The first quarter of 2025 has brought unexpected challenges for China's personal insurance sector, as the traditional peak season for sales cooled significantly.
On April 14, Generali China Insurance (GCI) announced that its shareholder, Assicurazioni Generali (Generali), had resolved to increase GCI's capital by CNY392m ($54.88m) in 2025.
On April 11, National Financial Regulatory Administration (NFRA) issued a notice to enhance insurance group consolidation supervision, aiming to ensure the steady operation of insurance groups and effectively prevent financial risks. The NFRA has revised the "Guidelines for Insurance Group Consolidation Supervision" previously issued by the former Insurance Regulatory Commission and released the 'Measures for the Supervision and Management of Insurance Group Consolidation'.
On April 16, Taikang Asset Management Co (Taikang Asset) announced that its application for the establishment of a wholly-owned private equity fund management subsidiary, Taikang StablePath Private Fund Management Co (Taikang StablePath), had been approved by the National Financial Regulatory Administration. As a result, the second batch of insurance capital long-term investment reform pilots has seen substantial progress.
As the insurance industry undergoes significant transformation, the insurance intermediary sector is grappling with a challenging period of adjustment. Since April, regulatory authorities have revoked the business licenses of three intermediary firms.
As of 5 PM on April 13, insurance companies in Beijing had processed a total of 1,278 claims related to wind damage, with an estimated loss amount of CNY13.44m ($1.87m). A total of 268 claims have already been paid out.
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.
Aon published its Q1 Global Catastrophe Recap - April 2025 yesterday, which analyzed the natural disaster events that occurred worldwide during the first quarter of the year.
China and India are shifting towards meeting their growing electricity needs with clean energy. These are the two countries at the forefront of the drive to clean power and will help tip the balance towards a decline in fossil generation at a global level, according to the sixth annual "Global Electricity Review" published earlier this month by Ember, a UK-based global energy think tank.