News

'Pivotal moment' for China's insurance rules

Family_insuranceRegulatory intervention is set to transform China's insurance industry to the benefit of established, well-managed incumbents. The prediction, from an equity manager, observes that China's wealth and insurance industries are at an early stage of growth in which competition for assets is cut-throat. “We see regulatory change in the China insurance industry as being at a pivotal moment,” said Yu Zhang, portfolio manager of the Matthews Asia ex Japan Dividend Fund. “Government regulators are keen to reduce potential systemic risk posed by smaller life insurance players who are aggressively grabbing market share without adequate risk management process.” Zhang predicts the competitive landscape will improve for life assurance companies, which will no longer be obliged to focus on fast growth at the expense of dividend payments. ©2017 funds global asia

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