Major insurance group China Pacific Insurance (Group) Co (CPIC) will continue to promote diversified and stable development by focusing on three main areas, the group said in a statement to mark the 30th anniversary of its establishment that fell on 13 May.
All of China's top 10 life insurance companies in 1Q2020 remain in the top rankings in terms of premium income in 1Q2021, except for Hua Life.
China's top 10 non-life insurance companies in 1Q2020 remain in the top rankings in terms of premium income in 1Q2021, except for TianAn P&C Insurance.
Evergrande Life ranked as the biggest Sino-foreign life insurance company based on premium income for the first quarter of this year.
The second phase of the China Risk-Oriented Solvency System (C-Ross II), which will start officially in the first half of this year, is expected to result in weaker solvency adequacy ratios of insurance companies, big and small. Also expected are further waves of capital increases and bond issuances to maintain solvency levels.
The CBIRC has said that the licences of the financial institutions it supervises will fall into one of three categories: financial, insurance and insurance intermediary. The goal is to simplify and unify the licensing process for these entities.
The State Council, which is China's Cabinet, has passed a draft regulation on the management of earthquake protection for construction projects at its executive meeting chaired by Premier Li Keqiang on 12 May.
The National Population Census, which is conducted every 10 years, shows that China's population reached 1,412m last year, up from 1,340m in 2010, the National Bureau of Statistics has announced.
Giant insurance group Ping An has launched its healthcare brand, jumping into the high-end comprehensive healthcare sector by offering a package of financial, medical, nursing and wellness services.
Since the comprehensive reform of auto insurance was implemented nationwide last September, auto insurance consumers have saved at least CNY104.7bn ($16.23bn) on motor premiums as the reform goals -- reducing prices, increasing insurance coverage, and improving quality - are met.