Three major insurance industry organisations have simultaneously announced separate but linked initiatives to standardise commercial health insurance.
The China Association of Actuaries (CAA) has compiled the first "Commercial Health Insurance Pharmaceutical Coverage Cost Schedule".
The Insurance Association of China (IAC) has introduced three sets of model clauses for commercial medical insurance, establishing standards for insurance coverage, payout criteria, renewal conditions, policy exclusions, and the protection of consumer rights.
China Banking and Insurance Information Technology Management Co (CBIIT) is taking the lead in developing industry data standards for commercial health insurance. For policy clauses and cost tables to be implemented in practice, it is necessary to establish consistent underlying data definitions and standards.
The National Financial Regulatory Administration (NFRA) is planning a systemic overhaul of the rules governing the qualifications of directors, supervisors, and senior management personnel of insurance companies, which have been in effect for over five years.
The National Financial Regulatory Administration (NFRA) planned revamp of the rules governing the qualifications of senior personnel at insurance companies sets out clear criteria for the selection of candidates for the post of Compliance Officer.
The China Re Group is expected to have an enhanced capital buffer and very robust competitive position over the next two years, according to S&P Global Ratings (S&P).
The insurance industry is currently at a critical stage of transitioning from old growth drivers to new ones, according to Mr Zhao Peng, President of the People's Insurance Company of China, speaking at the company's 2026 Investor Open Day held on 6 November.
Law firm HFW has strengthened its global (re)insurance practice and further expanded its China-facing capabilities with the hire of Mr Nelson Wang as Partner.
Seven government agencies have jointly issued a document, titled "Guiding Opinions on Accelerating the High-Quality Development of Shipping Insurance".