The Insurance Association of China (IAC) has for the first time released green insurance classification guidelines.
The National Administration of Financial Regulation (NAFR) has issued the "Measures for the Management of Insurance Sales Practices", which will be effective from 1 March 2024.
China yesterday proposed relaxing some rules concerning the transfer of data abroad in a move likely to bring some relief to foreign and Chinese companies in the country who trade overseas, reported Reuters.
Some of China's cross-border data transfer regulatory requirements are not very clear or practical, which creates significant uncertainties and, in many cases, results in unfair disadvantage for foreign-invested insurance companies due to expansive interpretation, says the Insurance Working Group (IWG) of the European Chamber in China.
Eight domestic insurance companies, including China Pacific Insurance, ZhongAn Online P&C Insurance, and Ping An Insurance, have launched nearly 20 types of sports accident insurance on the Ant Insurance Internet insurance agency platform.
Ping An senior management heavyweight Ms Jessica Tan Sin Yin has resigned as co-CEO and EVP of Ping An Insurance (Group) Company of China ("the Company"), a financial services holding company.
The shares of Chinese motor InsurTech platform company Cheche Group went public on NASDAQ on 18 September 2023.
China's gross financial assets grew robustly in 2022, clocking growth of +6.9%, says Allianz Research in its "Allianz Global Wealth Report 2023: The next chapter", released earlier this week.
China's insurance industry chalked up premium income of CNY3.87tn in the first eight months of this year, according to statistics released by the National Administration of Financial Regulation (NAFR). The figure represented a growth of 11.9% over the corresponding period in 2022.
Companies registered and individuals working or living in the Shanghai Free Trade Zone (FTZ) will be allowed to buy cross-border insurance, investment and other services, says the Shanghai government as it introduces new rules to further ensure foreign financial institutions are treated equally as their domestic counterparts.