Insurance Association of China Wants EVs to Have Spontaneous Fire Coverage autoevolution.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from autoevolution.com Daily Mail and Mail on Sunday newspapers.
Insurer Ping An to acquire stakes in six Raffles City properties from Singapore’s CapitaLand in deal worth up to US$5.1 billion Pearl Liu pearl.liu@scmp.com Raffles City Hangzhou is among the developments in which Ping An plans to acquire a stake. Photo: Handout
Ping An Insurance (Group), China s largest insurer by market capitalisation, plans to acquire stakes in six Raffles City retail and office developments in China from Singapore s CapitaLand for up to 33 billion yuan (US$5.1 billion).
Ping An Life Insurance Company of China, a unit of Ping An, said it will acquire the stakes in Raffles City Shanghai, Raffles City Beijing, Raffles City Ningbo, Raffles City Chengdu, Raffles City Changning (Shanghai) and Raffles City Hangzhou, according to a filing with Insurance Association of China late on Monday. It will buy 60 per cent to 70 per cent stakes in the six companies owning the six properties, which are worth a total of 46.7 billion yuan.
China ageing population, with years of experience in underwriting medical and retirement products has snow-balled into crisis of its state pension system and
China s crisis in state pension system, unlock USD 15.3 trl
21 May 2021, 13:37 GMT+10
Beijing [China], May 21 (ANI): Hong Kong insurance sector is eyeing China s USD 15.3 trillion savings to avert a crisis in its state pension system, the size of the world s second-largest economy.
Georgina Lee and Enoch Yiu writing in South China Morning Post (SCMP), said that China turned to private insurers to help unlock USD 15.3 trillion of savings and avert a crisis in the state pension system as mainland insurers are tasked to convert savings into investment in retirement products as state pension pot seen drying up by 2035.
The China Banking and Insurance Regulatory Commission (CBIRC) on Saturday announced a pilot programme to foster endowment plans offering stable returns over 10 years post retirement, making it part of the third pillar in China s pension system, on top of state-run schemes and corporate annuities.