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.
The Insurance Bureau has requested urgent updates on life insurer's positions and risk assessments related to the turmoil in China's financial markets.
China's rapidly ageing population could create opportunities life insurers, despite associated risks and increased competition, says a new Moody's report.
Investments led to wider operating deficit, but Fitch maintained rating due to reduction in underwriting deficit, strong capital, and continued support from its parent company.
