China
China's long-term care insurance sees regulation overhaul
Since its launch, the scheme has covered 180 million people.
China's long-term care insurance sees regulation overhaul
Since its launch, the scheme has covered 180 million people.
China’s old-age insurance coverage surges by 14.34 million
Revenue of three social insurance funds totalled $309.6b in Q1’24.
China's pension scheme grows to 1.07 billion participants
Total income and expenditure of these schemes amounted to $304b in Q1’24.
Declining yields pose risks to China's insurance sector
In late 2023, regulators eased some C-ROSS rules, prompting insurers to raise capital via perpetual bond issuance.
PICC P&C posts mixed Q1’24 results, eyes stability
Even with a 5% QoQ improvement in investment income, it still saw a 36% YoY decline.
Chinese life insurers cut projections amidst low-interest concerns
Insurers reduced pricing interest rates on traditional products, aiming to lower guaranteed liability costs.
China intensifies healthcare probes over insurance fund concerns
It will be focusing on detecting improper fund usage in critical care,
China launches seven-month crackdown on industry fraud
Since 2021, the nation’s police have uncovered almost 2,000 insurance fraud cases.
Over 1.12 billion in China receive health e-certificates
The e-certificates enables individuals to present a QR code instead of physical insurance cards.
Ping An’s profit dips in Q1’24
Earnings per share were down 4.6% for the quarter.
China Life Insurance’s NVB could see 17% YoY growth: Nomura
Net profit, on the other hand, could contract 15% YoY.
AIA, Prudential grapple with China sales issue: UOBKayHian
However, both companies' exposure to the involved brokers is limited.
AllianzGI expands footprint in China
The company received approval for its FMC business back in August 2023.
Outlooks of six Chinese insurers pressured by sovereign risks
On the contrary, one insurer should experience a stable outlook.
Ping An Life to see 15% YoY NBV growth in Q1’24 – Nomura
A catalyst could be the low base effect in the first two months of COVID restrictions.
China boosts financial services to advance new industrialisation
Insurance funds should provide long-term stable financial support.
Gov’t streamlines China’s medical insurance reimbursement system
One of the payment methods will offer a QR code option.
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Industry executives at Insurance Asia Forum 2024 push the digital mindset in developing an efficient ecosystem.
