Allianz becomes China’s first fully foreign-owned life insurance company

Life insurance - Allianz

The insurer created a joint venture that has become the first to receive approval of this nature. Allianz has announced that its Chinese life insurance company has received the necessary regulatory approval for becoming the first joint venture-created foreign-owned life insurer in the country. The sheer size of the Chinese market has made it an exceptionally appealing one to foreign insurers. Many financial institutions from countries around the world have been seeking to grow their presences within China. They are looking to enter or broaden their presence in the country’s…

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Men are taking the lead in decision-making across most aspects of financial planning, according to HSBC’s latest report: The Future of Retirement: Why family matters. Conducted by Cicero Consulting across over 17,000 people in 17 countries, with more than 7,300 from Asia, HSBC’s survey explores changing attitudes towards retirement and financial planning. Sixty-eight per cent of Asian men and 65% of men worldwide say they make all or most of the financial decisions in the household, compared to 58% and 53% of women in Asia and globally, respectively. The only…

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