China's National Administration of Financial Regulation (NAFR) reduces risk weightings for insurance companies' holdings in a bid to stimulate the nation's underperforming stock market.
Expansion of tax incentives to address challenges of an ageing population will increase demand for private health insurance, though the change isn't without its risks.
HSBC Insurance Brokerage receives concurrent approval for insurance brokerage and fund sales, as it targets China’s high-potential RMB 28.8 trillion market.
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.
The Hong Kong headquartered insurer also saw a 50% increase in net profit, with results attributed to strong sales recovery in key markets and its bancassurance strategy.
AM Best's latest global reinsurance rankings saw China Re slip two places when measured by life and non-life GWP, while the Asia region's combined ratio continues to hover above 100%.
Chinese insurers have spent over US$10bn building retirement communities, but new draft rules could see some excluded from the insurance-plus-service sector.
