Chinese insurers News

European Companies to Seek Chinese Assets in Sectors Such as Insurance, Healthcare

European companies are expected to hunt for assets in China, mainly in insurance, healthcare and automobile sectors, after the world’s second-largest economy and the European Union agreed to an investment deal last month, lawyers and bankers say. The agreement, which …

Insurer Ping An Taps Rising Demand for Chinese Assets with Offshore Management Arm

Ping An Insurance (Group) Co., China’s largest insurer by market value, is tapping growing global demand for Chinese assets to expand its offshore asset management business as competition with foreign entrants intensifies. The overseas asset management arm aims to increase …

China Regulator Raises Cap on Equity Investments Made by Domestic Insurers to 45%

China’s banking and insurance regulator said it was raising the cap on how much the country’s insurers can invest in equity assets, an effort trying to bring more long-term funds into the capital market. The China Banking and Insurance Regulatory …

China Pacific Insurance Co.’s Shares Rise on $1.8 Billion London Market Debut

Shares in China Pacific Insurance Co. (CPIC) rose on their London debut on Wednesday after the company completed the largest fund raising on the London Stock Exchange in three years, sparking hopes of a revival in the market for initial …

China Urges Local Firms to List in London with China Pacific Insurance Leading the Pack

China is urging domestic companies to look at listing in London, several sources told Reuters, as the country aims to revive deals under a Stock Connect scheme and strengthen overseas ties in the wake of the coronavirus crisis. The Shanghai-London …

HSBC’s Life Insurance Unit to Buy Out Joint Venture Partner in China

HSBC Holdings PLC said on Monday its insurance unit had agreed to acquire its China life insurance venture partner’s 50% stake to own fully the company under the new rules on foreign ownership that came into effect in January. The …

New Business Interruption Insurance Poses Risks to Chinese Insurers, Says Fitch

At the direction of the Chinese government, domestic insurers started selling business interruption insurance to cover Chinese enterprises against disruptions from the coronavirus outbreak, which may have unintended consequences. Fitch Ratings cautions that the move could pose risks to the …

China Plans to Relax Rules on Foreign Ownership of Domestic Life Insurers: Sources

China plans to make it easier for foreign life insurers to make controlling acquisitions and large equity investments in domestic peers, five people with knowledge of the matter said, as the country pushes ahead in opening up its financial sector. …

China Non-Life Insurers See Big Drop in Car Accident Claims in Coronavirus Silver Lining

Chinese non-life insurers are discovering a silver lining to the cloud spreading over China’s economic performance from the coronavirus outbreak – a sharp drop in car accident claims. Beijing’s efforts to contain the new coronavirus have included widespread travel and …

China Will Begin in Earnest in 2020 to Open Its Great Financial Wall

China’s big bang opening of its $45 trillion financial industry begins in earnest next year — a step-by-step affair that’s unfolding just as economic strains threaten the promised windfall luring in global firms. Starting with its insurance and futures markets, …