Fitch acknowledge the Qingdao-based insurer's strong risk-based capitalisation, but highlighted its short profit record and need for better reinsurance arrangements.
The FSC plans to ease restrictions on overseas subsidiary investments and capital support, to stimulate global expansion from domestic financial companies.
Reuters reports that insurers are looking to increase premiums or revoke coverage for ships sailing to Ukraine following Russia's disengagement from a U.N.-supported grain trade agreement.
A McKinsey reports suggests the region is in the midst of a digital revolution and that embedded insurance could experience significant growth and venture capital investment.
