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November 15, 2024 -Friday |
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A.M. BESTTV: SURGING LIFE SECTOR BOOSTS INSURANCE GROWTH IN CHINA, SAYS A.M. BEST SENIOR FINANCIAL ANALYST
Friday 02/02/2018
OLDWICK, N.J., Feb 2 (Bernama-BUSINESS WIRE) -- In this A.M.BestTV episode, A.M. Best Senior Financial Analyst Vivian Cheung says that China’s insurance industry is expected to continue its growth, with new rules on short-term life products and growth in non-motor property insurance aiding the market momentum. Click on http://www.ambest.com/v.asp?v=cheung118 to view the entire program. “In 2016, the main factor driving growth in the China insurance sector was growth in the life insurance sector, which grew by a remarkable 36% year over year,” said Cheung. “Growth was mainly driven by relaxation by the Chinese regulator on guaranteed investment returns so that life insurers could offer more short-term products with investment returns that were more attractive than those offered by the banks. For the non-life insurance sector, the growth was mainly coming from the non-motor segment, particularly the credit and liability sectors.” Cheung said that although market growth continued in 2017, the pace of growth slowed. “This was due to a slow-down in the growth rate from the life insurance sector, as the regulator raised a lot of concerns over excessive growth in the universal life product line. The regulator has tried to promote more long-term saving products and protection-type products.” Recent episodes of A.M.BestTV include: - U.S. Life/Annuity Insurers Step Up Use of Reinsurance, Says A.M. Best Director: William Pargeans, director, A.M. Best, reviews a new report that details how life and annuity insurers are using reinsurance for overall risk management, coverage of specific risks, supporting new products and more: http://www.ambest.com/v.asp?v=laparjeans118.
- How U.S. Tax Reform Will Affect Insurers: A.M. Best Senior Industry Research Analysts George Hansen and David Blades examine how the 2017 U.S. tax reform is set to impact a wide range of insurance areas, including reinsurance, reserves, long-tail lines and more: http://www.ambest.com/v.asp?v=taxreform118.
- Record California Wildfire Season Puts Spotlight on Insurers: A.M. Best Financial Analyst Lewis DeLosa and Industry Analyst Bobby Skrabal examine the impact of recent catastrophic wildfires in California, including how these fires might affect insurance underwriting, modeling and reinsurance: http://www.ambest.com/v.asp?v=wildfires118.
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