News

Real estate giant sells its insurance holdings for US$392m

Real estate giant sells its insurance holdings for US$392m

Chinese conglomerate Wanda Group has signed an agreement to sell all its holdings in Aeon Life Insurance for CNY2.7bn ($392m).

Chinese life insurers take top 2 places in competitiveness rankings in Asia

Chinese life insurers take top 2 places in competitiveness rankings in Asia

Chinese insurance giants, China Life and Ping An Life, have been named as the top two insurers in the 2018 “Asia Insurance Competitiveness Ranking Research Report”, commissioned by the newspaper, the 21st Century Business Herald, with a study carried out by the Insurance Research Center of the University of California, […]

50% of consumers keen on online mutual assistance plans, 42% are wary

50% of consumers keen on online mutual assistance plans, 42% are wary

More than half (50.5%) of respondents to a recent poll think that online mutual assistance schemes, which provide coverage of up to hundreds of thousands of yuan a year, in exchange for contributions of a few yuan, is the answer to the poor.

Insurance asset management body to work out self regulatory measures

Insurance asset management body to work out self regulatory measures

The Insurance Asset Management Association of China (IAMAC) will cooperate with the regulatory authorities to adopt a series of self disciplinary measures related to investments in stocks by the insurance industry, according to Mr Cao Deyun, the association‘s executive vice president and secretary general.

76% of consumers believe private insurance is important — poll

76% of consumers believe private insurance is important — poll

More than three quarters (76.4%) of Chinese consumers polled in a recent survey believe that commercial insurance is important and needs to be purchased. Among them, 34.06% of the population believes that “commercial insurance is very important and must be bought”; while 42.32% of the population believe that “commercial insurance […]

Regulator studies life market to determine supervisory approach for 2019

Regulator studies life market to determine supervisory approach for 2019

In order to fully understand developments in the life insurance market, the CBIRC has recently studied risks and issues in the sector and conducted on-site inspections.note

Central bank finalising draft rules for financial holding companies

Central bank finalising draft rules for financial holding companies

China‘s central bank has started seeking internal feedback on draft rules regulating financial holding companies, targeting big-name conglomerates that hold multiple financial licences, including insurance licences, reported Reuters citing two sources with direct knowledge of the matter.

Life sector forecast to enjoy around 15 golden growth years

Life sector forecast to enjoy around 15 golden growth years

China‘s life insurance industry is forecast to enjoy a golden growth period of around 15 years, Shanghai-listed stockbroking company Tianfeng Securities says in a research report.

Motor premium slowdown partly offset by non-motor lines

Motor premium slowdown partly offset by non-motor lines

P&C insurers in China are accelerating the shift in their product mix to non-motor lines in response to margin pressure from motor pricing liberalisation, notes Moody‘s Investors Service.

Fire is top cause of loss over past 5 years

Fire is top cause of loss over past 5 years

Fire is the top cause of loss in China, according to Allianz Global Corporate & Specialty (AGCS) in its latest Global Claims Review.