Ping An Insurance (Group) Company of China, one of the biggest financial services group globally, has announced that its new Ping An Guanlan Data Centre No. 3 has set a benchmark for energy-saving among China's financial data centres, marking another step toward Ping An's goal to achieve operational carbon neutrality by 2030.
Insurance companies are assessed by Fitch Ratings as being in the low-risk category if distress in the Chinese property market persists beyond the global credit rating agency's base-case assumptions.
China's "dynamic zero-COVID" policy is expected to continue to be implemented well into 2023, says Fitch Ratings in a report released last week which is titled "APAC Exposure to Slower China Growth".
More and more investors in China, including insurers and pension funds, are considering ESG and sustainability risks in their portfolios, and a number of trends point to rising interest in this topic.
China Rongtong Property & Casualty Insurance, a defence-linked insurer, has reported net profits of CNY18.57m ($2.75m) for the second quarter of this year.
The aggregate net profit of 61 unlisted life insurance companies in China stood at CNY4.1bn ($611m) for the first half of 2022, plunging by more than 80% compared to the CNY30.5bn reported for the corresponding half in 2021, according to an analysis by Huibao World.
The overall growth rate of health insurance premiums for both the life and the non-life markets slowed in the first half of this year, according to statistics released by the CBIRC.
The aggregate net profit of 72 unlisted life insurance companies in China stood at CNY5.06bn ($749m) for the first half of 2022, falling by 11.6% compared to the corresponding half in 2021, according to data compiled by Huibao World.
State-controlled China Re has estimated that the net profit of the Group attributable to the equity shareholders of the parent company for the first half year of 2022 may decrease by approximately 40% to 50% as compared to the corresponding half for the year 2021.
The CBIRC has amended an exposure draft of a proposed regulation covering life insurance information disclosure. The regulation, when finalised, is scheduled to take effect from 30 June 2023.