Ten things to know about insurance regulation in 20 countries
Insurance companies in Asia Pacific face complex regulatory issues that can impact their ability to operate across multiple jurisdictions.
Regulators differ by jurisdiction when it comes to permitting branches of foreign insurance companies to operate, with some allowing only locally incorporated companies. Furthermore, restrictions may be imposed on foreign direct investment and controller regimes – shareholders and management – making it essential for companies to determine if approval from the regulator is required upon proposed change of control (direct or indirect). Companies also need to be familiar with the nature of the regulatory capital regime, whether there is group supervision, a mandatory policy holder protection regime, and whether outsourcing is subject to regulatory oversight.
To help our clients navigate these areas, we have produced ‘Insurance regulation in Asia Pacific’ as part of our NRF Institute, which provides an overview and practical checklist of ten common regulatory issues for insurance companies operating, or seeking to operate, in 20 jurisdictions across Asia Pacific.