The rapid development of new energy vehicle (NEV) insurance in China brings in new requirements for the country's motor insurance brokers. The traditional motor insurance brokerage model, which relies solely on providing basic intermediary services, has become insufficient to meet market demands. Facing this challenge, motor insurance brokers need to undergo self-innovation and actively involve in digital transformation.
Insurance companies in several flood-hit provinces and regions in China have received a cumulative number of 95,000 claims involving a combined total of CNY3.21bn ($442m) in claim amounts.
China's growing elderly population presents tremendous business opportunities to the financial services industry, Mr Michael Guo, co-CEO of Ping An Insurance (Group) Company of China, has said.
Three in four (74%) investment plans of insurance asset management companies showed positive returns in the first half of the year, among which fixed-income plans performed the best, according to data from Shanghai-headquartered Wind Information Co, which provides financial and economic data.
31 provinces, municipalities and regions in China have released their 2023 population data, with 11 reporting positive growth, according to data released by the National Bureau of Statistics.
Insurance companies in China continued to shutter branches and marketing outlets In the first half of the year, according to data from the National Financial Regulatory Administration (NFRA).
Several major challenges will influence China's climate action in the next five years, according to the findings of an in-depth investigation of China's climate-related policies, politics, governance, and international relations.
More than nine out of 10 (94%) residents in the Greater Bay Area (GBA) have concerns about attaining medical freedom, encompassing worries about high medical costs, a restricted medical network and inadequate access to quality healthcare, according to the "Medical Freedom Survey" released by Prudential Hong Kong yesterday.
Madrid-headquartered MAPFRE RE has obtained official approval on 2 July 2024 from the National Financial Regulatory Administration (NFRA) to open its branch in Beijing. This makes MAPFRE RE the 15th reinsurer to be operating in China.
The Chinese government's "trade-in old cars for new cars" incentive scheme is expected to generate 1%-2% market growth for the motor insurance sector.