Five Insurer-Backed Asset Managers Cleared for ABS and REITs

What’s new: China’s financial regulators launched a pilot program to allow insurer-backed asset management companies to engage in asset-backed securities (ABS) and real estate investment trusts (REITs) to further diversify the market.

The first five companies joining the trial include China Life Asset Management Co. Ltd., Taikang Asset Management Co. Ltd., Pacific Asset Management Co. Ltd., PICC Asset Management Co. Ltd. and PingAn Asset Management Co. Ltd., according to the Shenzhen Stock Exchange.