NFRA relaxes capital requirements for insurers to ease solvency pressure, encourage equity investment
There are a few policy objectives behind these rule changes
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Insurance (General)
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NFRA approves seven firms to set up reinsurance operations in Lingang FTZ
Jing Yan
The speed with which these approvals were processed signals regulators’ intent to accelerate the development of the reinsurance industry. China’s reinsurance market remains underdeveloped in relation to its fast-growing primary insurance market…
NFRA calls on insurance companies to speed up claims payments after major flooding, urges more support for water infrastructure
Xiaorui Zhang
The impact of climate change and extreme weather events is becoming a critical issue for insurers globally. However, the issue is particularly acute in China, which has experienced a significant increase in flooding and drought that’s affecting vast swathes of the country…
NFRA releases draft measures to curb illegal activity at financial firms
Financial regulators and anti-corruption watchdogs have been stepping up supervision of the financial sector as the scale of illegal activity and graft has slowly been exposed by the deluge of detentions and prosecutions…
NFRA releases draft measures to strengthen operational risk management of banking and insurance institutions
Howard Shen
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NFRA releases notice to expand scope of tax-deductible health insurance products
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NAFMII announces first batch of sci-tech innovation hybrid securities
Realizing tech self-reliance hinges in large part on money, and leveraging the capital markets to juice innovation is crucial…
Hong Kong insurers see boom in sales to mainland visitors
The strong rebound in sales is hardly surprising given the difficulty that mainland residents faced in traveling to Hong Kong during the implementation of China’s zero-COVID policy. Moreover, insurance products will continue to prove attractive as mainland consumers look for stable, low-risk investment vehicles amid rising global interest rates and increasing economic uncertainty in China…
New financial regulator reviews Q1 insurance sector solvency data
Despite the meeting’s relatively rosy analysis, insurance industry solvency rates have continued to decline under the strain of the implementation of the second phase of C-ROSS and the pressure that falling interest rates have put on insurers’ balance sheets…
CBIRC tells insurers to reduce rate of return on new products
Alex Yang
Falling interest rates have raised regulators’ concerns that insurance companies could be exposed to losses from negative interest rate spreads. There’s also concern that competition for new business may drive some insurers to offer policyholders higher returns than they can earn on their investments…