The head of the Financial Regulatory Authority (FRA) is urging insurers to establish specialised investment funds, given that the insurance sector is a long-term investor.
Beginning 2022 Bank of England (BoE) will incorporate supervision of climate related financial risks into its core supervisory approach.
Insurance House (IH) has demonstrated an adequate operating performance track record in recent years, following the execution of strategic initiatives to stabilise its operations in light of historically volatile performance in 2016 and prior years, notes AM Best.
The world's largest private bank UBS Group is in talks with China Life Insurance Group to launch an asset management joint venture in China, reported Reuters citing two sources.
The insurance industry believes that the interest rate in China will remain at a relatively low level for a long time in the future, Mr Cao Deyun, executive vice president and secretary-general of China Insurance Asset Management Association, has said.
2021 has so far been a challenging year for many insurance companies in Saudi Arabia. The net profits generated by 28 insurance companies listed on the Saudi bourse (including Saudi Re but excluding Al Sagr) stood at SAR904.2m ($241m) for the first three quarters of this year (YTD Q3-2021), a 49% plunge from the SAR1,786.7m posted for the corresponding period of 2020, according to the regional actuarial consulting firm, Badri Management Consultancy.
China is proposing to scrap limits on foreign ownership of insurance asset management companies.
The Financial Institutions Division of the Ministry of Finance has met other stakeholders to discuss regulations to segregate life insurance funds so as to secure policyholders' interests from alleged infringements.
The CBIRC has published rules allowing insurers to participate in securities lending. The move could help insurers improve returns on their long-term, and sizeable stock and bond holdings, reported Reuters, citing a CBIRC statement.
The CBIRC and two other Chinese financial regulators have issued statements saying that the recent default by Shenzhen-headquartered property developer China Evergrande Group is an individual case and will not have any negative impact on the normal operation of the banking and insurance industry.