China’s top banking and insurance regulator said it would encourage insurers to accelerate the development of commercial pension products and accident insurance for gig-economy workers such as couriers and takeout deliverymen. China has in recent years experienced a delivery boom …
China’s Ping An Insurance (Group) Co. has long argued it should be treated like a high-growth technology company instead of a seller of life policies. After a $90 billion plunge in its market value, it’s now priced more like a …
China is inspecting the nation’s financial regulators, biggest state-run banks, insurers and bad-debt managers for the first time in six years to root out corruption in its $54 trillion financial system. A team led by the Central Commission for Discipline …
HONG KONG – China Evergrande Group on Tuesday missed its third round of bond payments in three weeks, intensifying market fears over contagion involving other property developers as a wall of debt payment obligations come due in the near-term. Some …
Cash-strapped China Evergrande Group left its offshore bondholders guessing whether it would pay interest on a bond coupon due Wednesday, despite agreeing to settle debt with a Chinese bank in a $1.5 billion stake divestment deal. With liabilities of $305 …
China Evergrande Group has missed a dollar bond interest payment deadline, moving closer to a potential default and fueling worries about a collapse that could send shockwaves through China’s economy and beyond. WHAT IS EVERGRANDE? Chairman Hui Ka Yan founded …
Debt-laden China Evergrande Group may have another asset to sell in its scramble to raise cash: its fast-growing life insurance business. That’s according to Bloomberg Intelligence analyst Steven Lam, who says the developer’s 50% stake in Evergrande Life Assurance Co. …
SHANGHAI/BEIJING – As fears of contagion from any default by China Evergrande Group mounted this month, some Chinese banks, insurers, and shadow banks stopped offering new credit to property developers, and ran urgent checks on their exposure to the troubled …
China’s banking and insurance watchdog is stepping up scrutiny of the nation’s insurance technology platforms, widening a regulatory dragnet that has roiled global investors. The regulator ordered companies and local agencies to curb improper marketing and pricing practices, and step …
BEIJING – Devastating summer floods in the populous province of Henan in central China are a wake-up call for local authorities to seek better insurance cover against natural disasters, potentially opening up a huge market for insurers in the country. …
