In 2024, China's insurance asset management sector extended the growth trajectory it had regained in the previous year, with both revenue and profits accelerating. According to compiled data, the country's 34 insurance asset management firms generated a combined revenue of CNY41.6bn ($5.75bn), up 14.4% year on year. Aggregate net profit rose by 18.07% to CNY18.35bn.
Chinese insurance intermediary Shouhui Group has cleared its listing hearing with the Hong Kong Stock Exchange (HKEX), moving a step closer to its mainboard initial public offering. The company, backed by Huatai International and CICC as joint sponsors, is best known for operating under the brand Xiaoyusan (literally 'Little Umbrella').
Despite strong policy support and rapid technological advancements, China's NEV market is facing mounting consumer dissatisfaction.
Singapore-based real estate asset manager CapitaLand Investment (CLI) has established its first onshore RMB-denominated master fund in China, according to Securities Times on May 21. The fund, officially named the CapitaLand RMB Master Fund, has a total committed capital of CNY5bn ($690.6m) and is expected to support up to CNY20bn in assets under management (AUM) upon full deployment.
Recently, a severe hailstorm struck multiple areas in Beijing, with reports of hailstones exceeding 3cm in diameter and causing significant property damage. Ping An P&C, a subsidiary of Ping An Insurance, launched its emergency response plan, coordinating resources across risk control, claims, and product teams. The company mobilized over 2,000 personnel from 38 branch offices for remote support and dispatched 43 claims experts from provinces including Hebei, Shandong, Henan, and Liaoning to assist with disaster response.
China's insurance industry is entering a critical phase of structural expansion and capacity building, according to China Re president Zhuang Qianzhi.
These are the highlights for all events and updates across the industry this week.
These are the updates on insurance regulation across China this week.
The APAC region, particularly in South Korea and Japan, experienced significant wildfires, floods and earthquakes in the first quarter of 2025 leading to billions of dollars in economic and insured losses, according to an Aon report.
Recently, 65 insurers had disclosed their average premium per vehicle. The data shows that per-vehicle premiums ranged from a high of CNY5,600 ($784) (Hyundai Insurance) to a low of CNY608.17 (Xin'an Auto Insurance). Among them, 42 insurers - more than 60% - reported average premiums below CNY2,000($280). Nearly 60% of companies saw year-on-year increases.