Chew: ‘Globally, progress is being made to develop international capital standards for the insurance industry.’
KUALA LUMPUR: Bank Negara is looking to further review the risk parameters for the regulation of the local insurance industry over the next two to three years, while keeping close tabs globally on the development of international capital standards of the industry.
Assistant governor Jessica Chew said since the introduction of the risk-based capital (RBC) framework in Malaysia in 2009, the central bank has been closely monitoring the development.
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