...why has the sailing been smooth for mature products similar to universal life insurance abroad, while in China things have been so turbulent? (p57)
2017 0623 - IMF - Strengthening Financial and Exchange Rate Frameworks - 230p - [Link to Download page -> Conference ebook]
- Until 1999, there was not any kind of participating, universal, or variable life insurance products in the mainland China.
- This situation is changing.
2000 - SOA - New Trend of Life Insurance Products in China, by Samuel Zhou - 2p
- Restrictions were placed on universal life products, which in China often are more akin to shells for short-term savings. (p26)
2017 0617 - SOA - The Actuary, Society of Actuary - 68p
- The Dynamics of Emerging Asia’s Life Insurance Markets—Findings From a Recent Peak Re Executive Survey, By Franz Josef Hahn
- Positively speaking, life reinsurers are set to benefit greatly from the shift toward protection products that can be observed across emerging Asia.
- China is a particularly striking example: life premiums
contracted by more than 5 percent in 2018, after expanding at a double-digit average rate over the past 10 years. - This drop reflects regulatory tightening affecting sales of short-term universal life policies, in line with the government’s strategic intent to engineer a shift toward protection-type products that address emerging challenges, such as the rise of chronic diseases, and to
mitigate financial risks arising from wealth management–type short-term insurance products.
- China is a particularly striking example: life premiums
- Positively speaking, life reinsurers are set to benefit greatly from the shift toward protection products that can be observed across emerging Asia.
2019 11 - SOA - Reinsurance News, Issue 95, Society of Actuaries - 40p