Asia - Over-regulation poses challenges for the region
Saturday, 10 15 2016, Category: Islamic Insurance, Country: Asia
The over-regulation of some markets is the hottest topic in Asian insurance at present, Alamgir Kabir senior vice-president of the Asian Reinsurance Corporation, told EAIC Today.
“Many insurers in the territory have been struggling to comply with the regulatory requirements, such as minimum capital requirements or the risk-based capital regime,” he said. “Mergers and acquisitions and winding-up are seen as common. Regulators have also been stringent in some of the countries by limiting reinsurance placement in the overseas markets. Many reinsurers, having sufficient capacity, are not allowed to write their reinsurance business, despite prerequisites being met.”
Source: Intelligent Insurer