All of China's top 10 life insurance companies in 1Q2020 remain in the top rankings in terms of premium income in 1Q2021, except for Hua Life.
Evergrande Life ranked as the biggest Sino-foreign life insurance company based on premium income for the first quarter of this year.
The second phase of the China Risk-Oriented Solvency System (C-Ross II), which will start officially in the first half of this year, is expected to result in weaker solvency adequacy ratios of insurance companies, big and small. Also expected are further waves of capital increases and bond issuances to maintain solvency levels.
The National Population Census, which is conducted every 10 years, shows that China's population reached 1,412m last year, up from 1,340m in 2010, the National Bureau of Statistics has announced.
Giant insurance group Ping An has launched its healthcare brand, jumping into the high-end comprehensive healthcare sector by offering a package of financial, medical, nursing and wellness services.
Sun Life Hong Kong has announced that the company will donate CA$25,000 (HK$150,000) to support a series of community activities organized by the Hong Kong Family Welfare Society (HKFWS).
The Insurance Development and Regulatory Authority (IDRA) has granted a licence to NRB Islamic Life Insurance Company which is as the first non-resident Bangladeshi (NRB) insurer in the country.
The Indonesian Financial Service Authority (OJK) has closed down a health insurance mutual aid platform called Saling Jaga, which had operated without an insurance licence.
More Filipinos were covered by microinsurance last year, with the total estimated number of lives covered reaching 50.35m at 31 December 2020, an 11.56% increase from the 45.13m lives covered 12 months previously, according to data from the Insurance Commission.
The IRDAI states that all general and health insurers are mandated to continue to offer the Corona Kavach and the Corona Rakshak policies, which are short-term COVID-specific health policies.