For Chinese Insurers, Is Party Over?
(Beijing) — These days, Chinese insurers aren’t the cash cows that they used to be.
Well, that they shouldn’t have been in the first place.
Returns from investing in Chinese insurance companies are dropping from their recent peak as the government regulator tries to keep opportunistic money out of the ballooning sector. The China Insurance Regulatory Commission (CIRC) has not issued any new operating licenses since March. Meanwhile, it has banned insurers from selling exotic insurance policies that are in fact high-risk investment products and has made it more difficult for investors to sell their stakes in the insurers for quick cash.
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