The Shandong Provincial People's Procuratorate has ordered the arrest of Li Quan, former chairman of New China Insurance, for suspected embezzlement and bribe-taking. The insurer, listed in Hong Kong and Shanghai, is one of the biggest life insurance companies in China.
The National Financial Regulatory Administration (NFRA) has said that it would issue supporting policies to promote the development of commercial health insurance, to meet the diverse health protection needs of the people.
New China Insurance (NCI), a listed life insurer, has announced a significant profit increase for the first three quarters of 2024.
The People's Bank of China (PBOC), the country's central bank, announced yesterday that it would start accepting applications from non-bank financial institutions to join a newly created funding scheme, to boost the stock market.
More than two in five (42%) insurance policyholders in China say that they would be deterred from purchasing insurance from the same insurer again, if their claims were denied, according to the findings of a survey commissioned by Hong Kong-based reinsurer Peak Re.
Bancassurance sales personnel say that they encountered teething problems in the early stages of the implementation in August 2023 of rules on commission fees payable in bancassurance.
China International Capital Corporation (CICC), a partially state-owned multinational investment management and financial services company, has recommended stock investors be cautious in chasing listed stocks, including those of domestic insurers.
The Shanghai Bureau of the National Financial Regulatory Administration has issued the "Guiding Opinions on Promoting the High-quality Development of Shanghai's Shipping Insurance Industry", setting out the goal of building the eastern Chinese port city into an international shipping Insurance centre.
Trust Mutual Life Insurance, China's only mutual life insurer, has announced that it plans to increase its operating fund (akin to registered capital for a company) by CNY325m ($45.9m) by inducting a new member.
China plans to develop a points-based credit system for healthcare professionals who are certified to process medical insurance funds to curb the misuse of funds and strengthen punishment for violators, according to a guideline released recently.