China
China absorbs $13b loss in natural disasters in H1 2024
The government has allocated $570m for disaster management this year.
China absorbs $13b loss in natural disasters in H1 2024
The government has allocated $570m for disaster management this year.
Southern China floods trigger 18,400 insurance claims
Estimated losses amounted to $86.66m.
Chinese insurers retrieve 18,400 claims for rain damages
Total claimed loss amounted to ~$86.9m.
China's insurance assets surge to $32t
The industry represents only 7% of China's total financial assets.
Japan’s interest rate rise offers lessons for China’s insurers
To manage low interest, Japanese insurers shifted to foreign securities and protection-type policies.
China's insurance premiums increase by 5.1% YoY
Year-to-date, the industry’s assets climbed 10.4%.
China’s LNG regasification segment dominates midstream projects
The 341 billion cubic feet Zhoushan III project will start operations in 2026.
China’s pension system reels 60 million new individuals
Presently, 762 products are offered in the new pension system.
Chinese insurers deem it wise to move to alternative investments
Analysts see new regulations driving a conservative shift as insurers seek stability amidst volatile markets.
China's long-term care insurance sees regulation overhaul
Since its launch, the scheme has covered 180 million people.
What fuels China's digital economy surge
Rising incomes have led to higher consumer demand for seamless shopping experiences.
China's coal-fired power sector expected to see profit recovery
The average spot price in Q1 was lower than the annual average of 2023.
Weak home sales risk worsening Chinese banks' bad loans
Banks’ property loan exposure is expected to fall 6% amidst ongoing caution.
Hong Kong’s wealthy plan to spend HK$870,000 in 2024 travels
Tokyo is their top destination of choice.
Alternative payments lead China's e-commerce with 67.3% share
Bank transfers and payment cards hold a 14.9% share of e-commerce transactions.
China launches world's first 6G test satellite
The low-earth orbit satellite offers low latency and high data transfer rates.
China Life Insurance to see 45% YoY profit slump – Nomura
China Life is the only insurer Nomura covers that has adopted the transition plan for the new accounting standards (IFRS) for insurance contracts.
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PwC Partner: Management must have appropriate risk management policies as business backbone
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There have been continued disruptions in several industries brought by technological advancements.
There have been continued disruptions in several industries brought by technological advancements.
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1. Advanced markets to drive half of new insurance premiums by 2034 2. TENTEN Partners Expands Global Footprint with New Dubai Office 3. APAC data centre capacity to double by 2028: Moody’s 4. CEO on mounting regulatory challenges for APAC insurers 5. PwC Partner: Management must have appropriate risk management policies as business backboneAwards
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