China will continue to open up its financial sector and improve rules for foreign banks and insurers entering the market.
The Shenzhen subsidiary of Ping An Property Insurance and the Bank of China branch in Shenzhen have issued the country's first "digital yuan insurance policy".
Sixteen winners from six markets were honoured at the 6th Asia Trusted Life Agents & Advisers Awards (the Awards) ceremony. The deserving winners edged out over 280 nominations from 17 markets. Winners emerged from Hong Kong, Vietnam, Singapore, Thailand and Taiwan, and came from leading insurance companies including AIA, Cathay Life, Manulife, Nan Shan Life, and Prudential.
A State Council executive meeting presided over by Premier Li Keqiang has decided to provide wider farm insurance for 13 major grain production provinces, in order to help farmers fend off risks and stabilise income from planting rice and wheat.
Global insurance brokerage Hub International Limited has launched a new liability/umbrella insurance product designed for transportation clients, to broaden coverage and protect them from potential major losses from nuclear verdicts.
The Financial Services Commission (FSC) has given preliminary approval for a non-life insurance licence for Kakao. This is the first time a non-insurance company has been approved to offer digital insurance services.
Overall general insurance business in Hong Kong has seen a 55.6% jump in underwriting profit to HK$512m ($66m) for the first three months of this year compared to HK$329m for the corresponding period last year, according to data from the Hong Kong Insurance Authority.
Global insurer Willis Towers Watson (WTW) has launched a new sports & entertainment (S&E) industry group that will support its global network with S&E organizations to identify, mitigate, and transfer risks associated with the sector.
The CBIRC has issued "Regulations on the Management of Reinsurance Business (Draft for Comment)", containing proposed revisions to reinsurance regulations that were last updated in 2015.
Flood insurance company Neptune Flood has announced the launch of a new website to streamline the process for small business administration (SBA) borrowers to secure commercial flood insurance.