China's largest life insurer, China Life Insurance, is undertaking a corporate reorganisation for its future transformation, including manpower changes. The focus is on boosting individual life business.
The best way for life insurers to spur sustained growth in the near term is by transforming the agency channel, says the global management consultancy firm, McKinsey & Company.
China's Belt and Road Initiative (BRI) continues to evolve significantly, with more investments beginning to move across to multilateral development banks, and through partnerships with countries such as Japan. However, the geopolitical backdrop remains challenging, with the ongoing Sno-US trade war creating an atmosphere of caution and projects taking longer to get signed off and underway, says global law firm Baker McKenzie in a commentary on its website.
China's first online-only insurer, ZhongAn Online P&C Insurance, has unveiled an online health consultant supported by artificial intelligence technology, to offer health management services to policyholders.
The National Healthcare Security Administration (NHSA) has said that the authorities attach great importance to the role of the market in resolving healthcare issues, and thus encourage insurers to design various types of medical insurance services and vigorously develop commercial health insurance.
Nearly half of the companies listed on China's innovation board have acquired D&O liability insurance.
China Post Group Corporation has put up for sale on the Beijing Equity Exchange its shares in four insurance agencies.
A block of 9.9% of the shares of Qomolangma Property & Casualty Insurance will be put up for auction on 5 October. The stake has an estimated value of CNY85.6m ($12.1m).
As the US-China trade war intensifies, state-owned trade credit insurer Sinosure is stepping in to support Chinese exporters, providing low cost coverage and chasing down US importers unwilling or unable to pay mounting tariffs, reported Reuters.
China accounts for more then half of the world's annual liver cancer fatalities caused by hepatitis C, according to a recent World Health Organisation report.