Syrian fighters supported by Turkish planes on Sunday attacked Kurdish forces at strategic points in eastern Syria, in a territorial struggle that could help determine the future of the country.
Since the fall of Bashar Al Assad on December 8, forces allied with Hayat Tahrir Al Sham (HTS), the armed group that replaced the regime in Damascus, have made gains into areas controlled by the Syrian Democratic Forces, formed by the US in 2014 and comprising mostly Kurdish militias. Washington and other powers have carved areas of control in Syria since civil war started in 2011.
"The Turks are trying to change the situation on the ground ahead of the coming of Trump," an official affiliated with the SDF administration in the area told The National, referring to US president-elect Donald Trump taking charge on January 20.
About 20 Kurds have been killed in the past 48 hours, mostly from Turkish aerial attacks, the official said. No data was available of casualties on the other side.
The current fighting is focused on Tishreen Dam on the Euphrates, near the city of Manbij, the official said. The SDF lost the city last month to the Syrian National Army, a Turkish proxy allied with HTS that is leading the latest offensive.
Despite Turkish air bombing and drone strikes, Kurdish enforcements have been arriving since last week to bolster the SDF presence around the dam, he said.
A statement by a military barracks affiliated with the Syrian National Army said the attack was aimed at "liberating the villages in the hills and villages near the dam".
Large parts of eastern Syria, especially the north-east, are Kurdish-run, including most of the Raqqa and Hasakah provinces, and areas of the Deir Ezzor and Aleppo governorates.
The SDF has been the ground component in the US fight in Syria against ISIS, which still has a presence in the east. But US-backed Kurdish territorial acquisitions have contributed to ethnic violence with Arabs, who comprise the overwhelming majority of the population of the country, including in the east.
The tribal area, especially in the Euphrates valley, is Syria's breadbasket and the source of most of its oil and gas. Oil output was 200,000 barrels a day before 2011 but has fallen by 75 per cent since. The area also contains the bulk of the US military presence in Syria.
In addition to Manbij, the SDF lost at least one oilfield in Deir Ezzor, as well as other parts of the governorate last month.
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Key changes
Commission caps
For life insurance products with a savings component, Peter Hodgins of Clyde & Co said different caps apply to the saving and protection elements:
• For the saving component, a cap of 4.5 per cent of the annualised premium per year (which may not exceed 90 per cent of the annualised premium over the policy term).
• On the protection component, there is a cap of 10 per cent of the annualised premium per year (which may not exceed 160 per cent of the annualised premium over the policy term).
• Indemnity commission, the amount of commission that can be advanced to a product salesperson, can be 50 per cent of the annualised premium for the first year or 50 per cent of the total commissions on the policy calculated.
• The remaining commission after deduction of the indemnity commission is paid equally over the premium payment term.
• For pure protection products, which only offer a life insurance component, the maximum commission will be 10 per cent of the annualised premium multiplied by the length of the policy in years.
Disclosure
Customers must now be provided with a full illustration of the product they are buying to ensure they understand the potential returns on savings products as well as the effects of any charges. There is also a “free-look” period of 30 days, where insurers must provide a full refund if the buyer wishes to cancel the policy.
“The illustration should provide for at least two scenarios to illustrate the performance of the product,” said Mr Hodgins. “All illustrations are required to be signed by the customer.”
Another illustration must outline surrender charges to ensure they understand the costs of exiting a fixed-term product early.
Illustrations must also be kept updatedand insurers must provide information on the top five investment funds available annually, including at least five years' performance data.
“This may be segregated based on the risk appetite of the customer (in which case, the top five funds for each segment must be provided),” said Mr Hodgins.
Product providers must also disclose the ratio of protection benefit to savings benefits. If a protection benefit ratio is less than 10 per cent "the product must carry a warning stating that it has limited or no protection benefit" Mr Hodgins added.