HSBC Insurance Brokerage receives concurrent approval for insurance brokerage and fund sales, as it targets China’s high-potential RMB 28.8 trillion market.
Despite advances in safety measures and culture, a repeat of the earthquake would cause economic loss of US$331bn and insurance losses around US$140bn, according to Moody's RMS and Swiss Re.
FWD saw the value of new business hit US$482m, with the businesses' results boosted by the return of Chinese visitors to Hong Kong and Macau, strong bancassurance partnerships, and expanded agency presence...
Major Chinese insurers are unlikely to face a crisis due to the country's falling property market, however the extent of exposure for smaller and privately backed players is unclear.
APRA’s 2023-24 Corporate Plan sets forth strategies to bolster the continuity of financial services amid rising threats, with cyber-attacks and climate-related financial risks both key concern.
