Caixin
Oct 27, 2016 12:45 PM
FINANCE

Closer Look: Future Looks Brighter for Insurance Companies' Third-Party Asset Managers

Photo: Shutterstock
Photo: Shutterstock

(Beijing) — As China seeks to develop its capital markets and broaden channels for investment and borrowing to spread financial risk, insurance companies have been winning a bigger slice of a growing pie.

In 2013, firms such as China Life, Ping An Insurance Group and Minsheng Life Insurance got the green light to manage funds for external clients, or third parties, drawing on the firms' expertise in looking after their own money. In addition to taking on assets from smaller insurance companies that lack the expertise and market access of their bigger rivals, these third-party asset managers also manage funds handed to them by other institutional investors that originate from non-insurance sources.

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