Monday, July 24, 2017

China

China continues to rein in financial risks

China continues to rein in financial risks

Insurers in the country are now barred from offering credit products to companies for financing.

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Foresea Life to set up Communist Party committee

Foresea Life to set up Communist Party committee

The move follows Xi Jinping’s call for the enhancing of Party leadership in financial operations.

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Chinese insurers advised to divest non-core assets

Chinese insurers advised to divest non-core assets

An official from the the China Insurance Regulatory Commission has cautioned against a wide range of risks facing the industry.

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Ping An eyes fintech, healthcare assets abroad

Ping An eyes fintech, healthcare assets abroad

China’s largest insurer by market value is on the hunt for assets in the US, Israel and Singapore.

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China considers experienced graft-buster for top CIRC post

China considers experienced graft-buster for top CIRC post

China is likely to name Yang Xiaochao, secretary general of the Central Commission for Discipline, to oversee the industry.

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Swiss Re and Ping An combine to launch typhoon solution

Swiss Re and Ping An combine to launch typhoon solution

The two companies have launched China’s first mobile-enabled typhoon property parametric insurance solution.

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China overtakes Japan

China overtakes Japan

The outlook for Asia’s insurance markets is varied, as China becomes the world’s second-biggest premium pot.

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China drafts rules on endowment insurance

China drafts rules on endowment insurance

CIRC is in the process of crafting regulations as part of preparations to launch a pilot programme before full implementation.

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Premium growth defies weak economies

Premium growth defies weak economies

Advanced economies were the main drag on global premiums, but growth in many emerging markets slowed also.

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China to develop commercial pension insurance

China to develop commercial pension insurance

The government will fast-track the development of the new system, according to a State Council guideline.

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Emerging Asia to drive premium growth

Emerging Asia to drive premium growth

Asian emerging markets will help global insurance premium growth accelerate to 5.9% during the coming decade.

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China’s ZhongAn files US$1.5bn IPO in Hong Kong

China’s ZhongAn files US$1.5bn IPO in Hong Kong

China’s first internet-only insurer may launch its initial public offering before the end of the year.

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Chinese majors target more overseas investments in 2018

Chinese majors target more overseas investments in 2018

About 64% of mainland insurers are planning to increase allocation to international markets, says Standard Life.

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CIRC crackdown hits universal life sales

CIRC crackdown hits universal life sales

Premiums are down 59% year-on-year on the back of an aggressive campaign to tame market players.

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Anbang sues former owners of Tongyang Life

Anbang sues former owners of Tongyang Life

In a case of buyer’s remorse, the Chinese insurer has complained that the sellers deliberately concealed risks.

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Outlook on China’s life market remains negative

Outlook on China’s life market remains negative

Profitability and capitalisation are expected to weaken, according to Moody’s Investors Service.

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China launches catastrophe insurance research centre

China launches catastrophe insurance research centre

The centre will be the country’s first research institution focusing on major disasters.

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CIRC issues new regulations to rein in credit risks

CIRC issues new regulations to rein in credit risks

China’s insurance watchdog is seeking to standardise insurance businesses and protect the industry from credit risks.

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Alexander Howell, Swiss Re Corporate Solutions

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SUMMER 2017

House of cards

From supply chains to cyber, we discuss emerging risks with a roundtable of Singapore risk managers