In May, BYD was granted approval for the purchase of Yi’an Property and Casualty Insurance and insiders suggest its latest move means its nearly ready to enter China's motor insurance market.
Evergrande Group is reportedly in talks to sell a stake in its insurance arm to a Chinese state-backed firm, as the Shenzhen-based real estate conglomerate seeks to alleviate financial pressures and restructure...
The insurer is 80% owned by Chinese sovereign fund Central Huijin Investment and has been established to established with the intent of assume the policies, assets, and branches of Tianan Life Co.
The life market is set to benefit from the country's low penetration, but P&C insurers face challenges such as competitive pricing and rising reinsurance costs.
The pilot scheme provides increased transparency and shared risk, enabling HKECIC to provide credit insurance to exporters trading with private enterprises in China.
Tk.cn's combined ratio improved considerably from 121% in 2021, however Fitch expects the Chinese insurer's capitalisation to decline this year as its insurance portfolio expands.
