Live Insurance News

Chinese regulator makes moves to alter rules for foreign insurance companies

January 6, 2021January 5, 2021 Nordstrom

Foreign insurance companies - Beijing China

A draft decision has already been issued to help clarify the changes that may take place. China’s insurance regulator has released an exposure draft regarding the rules applied to foreign insurance companies doing business in the country. The draft is meant to provide clarification of the access standards for insurers from other countries. The standards apply to foreign insurance companies in addition to overseas financial institutions. The details of the draft were released in a document with the title “Decision on Amending Regulations on the Administration of Foreign-funded Insurance Companies…

Insurance industry in China has experienced a profit doubling

January 27, 2015January 24, 2015 H. Cutner

The country saw a profit of 204.7 billion yuan in 2014, which was over twice what was seen in 2013. The insurance industry in China has now recorded a record breaking profit last year, when it recorded a profit of 204.7 billion yuan (about $32.84 billion), which represented more than double the amount that was brought in during 2013, according to data from a regulator. The China Insurance Regulatory Commission released a press document providing insight into the sector’s performance. It showed that the premium investment capital gains from last…

Insurance news in China reveals intentions to invest in foreign real estate

September 5, 2013September 3, 2013 G. Turner

Experts have predicted that these Chinese investors will be making their main focus in large cities. The latest insurance news from China is that their insurance funds are now looking to make investments into properties into the biggest Asian cities outside of its own borders. The prediction is that there will be approximately $14 billion (USD) focused on real estate. This insurance news has indicated that the primary real estate markets could be the largest cities in Hong Kong, Malaysia, Thailand and Singapore. The insurance funds will be focusing on…

Insurance industry in China broke $1.18 trillion last year

January 25, 2013January 25, 2013 H. Cutner

Largest insurers in China have legal problems

The total assets within that country for that sector rose by 22.3 percent last year. According to data from the China Insurance Regulatory Commission, the total assets of the insurance industry in the country rose last year by 22.3 percent. The assets in 2012 increased to the point that they reached $1.18 trillion. This is the equivalent to 7.36 trillian yuan worth of assets in the Chinese insurance industry. The achievement that has just been announced represents the first time that the sector in the country broke the CNY 7…

Insurance industry regulator in China expected to deny HSBC deal

January 10, 2013April 30, 2013

Experts predict that the $9.4 billion sale of the Ping An stake will be rejected. According to media reports, it is expected that the Chinese insurance industry regulator will refuse the sale of HSBC’s stake in Ping An Insurance – a deal worth $9.4 billion – to a conglomerate CP group in Thailand. Should the deal fail, it will be a difficult hit to HSBC and will cause embarrassment among other parties involved. This insurance industry deal was aligned to be the second largest that occurred last year. However, if…