China
China to lift 50% foreign ownership cap on life insurers
China is considering easing the 50% ownership cap on overseas life insurers buying domestic companies in the biggest shakeup of the industry in almost two decades.
China’s ‘barbaric’ insurers continue to invest in risky assets
Life insurers in China will continue to invest in risky assets, despite a recent clampdown by the country’s insurance regulator amid a string of high-profile suspensions over stock market speculation, according to a report by Moody’s Investors Service.
Guaranteed funds ordered to change their names in China
The 151 guaranteed funds sold in China, will henceforth be called “risk-hedging strategy funds” to reflect their potential risks, according to the new guidelines released by the China Securities Regulatory Commission.
China’s asset management industry tops $7.5trn
Assets under management across mainland China rose by 36% to 51.8trn renmimbi ($7.53trn, £6.0trn) in 2016 according to data from the semi-official Asset Management Association of China (AMAC).
China gives the green light to first online-only life insurer
Hetai Life Insurance has received approval from China’s insurance regulator to start operating as the country’s first-ever online life insurer.