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Hong Kong Regulator Fines AIA $3 Million for Money Laundering Lapses
...Terrorist Financing Ordinance. The fine followed an on-site inspection carried out by the HKIA on business carried on by AIA International Ltd. through its Hong Kong branch, the ...
Source: BestWire   Date: August 5, 2024
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Bima Sugam: An Online Boost to India’s Insurance Market
https://bestsreview.ambest.com/edition/2024/august/index.html#page=44
Source: Best's Review   Date: August 1, 2024
UK Underwriters Back 'Landmark' Government Pension Review
Treasury said in a statement. Backed by U.K. underwriters and the Association of British Insurers, the review seeks to boost investment, increase pension pots and tackle waste in ...
Source: BestWire   Date: July 26, 2024
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Hong Kong Insurance Regulator Appoints Managers for Tahoe Life
Tohmatsu and Oliver Cheng of Deloitte Advisory (Hong Kong) Ltd. were named as joint and several managers to take full control of the affairs and property of Tahoe Life, the Hong ...
Source: BestWire   Date: July 26, 2024
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Delaware Regulator Establishes Long-Term Care Insurance Unit
Insurance and staffed by department employees. Earlier in July, more than 25 insurance department staffers finished a half-day training program on long-term care insurance ...
Source: BestWire   Date: July 23, 2024
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UK Prudential Regulation Authority Lays Out Guidelines for Next Round of Stress Testing
The 2025 Life Insurance Stress Test will apply to U.K. life insurers active in the bulk purchase annuity market with the largest annuity portfolios, the PRA said. Those insurers ...
Source: BestWire   Date: July 18, 2024
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New York Regulators File to Place Columbian Mutual Life Insurance Co. in Rehabilitation
Columbian Financial Group said in an announcement on its website. A notice to policyholders issued by Columbia Financial Group said the move is due to "the company's financial ...
Source: BestWire   Date: July 16, 2024
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Philippines Regulator Orders CareHealth Plus Into Receivership
Insular Life (BestWire, Dec. 8, 2023). The deal will have Oona acquire the stake in Oona Insular Insurance Corp., making the JV company a fully owned subsidiary, Oona said at the ...
Source: BestWire   Date: July 12, 2024
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PartnerRe Delists Preferred Shares From New York Stock Exchange
Form 15 with the SEC to suspend the company's reporting obligations. "The decision to voluntarily delist from the NYSE and to deregister from the SEC was made after careful ...
Source: BestWire   Date: July 1, 2024
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Insurers See Changes in Accounting Sector, Costly New Standards
https://bestsreview.ambest.com/edition/2024/july/index.html#page=28
Source: Best's Review   Date: July 1, 2024
DOL: Study Needed to Determine Whether to Change Fiduciary Standards on PRT Deals
Bulletin 95-1, the current federal guidance that governs the transactions. The council said it had released a required report to Congress on the bulletin and found current factors ...
Source: BestWire   Date: June 26, 2024
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Lincoln National Unit Enters Into Settlement With DOL Over Evidence of Insurability Practices
National Life Insurance Co. will make changes to its "proof of good health" requirement for participants in job-based life insurance plans, the DOL said. The settlement forbids the ...
Source: BestWire   Date: June 17, 2024
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Best's News: AM Best Says ILS Capacity Reached $100 Billion at Beginning of 2024
Emmanuel Modu, managing director, AM Best, said in this week's Best's News. ILS capacity was $100 billion at the beginning of the year, and this is about 18% of total global ...
Source: BestWire   Date: June 7, 2024
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Nine Life Insurance Trade Groups File Lawsuit to Block Department of Labor Fiduciary Rule
Nine life insurance trade groups filed a joint lawsuit against the U.S. Department of Labor to overturn its fiduciary rule, which they contend would reduce consumers' access to ...
Source: BestWire   Date: June 4, 2024
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AM Best: Insurers Navigate Data Privacy, Regulatory Challenges With Wearables
https://bestsreview.ambest.com/edition/2024/june/index.html#page=53
Source: Best's Review   Date: June 1, 2024
Iowa Insurance Division to Hold Hearing on Bestow Sale to Sammons Financial
Sammons Enterprises Inc. to acquire insurtech Bestow Life Insurance Co., according to a public notice of the session. The Iowa Insurance Division said the hearing will take place ...
Source: BestWire   Date: May 9, 2024
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New Fiduciary Rule on Annuity Sales To Take Effect in September, US Labor Department Says
Neely said in a statement. "More than 4.1 million Americans will be turning 65 each year through 2027. Most of them will not have access to traditional pensions and will need ...
Source: BestWire   Date: April 26, 2024
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ACLI Pitches PRT Deals as Safe Choice, Ahead of DOL Recommending Possible Changes
Bulletin 95-1, the current federal guidance that governs the transactions. ACLI executives said they don't have a time frame for the report or any indication of what it could ...
Source: BestWire   Date: April 4, 2024
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California Governor Signs Legislation Requiring ‘Best Interest’ Standard To Reveal Charges on Annuity Sales
https://bestsreview.ambest.com/edition/2024/april/index.html#page=24
Source: Best's Review   Date: April 1, 2024
Senate Committee Report: PPLI Is a Multibillion-Dollar Tax Giveaway
https://bestsreview.ambest.com/edition/2024/april/index.html#page=26
Source: Best's Review   Date: April 1, 2024

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