2024 marks the fifth year of the establishment of the Dajia Insurance Group in June 2019 by the Chinese authorities to take over the operations of the now-defunct Anbang Insurance Group.
Nine pension insurance companies in China posted a combined net loss of CNY414m ($57m) for the first quarter of this year, according to data from the companies' quarterly solvency reports. Among the nine, five were profitable during the period while four reported net losses.
The combined fund size in Turkiye's Private Pension System (BES) and Automatic Pension Enrollment System (OKS) has crossed TRY1tn ($31bn) for the first time, according to a statement from the Insurance Association of Turkiye (TSB). The total number of subscribers has reached 16.39m.
The Association of Pension Trustees and Administrators of Kenya (APTAK) has called for mandatory pension savings for all citizens to ensure financial security and stability for individuals in their retirement years.
China's five major 'A'-share listed insurance groups posted a cumulative insurance premium income of CNY1.25tn ($176bn) in the first four months of 2024, 1.47% higher than in the corresponding period in 2023.
Insurers in China have begun to consider converting the coverage of existing life insurance policies to pension annuities, notes the mainland Chinese law firm Anjie Law.
Brussels-headquartered Ageas, Belgium's biggest insurer, has announced that it had reached an agreement with China Taiping Insurance Holdings (CTIH) to subscribe to the capital increase of the latter's wholly-controlled subsidiary Taiping Pension Co (TPP) for a total consideration of CNY1,075m ($151.3m).
The Financial Services Council's (FSC) latest Financial Resilience Index tracker indicates that the outcomes of some economic decisions made since the start of the COVID-19 pandemic are really biting across New Zealand.
The National Financial Regulatory Administration (NFRA) has issued guidelines on high-quality development in the financial sector, focusing on five areas: FinTech, green finance, inclusive finance, pension finance, and digital finance.
China Life Insurance Group has launched a CNY10bn ($1.39bn) fund to target investments in the silver economy, a move which is in line with national government policy.