Insurers and banks should step up medium- and long-term financial support to the manufacturing industry to make the industry more efficient, innovative and sustainable, according to a joint statement released by several government agencies.
Japan's life insurers are likely to buy more domestic sovereign bonds this year after the end of negative interest rates in the country, reported Bloomberg.
Southeast Asian markets now have a window of opportunity to accelerate decarbonisation with actionable ideas and accelerators to unlock these ideas by 2030, according to a report by Bain & Company, GenZero, Standard Chartered and Temasek.
The trust subsidiary of Ping An Insurance (Group) Co has failed to repay a trust product on time because of the overall property downturn in China.
Ping An Pension is the only insurer out of 117 companies assessed to command all five stipulated investment management capabilities, according to a new report released by the Insurance Association of China (IAC). There are 16 insurance companies with four types of investment management capabilities.
Low inflation in China should contribute to global disinflation, primarily via lower export prices. This would support insurance markets but may be controversial among producers in importing countries, according to a Swiss Re Institute Report.
Market volatility is impacting the investment outlook for insurers across segments and business lines, according to a survey by Mercer and Oliver Wyman.
Chinese insurers' investment returns, which account for a large share of their total earnings, are under pressure from declining interest rates and high stock market volatility in onshore markets, says Fitch Ratings.
CITIC Prudential Life (CPL), which is Prudential's 50-50 joint venture in mainland China, saw new business profit fall by 40% reflecting both lower volumes and adverse economic impact, Prudential says in a media release on its 2023 financial results.
Hong Kong-listed China Taiping Insurance Holdings Co (CTIH) increased its net profit after tax by 23.0% to HK$10.3bn ($1.3bn) in 2023, compared to the previous year.