China

Fitch also highlighted concerns over the insurer’s higher asset and liquidity risks.

It will subscribe to approximately 228 million newly issued shares.

It includes attracting int’l financial institutions to invest in China's property insurance market.

Capital and surplus increased by 2.4% in 2023, reaching $679m.

It focuses on digitalising financial institutions and leveraging data and technology.

The price of the newly included drugs will drop by an average of 63%.

This synergises JD Auto and JD Allianz into Dida’s platform.

Taikang Group’s profitability is supported by its value-driven business strategy.

The sector was valued at $688.8b last year. 

The insurer sees ROE to rise 5% end-2024.

Pension and health products are expected to account for 50% of the market by 2035.

Fitch also forecasts a decline in underwriting profitability through 2024 due to rising claims.

The planned expansions may tap into an additional 100 million potential customers.

Under IFRS 17 and IFRS 9, consolidated capital and surplus rose by 4.8% to $14.4b.

China's insurance sector has maintained steady operation and adequate solvency in the third quarter, according to the National Financial Regulatory Administration.

The notice said banking institutions should continuously optimise financial services.