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China tag returned 4733 results

  • China Coal Group intent on divesting its shares in insurer

    Listed China Coal Energy Group is seeking to exit its investments in China Coal Insurance.

    China | 22 Sep 2023
  • European business chamber calls for risk rating method tailored for bankassurers

    The Insurance Working Group (IWG) of the European Chamber in China has suggested that Chinese regulators adjust the 'related party transaction' indicators in insurers' risk ratings to reflect the risk profile of bankassurers more accurately.

    China | 22 Sep 2023
  • PICC Life's new business value surges in 1H following removal of COVID-19 restrictions

    China's removal of COVID-19 pandemic-containment measures has supported new business generation at life insurers in 2023, with PICC Life Insurance Company reporting strong growth in new business value (NBV) in 1H2023. NBV increased by 67% yoy to CNY2.5bn ($342m) in 1H2023, while the value of in-force business after cost of capital rose by about 3.9% to CNY34.8bn.

    China | 22 Sep 2023
  • China's first private pension funds mostly in red ink in the 10 months of starting up

    Almost four-fifths of Chinese personal pension funds are unprofitable after the first group of private pension plans was established nearly a year ago.

    China | 22 Sep 2023
  • Regulator gives the nod to establishment of new insurer

    Shanghai International Group and seven other companies have received approval from the National Administration of Financial Regulation (NAFR) to establish Shenergy Property & Casualty Insurance with a registered capital of CNY10bn ($1.37bn).

    China | 22 Sep 2023
  • Regulator to act further to reduce bancassurance fees

    China's financial regulator, the National Administration of Financial Regulation (NAFR), plans to limit commission fees in bancassurance operations, in a move that could lead bancassurance fees to plunge by 50% or more.

    China | 22 Sep 2023
  • Goal of insurers must be to create 'great apps', not merely 'good insurance apps'

    Increasingly, insurers are competing for customer attention not against other insurers, but against super apps and apps from tech giants, retailers and the entertainment industry, says Capco, a global technology and management consultancy focused on the financial services industry.

    China | 22 Sep 2023
  • Pet insurance draws post-90s generation

    The post-90s generation has become the mainstay customers of pet insurance, accounting for more than 60% of total pet insurance policyholders. Among them, women account for up to 70%, according to the "2023 White Paper on Insights into Pet Digital Insurance Development Trends" jointly released by ZhongAn Insurance and Ant Insurance.

    China | 22 Sep 2023
  • New insurer takes over business of Evergrande Life

    The National Administration of Financial Regulation (NAFR) has approved the takeover of Evergrande Life Insurance, a unit of debt-ridden real estate giant China Evergrande Group, by a new state-owned insurer specifically set up for the purpose.

    China | 22 Sep 2023
  • China: Sinosure warns against failure to pay power plant dues

    State-owned China Export & Credit Insurance Corporation (Sinosure) has warned the Government of Pakistan against failure to honour its commitment to make due payments to power generation plants established in the China-Pakistan Economic Corridor (CPEC).

    Asia | 22 Sep 2023

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