Chinese insurance firms have significant risk management deficiencies, as they overly focus on asset management for profits and growth, a senior official at China’s insurance watchdog said on Saturday.
Vice chairman Chen Wenhui of the China Insurance Regulatory Commission (CIRC) said at a forum in Beijing that the insurance industry was “incorrect” in prioritizing asset management over risk management.
“Risk management capabilities are insurance firms’ core competency, not asset management,” financial publisher Caixin quoted him as saying.
(Reporting by Yawen Chen and Ben Blanchard; editing by Clelia Oziel)
Copyright 2026 Reuters. Click for restrictions.
Was this article valuable?
Here are more articles you may enjoy.
NC Roofers Caught in Farm Bureau’s Sting Sentenced to Probation, Restitution 
Seven Charged in $100 Million Workers’ Comp Fraud in Florida 
Viewpoint: How Federal Ban on Intoxicating Hemp Products Will Reshape Risk, Coverage 
Lockton Named in NBA Investigation Into Clippers Salary Cap Circumvention 
