A new round of adjustments to the pricing interest rates for life insurance products is imminent, as insurers prepare to file new product launches and recalibrate distribution strategies in anticipation of a shift in the rate environment.
With the deadline for implementing China's new insurance contract accounting standard drawing closer, the Ministry of Finance and the National Financial Regulatory Administration (NFRA) have jointly issued a circular to ease the transition for non-listed insurers. The notice introduces deferral options for insurers facing implementation difficulties and outlines simplified treatment rules to ensure a balance between financial reporting quality and cost-efficiency.
Nearly half of the world's 40 largest insurers have now established a presence in China, and two more global players are set to deepen their footprint. AIA and Aegon have received regulatory approval to set up wholly foreign-owned insurance asset management companies in Shanghai-the first of their kind in the country.
China's first batch of cybersecurity insurance service pilots has been successfully completed, according to the Ministry of Industry and Information Technology (MIIT). During the pilot period, over 1,500 policies were issued to enterprises, with total premiums exceeding CNY0.15 bn ($20.5m) and total insured value reaching nearly CNY11.5bn-demonstrating strong growth potential for the cybersecurity insurance market.
At the 2025 Lujiazui Forum held on 18 June, the National Financial Regulatory Administration (NFRA) director Li Yunze said that China's three-pillar pension system remains imbalanced, with the third pillar starting relatively late and holding significant potential for future development.
Ping An Insurance (Group) Company of China Ltd has climbed two places to 27th on Forbes' 2025 Global 2000 list, which ranks the world's largest publicly listed companies based on a composite of revenue, profit, assets, and market value. The Group also moved up to fifth among Chinese companies on the list, while maintaining its position as the country's highest-ranked insurance firm.
These are the highlights for events and updates across the insurance industry this week.
These are the updates on insurance regulatory developments in China.
New research-based evidence has emerged that shows that China's urban-rural health insurance integration has had a positive impact on the mental well-being of rural seniors in the country.
Prescribed interest rates for life insurance policies are expected to be lowered in the third quarter of this year, as bank interest rates continued to fall. The prescribed interest rate for standard life insurance plans may be reduced from the current 2.5% to 2.0%, while interest rate adjustments for participating insurance may vary.