By 2120, around a quarter of China's coastal land could be below the sea-level according to a research paper published in the scientific journal Science.
China's insurance sector is expected to double in size in the coming decade amid robust economic growth, making the country a more significant market for Swiss Re, according to Mr Christian Mumenthaler, CEO of Swiss Re Group.
Ping An Insurance (Group) Company of China (Ping An) has announced that its net profit attributable to shareholders stood at CNY36,709m ($5,071m) in the first quarter of this year, a fall of 4.3% compared to the corresponding quarter of 2023.
The provinces of Guangdong, Guangxi, and Jiangxi are among the worst affected by persistent heavy rainfall that triggered severe floods across southern China on 19-23 April, says Aon in its latest "Weekly Cat Report".
The green insurance policy support system will in the main be complete by 2027, says the National Financial Regulatory Administration (NFRA) as it releases a document titled "Guiding Opinion on Promoting the High-Quality Development of Green Insurance" to steer the growth of green insurance business.
Apart from outlining the main goals of green insurance development on both the asset and liability sides, the National Financial Regulatory Administration (NAFR) has spelt out the specific responsibilities of insurers in green insurance development.
The Property and Casualty Insurance Department of the National Financial Regulatory Administration (NFRA) has proposed expanding the floating range of independent pricing coefficients for commercial new-energy motor insurance, among various moves to reduce premiums for new-energy vehicle (NEV) insurance.
Consumers in China rank health risk protection as their first priority in insurance purchases, leading to critical illness (CI) insurance being the product with the highest ownership rate in 2023.
Insurance business in the low-altitude economy is expected to take off as demand grows for related services and regulations are gradually improved which facilitates growth.
Sunlight Agricultural Mutual Insurance (SAM) is highly exposed to catastrophe risk in Heilongjiang province, particularly flooding and drought, given its high business concentration in agricultural insurance and Heilongjiang, says Moody's Ratings.