Beijing Warns Three Major Insurance Companies Over Foreign Investments

China’s government took further steps to clamp down on the nation’s insurance sector by issuing warning on Saturday to three major insurers related to their overseas investments, just one day after the government seized temporary control of Anbang Insurance Group. China Insurance Regulatory Commission (CIRC) issued warning notices to Ping An Insurance (Group) Co. of China, New China Life Insurance and China Re Asset Management Co., saying they had violated official rules regarding overseas investments. The notices did not, however, provide …

Ant Financial’s Agriculture Insurance Joint Venture Gets Regulatory Green Light

An agriculture insurance joint venture between Ant Financial Services Group and China United Insurance Holding Co. has received a green light from China’s insurance regulator, making it the first agriculture technology company co-established by an insurer to achieve regulatory approval from the China Insurance Regulatory Commission (CIRC).