Chinese P&C insurers are increasing government bond allocations and reducing capital requirements for credit risks, says Mr Frank Yuen, VP senior credit officer at Moody's Ratings.
Insurance giant Ping An has established a CNY10bn ($1.4bn) fund with Shenzhen Guidance Fund, a venture capital fund controlled by the Shenzhen government.
Asia Pacific insurers are reducing their exposure to equity or credit risks, while increasing capital allocations to diversified business growth, says Mr Frank Yuen, VP senior credit officer at Moody's Ratings.
The People's Bank of China (PBOC), the country's central bank, announced yesterday that it would start accepting applications from non-bank financial institutions to join a newly created funding scheme, to boost the stock market.
China International Capital Corporation (CICC), a partially state-owned multinational investment management and financial services company, has recommended stock investors be cautious in chasing listed stocks, including those of domestic insurers.
HSBC has appointed Mr William Chan as global CIO and head of investments for global insurance.
Aviva Investors, the asset manager of Aviva Group, has appointed Ms Sandra Cheng to the roles of CEO, APAC and head of APAC, distribution. In her new role, she will lead all business development and client relationships in the region.
Aviva-COFCO Life Insurance Company's risk-based capitalisation declined to 'Strong' in 1H2024, from 'Very Strong' at end-2023, based on the Fitch Prism Global Model, says Fitch Ratings.
While Sompo Japan Insurance (SJ) is exposed potentially to considerable equity risk from sizeable domestic stocks investments and underwriting risk from expanding overseas insurance business, it appears to have ample available capital to absorb such risks, says AM Best.
The Central Financial Affairs Commission and the China Securities Regulatory Commission (CSRC) have issued jointly guidance to facilitate medium- and long-term funds entering the capital market.