Insurance intermediary licences are now being offered at basement bargain prices, compared to once-high prices demanded when many investors rushed to acquire such licences.
ZhongAn Online P&C Insurance has entered into a Sale and Purchase Agreement to purchase two pieces of property on the Bund in the prime district of Huangpu in Shanghai for CNY1,436.6m ($199.1m).
Exporters in China which took part in a survey on global trade are most worried about the intensification of the China-US trade war, says the "Allianz Trade Global Survey 2024" report.
The European Union Chamber of Commerce in China has released its "European Business in China Business Confidence Survey 2024", which shows that despite the re-opening of China's borders in early 2023, business confidence in the market continued on a downward trend.
The announcement by the National Financial Regulatory Administration (NFRA) earlier this month that it is removing limits on the number of insurance companies in bancassurance arrangements with banks is expected to have a considerable impact on the insurance market.
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.
The mainland Chinese motor insurance industry is set to grow at a compound annual growth rate (CAGR) of 5.4% from CNY912.2bn ($127.4bn) in 2024 to CNY1,125.7bn ($158.9bn) in 2028, in terms of gross written premiums (GWP), forecasts data and analytics company GlobalData.
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.
The Communist Party branch of the Resolution and Disposal Department of the National Financial Regulatory Administration (NFRA) has stating that it will improve the resolution process for insolvent financial institutions that will give priority to self-rescue funds to absorb losses, and explore the use of private capital to participate in the restructuring of ailing small and medium-sized financial institutions.
The stability of Guoren Property and Casualty Insurance's underwriting profitability is expected to be tested, says Fitch Ratings.