Thoughtful workforce transitions in higher education
One way higher education institutions are responding to financial challenges caused by the COVID-19 pandemic is to rethink their staffing models and reduce faculty and staff costs.
Hong Kong’s Insurance Authority has published a consultation paper that outlines a proposed risk-based capital (RBC) framework for the country’s insurance industry. The framework is seen as a welcome step which better reflects levels of regulatory capital with levels of underlying risks and aligns an important and developed insurance market such as Hong Kong with the solvency regimes used in many other markets in Asia and with evolving global standards.
This Asia e-Alert outlines the four phases of the proposed regime and discusses potential impact and initial industry reaction.