxTKD6S #insurance #regulatory #investigations #australianinsuranceregulatory2024

Professional Indemnity Insurance has been a challenging environment in recent years. Economic and regulatory impacts and market claims experienced have led to tighter insurance conditions. This is why we are pleased to announce that we have partnered with Adviser Ratings to provide a new data-driven PII solution for financial advisers across Australia. This partnership brings together Adviser Ratings’ unique access to high-quality data with Numerisk’s technical expertise and relationships in the insurance industry. For more information, visit our Adviser Ratings partner page: https://lnkd.in/gRb9M_wj #PIInsurance #financialadvisers #financialadvice #insurance #insuretech #fintech #riskmanagement

Dutch insurance market analysis based on the 2023 SFCR submissions of 108 solo insurers, totaling EUR 450 billion assets under management (99% market coverage based on EIOPA figures). https://lnkd.in/dm_-YYaT #solvencyii #insurance

Introducing our new data-driven insurance partner Numerisk. We know that Professional Indemnity Insurance for financial advisers has been a challenging environment in recent years. Which is why we have been working behind the scenes for 2 years with Numerisk to bring a new PI Insurance solution to the market. Find out more on the Numerisk website - (Link in first comment) #PIInsurance #financialadvisers #advicematters

THE 2024 INSURANCE INDUSTRY REPORT The Nigerian insurance industry has faced a unique set of challenges in recent years. Today, we'll be speaking with an analyst in the Nigerian insurance sector, to get insights on the industry's performance and future outlook. We'll delve into topics such as the impact of macroeconomic headwinds, potential for growth, regulatory changes, and building trust with consumers. And for this,Ayokunle Olubunmi, Head, Financial Institutions Ratings, Agusto & Co. Joined us https://lnkd.in/dwiG4aqd

We’ve prepared a detailed newsletter outlining the recent regulatory updates from the National Financial Regulatory Administration (NFRA) regarding internet insurance business activities conducted by non-life insurance companies in China. The newsletter covers the key changes, their potential impact on the industry, and what companies should consider to remain compliant. For more insights, please read the full newsletter below. #Insurance #DigitalInsurance #Regulation #ChinaInsurance #NonLifeInsurance #Compliance #InsuranceIndustry #RiskManagement #FinancialRegulation #BusinessUpdate

ASIC’s pricing interventions are a shake up to the general insurance industry in Australia. Consisent with the trajectory in GI markets overseas, we should expect delivering on pricing promises and ensuring fair consumer outcomes to remain firmly in the spotlight in 2024 and beyond. GI insurers MUST act now.