FinTech innovations have been booming and flourishing in the past few years. This is particularly true for InsurTech. The driving power for InsurTech innovations has been stronger than ever- thanks to efforts by incumbent insurance companies, Tech Giants, as well as InsurTech startups.
The Hong Kong insurance industry recorded total gross premiums of HK$148.8 billion (US$19 billion) in the first quarter of 2019, an increase of 12.3% y-o-y, according to the Insurance Authority's provisional statistics.
On 10 May, the US administration increased tariffs on $200 billion of Chinese imports to 25% from 10%. In response, China has said it will take retaliatory action. These developments will weigh on global economic growth.
On Sunday 5 May (US time), President Donald Trump signalled his intention to increase tariffs on $200 billion of Chinese imports from 10% to 25% starting Friday 10 May 2019, while another $325 billion of untaxed goods could face 25% duties "shortly".
Last week, China Life Insurance reported its net profits having risen 92.6% year-on-year during the first quarter of 2019, according to the state press agency Xinhua.
As the Asian communities around the world usher in the Lunar New Year with tons of food, firecrackers and traditional lion dance, at Asia Advisers Network, we bring you the freshest news and updates in the insurance industry.
Chinese insurers are unlikely to dramatically alter their investment strategies or modify their asset allocations despite recent encouragement from the China Banking and Insurance Regulatory Commission (CBIRC) to invest their long-term funds in high-quality listed stocks and bonds, long-term equity investments, and securities brokerage firms' asset management plans and trust products, Fitch Ratings says.
What got Asia Advisers Network readers' attention in January? We bring you the best articles that created the most buzz.
When you feel that it's too much work and success is taking too long or that success is elusive because you have been dealt a bad hand in life, remember this man - Li Mingyong. Li is a Guizhou native who has had stints as duck farmer, builder and security guard. But that did not stop him from graduating with a doctorate after 20 years of trying.
China's life insurance sector is forecast to enjoy a golden growth period of around 15 years, according to Shanghai-listed stockbroking company Tianfeng Securities.
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