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Philippine insurance industry to adopt new reporting standard for enhanced transparency

    Regulator unveils plans regarding new standard

    By Roxanne Libatique | Insurance Business Magazine | March 16, 2024

    The Insurance Commission (IC) of the Philippines has issued a directive to insurance companies, mandating the adoption of a new accounting standard aimed at enhancing the transparency and international comparability of financial reports.Read More »Philippine insurance industry to adopt new reporting standard for enhanced transparency

    Will M&A market for insurance companies revive this year?

      Sale of Lotte Insurance to test market sentiment

      By Anna J. Park | The Korea Times | February 16, 2024

      Market attention is now on whether the insurance M&A market could be able to reverse its frozen atmosphere in this year. While some market watchers expect M&A activities in the insurance sector to be revitalized as uncertainties are resolved over the application of the new IFRS 17 global accounting standards, concerns still linger regarding the long-term forecast for the domestic insurance industry, according to industry officials, Friday.Read More »Will M&A market for insurance companies revive this year?

      Prudential announces capital increase for CITIC joint venture

        “We remain excited about the significant potential,” says leader

        By Kenneth Araullo | Insurance Business Magazine | December 21, 2023

        Prudential, the life and health insurer, has announced a significant capital infusion in its joint venture (JV) with CITIC Financial Holdings. A media release said the joint venture, CITIC-Prudential Life Insurance Company (CPL), is set to increase its registered capital by RMB2.5 billion (US$351 million) following the approval from CPL’s shareholders.Read More »Prudential announces capital increase for CITIC joint venture

        Transitional measures to help ease risks for life insurers in Taiwan – Fitch Ratings

          New measures give the industry more time to adjust its strategies

          By Kenneth Araullo | Insurance Business Magazine | December 6, 2023

          Taiwan’s Financial Supervisory Commission (FSC) has recently introduced measures designed to assist life insurers in coping with the challenges posed by interest-rate risks, with these changes part of the transitional arrangements for the upcoming implementation of the localised Insurance Capital Standards (TW-ICS) and IFRS 17.Read More »Transitional measures to help ease risks for life insurers in Taiwan – Fitch Ratings