New York-listed Waterdrop, a technology platform dedicated to insurance and healthcare service, has established a presence in the government-backed huiminbao ('Benefit the people' health insurance) market.
Insurance giant China Life's profitability remains sturdy amid a slowing economic recovery and unstable insurance demand in the aftermath of the COVID-19 pandemic, says Fitch Ratings.
Global credit rating agency Fitch Ratings expects more stringent capital requirements on assets in light of the upcoming revised regulatory regime under the second phase of China Risk-Oriented Solvency System (C-ROSS).
China has tightened rules for online insurance sales, seeking to root out irregularities in a burgeoning business that has bolstered platforms like Waterdrop and Huize Holding, reported Bloomberg.
The Life Insurance Department of the CBIRC has issued an exposure draft on universal life insurance that aims to consolidate for the first time various rules that are scattered over a number of documents governing this class of business.
Estimates are that comprehensive motor insurance reforms saved insurance customers more than CNY200bn ($31bn) in premiums since the reforms were launched on 19 September 2020.
Claim settlement, product and brand are the three most important factors that help consumers make up their mind in insurance purchasing decisions, according to a report released by the Waterdrop Insurance Users Research Centre.
Some of the more than 100 low-cost inclusive supplementary medical insurance schemes that have mushroomed across the country in recent months may suffer losses, said Mr Ye Yanfei, head of the Policy Research Bureau of the CBIRC.
China's retirement income system has been ranked the 28th best among the 43 systems worldwide covered this year by the Mercer CFA Institute Global Pension Index. This represents a jump of five places from 33rd position in 2020 out of 39 systems ranked that year.
Zhonglu Property And Casualty Insurance has become the latest insurer to announce that it is increasing its capital.