US-China rivalry and mismanaging China risk are two risks on the "Top 10" list identified through a survey on political risk by global insurance services company WTW.
Insurers in China have begun to consider converting the coverage of existing life insurance policies to pension annuities, notes the mainland Chinese law firm Anjie Law.
Brussels-headquartered Ageas, Belgium's biggest insurer, has announced that it had reached an agreement with China Taiping Insurance Holdings (CTIH) to subscribe to the capital increase of the latter's wholly-controlled subsidiary Taiping Pension Co (TPP) for a total consideration of CNY1,075m ($151.3m).
China's Finance Ministry has announced the nationwide implementation of full-cost insurance and planting income insurance policies for rice, wheat and corn, which are the country's staple grains. The scheme took effect on 21 May, the date of the announcement.
Younger people have risen to become the main customer group for commercial health insurance, according to the first comprehensive research report on the development of commercial health insurance in China.
The Hong Kong Insurance Authority (IA) says that its inspections, intelligence received, and mystery shopping have continued to reveal business models adopted by certain licensed insurance broker companies that appear obviously to rely on unlicensed persons to sell long-term insurance policies to Mainland China Visitors (MCVs).
The regulatory authorities have been providing window guidance to some insurance asset management companies, advising them to stop selling new investment products to individuals and to control the scale of investment in insurance asset management products by individual investors.
The removal of a restriction that limits the number of Chinese insurers allowed to cooperate with a commercial bank branch to a maximum of three will benefit life insurers' new business sales in the bancassurance channel, particularly for those with more recognisable brands, says Fitch Ratings.
China's five major 'A'-share listed insurance groups posted a cumulative insurance premium income of CNY1.25tn ($176bn) in the first four months of 2024, 1.47% higher than in the corresponding period in 2023.
The Hong Kong Export Credit Insurance Corporation (HKECIC) has announced the signing of meeting minutes with the Guangdong and Shenzhen branches of China Export & Credit Insurance Corporation (SINOSURE) in Guangzhou.