Allianz buys Goldman’s Taikang stake
Trivium
The move is a further investment on Allianz’s part into its China strategy.
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Insurance (General)
247 posts
CBIRC vice chairman Wang Zhaoxing steps down
After the merger of the CBRC and CIRC in 2018, vice chairmen from both organizations were brought aboard the newly formed CBIRC from their previous posts. Given the surplus of …
MoF issues new finance supervision rules
Better supervision of financial firms is a major element of the wider de-risking effort being undertaken by Chinese regulators. These rules are designed to…
CBIRC quizzes chief actuaries over annuity interest rates
The CBIRC’s latest attempt to de-risk the insurance sector centers around ensuring uniformity and compliance in the setting of interest rates – as well as the capping of rates to make sure that companies do not …
CBIRC strengthens on-site inspection framework
Chinese regulators continue to push for greater compliance across the financial industry as concerns about undisclosed problems mount in the wake of the Baoshang Bank takeover and similar issues at other regional banks. Regulators view onsite inspection, as well as building greater regulatory discipline…
China Life to debut China’s first internet life insurance company
Online insurance is still a nascent business in China and one which carries significant risk. In 2018, the premiums of the four extant internet insurance companies increased, but the companies still …
Liu Haoling approved as New China Life Insurance chairma
Prior to his selection by New China Life’s board in August, Liu held various positions at the state-owned Central Huijin Investment Company Ltd., from 2011 to 2019, including deputy general manager and …
Hong Kong insurance connect placed on hold
Hong Kong’s on-going protests were also likely a factor in the decision to postpone the rollout of the insurance connect. The protests are already affecting Hong Kong’s insurance industry, with sales of Hong Kong insurance products to …
CBIRC enhances supervision of affiliated parties
The CBIRC’s attempts to impose greater oversight on affiliated entities is in keeping with the broader efforts of financial regulators to disentangle the ambiguous relationships between parent companies and their subsidiaries. Such ambiguity has previously provided …
CCCDR focuses on improving key financial infrastructure
The fact that the CCCDR discussed these issues highlights that top policymakers are still highly focused on improving the financial system – and ensuring that it does a better job of financing real economic growth. Foreign financial institutions operating in China should …