PFRDA relaxes annuity surrender rules in defined cases
Annuity Service Providers must process surrenders only under PFRDA’s two exceptions
PFRDA
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Insurance
12 briefs
India launches maritime insurance pool with sovereign guarantee
Indian maritime operators can route war-risk cover through the new domestic pool
PIB
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Dubai Financial Services Authority prohibits and fines reinsurance broker for misleading conduct
DIFC reinsurance brokers must evidence premium and brokerage accuracy
DFSA
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DFSA consults on Islamic finance framework enhancements
DIFC firms must assess Islamic endorsement and Takaful disclosure changes before the June 19 consultation deadline
DFSA
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India establishes sovereign maritime insurance pool with ₹12,980 crore guarantee
State-backed insurance available for India-linked shipping risks
IRDAI mandates Ind AS accounting for insurers
Insurers must shift to new reporting framework
Prudential Regulation Authority fines U K Insurance for Solvency II reporting failures
UK insurers must evidence Solvency II reporting controls and data accuracy
US provides up to $20bn reinsurance for Gulf maritime trade
Government-backed cover supports shipping operations
General Insurance Corporation of India withdraws marine hull war cover in high-risk regions
General Insurance Corporation of India (GIC Re) ceased providing Marine Hull War Risk cover for specified high-risk zones effective 7 pm India time on March 3.
UK sanctions Maritime Mutual entities under Russia sanctions regime
Asset freeze and service restrictions apply to designated insurer entities
India introduces risk-based deposit insurance premiums for banks
Banks shift from flat-rate to risk-based premium system
India's IRDAI approves risk-based capital norms and new insurance accounting rules
Insurers must shift to risk-based capital and new accounting standards