The National Financial Regulatory Administration has released guidelines to tighten the regulation of online P&C insurance business undertaken by insurers and insurance intermediaries.
In 2023, China's mortality protection gap narrowed by 6% from the year before and the resilience index gained 2.3 percentage points (ppts) to 38.3%. This marks a turnaround after several years of declining mortality resilience and a widening protection gap, says Swiss Re Institute (SRI).
The State Council, which is China's Cabinet, issued guidelines titled "Opinion on Accelerating the Comprehensive Green Transformation of Economic and Social Development" on 11 August.
Most insurance institutions expect a moderate increase in bond and stock investments, maintaining a cautious neutral attitude towards the "A"-share market, in the second half of the year, according to the findings of a survey on investor confidence.
China's motor insurance branch chalked up an underwriting profit of CNY13.50bn for 1H2024, jumping by 56.8% compared to the first half of 2023, according to an analysis of the financial performance of the non-life sector.
The motor insurance branch showed that premiums rose in the second quarter of this year, compared to the first quarter.
Nasdaq-listed Cheche Group, a leading auto insurance technology platform in China, has entered into a partnership with Wuhan Dongfeng Insurance Broker Co as Cheche further diversifies its partner network with leaders in the new-energy vehicle (NEV) sector.
The green insurance premium income of Ping An Insurance (Group) Company of China amounted to CNY37.3bn ($5.2bn) for the 2023 financial year, nearly 49% higher than in 2022.
Hyundai Insurance (China) [HIC] is expected to as a minor player in China's non-life insurance market in the intermediate term, says AM Best. This would be despite the insurer achieving significant growth in its top line.
Over half (55%) of respondents in Macau cite high medical costs as a major obstacle to achieving "medical freedom", according to the results of a survey by Prudential Hong Kong (Macau Branch). In addition, the respondents anticipate needing about an average of 16 years of their household income to ensure medical freedom.