Chinese insurers News

China Frees Possible $27 Billion From Insurers to Buy Gold

A pilot program in China that allows insurers to buy gold for the first time could free up billions of dollars of investment in the metal, adding further impetus to a record-setting rally. Prices hit a fresh peak. Ten insurance …

China Asks Insurers to Manage Sufficient Capital and Liquidity Buffers

China’s National Financial Regulatory Administration on Saturday issued guidelines for insurance groups to manage “concentration risks,” asking insurers to hold sufficient capital and liquidity buffers. The guidelines asked insurers to formulate a concentration risk management strategy and mitigation mechanisms and …

China Guides Mutual Funds, Insurers to Invest More in Stocks

China is guiding local mutual funds and insurers to boost their stock purchases in the government’s latest initiative to shore up its ailing equity market as it confronts the threat of higher tariffs. Mutual funds should raise their holdings of …

China Aims to Boost Foreign Investment in Property Insurance Market

China’s financial regulator unveiled a plan on Friday to enhance supervision and support the development of the property insurance industry, according to a statement. The country will support qualified foreign financial institutions to invest in its property insurance market, and …

What Is China’s Planned Financial Stability Law and How Will It Work?

China is moving closer to unveiling its financial stability law, which includes setting up a fund to rescue troubled financial institutions, as part of Beijing’s broader efforts to prevent systemic financial risks in the world’s second-biggest economy. A revised draft …

Ping An Insurance’s Delayed Trust Repayment Shows Lingering Property Woes

Ping An Insurance (Group) Co.’s trust business delayed repayment on a property-linked investment product, showing how the financial giant’s asset-management operations are still reeling from China’s prolonged real estate downturn. Ping An Trust apologized on Wednesday to its customers for …

China Probes Exposure of HK Units of Banks, Insurers to Local Gov’t Debt: Sources Say

China’s financial sector regulator is looking into the exposure of the Hong Kong units of domestic banks and insurers to the country’s local government debt, three sources with knowledge of the matter said, as part of its efforts to contain …

Italy’s Generali to Acquire Full Control of Chinese Non-Life Joint Venture for $108M

Italy’s biggest insurer Generali on Wednesday said it would acquire full control of a non-life insurance joint-venture in China by buying out local partner CNPC Capital for around 99 million euros ($108 million). Generali said it planned to expand its …

Ping An Loses $3.1 Billion in Value on Country Garden Buy Report

A report that Chinese authorities asked Ping An Insurance Group Co. to rescue Country Garden Holdings Co. sent the insurer’s stock sliding, wiping out $3.1 billion from its valuation. Distressed developer Country Garden, on the other hand, jumped 12% to …

China’s Ping An Sold Stake in Country Garden, Has No Plans to Buy the Troubled Firm

Ping An Insurance (Group) Co. said it doesn’t hold any shares in Country Garden Holdings Co. and has no plans to acquire the distressed Chinese developer, refuting a report that sent the insurance giant’s stock tumbling on Wednesday. The insurer …