GRM Legal & Regulation
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S&P warning to reinsurers and primary insurers over transition to IFRS 17
S&P Global Ratings has warned that reinsurers and primary insurers should brace themselves for hurdles in the transition to International…
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Sharma urges insurance industry to deliver standard FINC wording
Praveen Sharma, managing director of Marsh’s insurance regulatory and tax consulting practice, has told Commercial Risk’s first virtual conference that…
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Buyers need to check broker compliance as Brexit looms
Buyers need to start a dialogue with their brokers over post-Brexit compliance, because market access will not be guaranteed when…
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EC starts work on pan-European pandemic risk transfer solution
Commercial Risk Europe has learned that the EC is setting up a working group to deliver risk transfer solutions for…
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London market brokers choose Belgium as top EU base for post-Brexit business
Almost one quarter of London market brokers have set up a base in Belgium to continue operating in Europe after…
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India’s insurance regulator mulls pandemic risk pool
The Insurance Regulatory and Development Authority of India (IRDAI) is looking at the introduction of a pandemic risk pool. A…
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TMF Group’s index highlights global business complexity
Curaçao, Israel and the US are among the simplest jurisdictions in terms of their legislative environment, while Indonesia tops the…
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Changing tariffs affect Indian global property programme local policies, says Willis Towers Watson
Global property programme local policies in India will require increased attention as a result of changing tariffs in the Indian…
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Insurance Europe highlights impact of Covid-19 on insurance industry
The European insurance industry has remained solid throughout the pandemic, with firms generally maintaining their solvency positions. although it has…
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New insurance regulator for Bermuda Monetary Authority
The Bermuda Monetary Authority (BMA) has appointed Gerald Gakundi to the position of director, supervision (insurance). Mr Gakundi has more…
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Hong Kong’s group capital rule will enhance insurance supervision
Hong Kong’s proposed group capital rule (GCR) will be beneficial to the group-wide risk and capital management culture of insurance…
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European insurers respond to European Commission’s Solvency II review
Europe’s insurers have largely supported the European Commission’s Solvency II inception impact assessment, but believe there are key omissions and…
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The importance of context
There is much debate around the topic of non-admitted insurance when it comes to global insurance programmes, but ultimately if…
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CEO of Hong Kong Insurance Authority reappointed for three years
Clement Cheung Wan-ching has been reappointed as chief executive officer of the Hong Kong Insurance Authority. The reappointment is for…
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China to continue opening up financial sector
China’s central bank governor has said the country plans to continue to open up the financial sector, according to the…
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AM Best cites improving P&C performance at AIG but downgrades life subsidiaries
AM Best has held AIG’s financial strength rating at A and maintained its P&C subsidiaries’ long-term issuer credit rating at…
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Insurers face post-pandemic challenges, Eiopa warns
A high level of uncertainty on the magnitude of economic disruption as a result of the Covid-19 outbreak increases downside…
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Greater Bay Area ‘insurance connect’ scheme planned by HK and Chinese authorities
Hong Kong and mainland Chinese authorities are reported to be working on plans for the introduction of an ‘insurance connect’…
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China announces major insurance supervisory overhaul
The China Banking and Insurance Regulatory Commission (CBIRC) has launched a major overhaul of its insurance supervisory system to grant…
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GFIA calls for more proportionality in FSB’s cyber report
The Global Federation of Insurance Associations (GFIA) has responded to a consultation by the Financial Stability Board (FSB) on its…