Sep 13, 2023 09:49 AM

CX Daily: The Slow-Burning Insurance Crisis Unfolding in the Shadows

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日前，金监总局人身保险监管部下发《关于规范银行代理渠道保险产品的通知》，要求各家人身险公司应当从即日起，在产品备案时，要将银行代销产品的精算报告中明确说明费用假设、费用结构，并列示佣金上限。图：视觉中国

Insurers /

In Depth: The slow-burning insurance crisis unfolding in the shadows

Banks and local government debt usually grab the headlines when it comes to risks in China’s financial system. But insurance, a sector traditionally associated with caution and prudence, has quietly turned into a slow-burning crisis for regulators.

A crackdown on risky activities among many private insurers linked to troubled financial conglomerates has failed to stem deepening problems in the sector, many of which erupted in 2017 after a string of scandals and the downfall of the head of the insurance regulator.