With the world's attention focused on the biggest US bank failure since 2008, central banks in the region rush to reassure investors that local banking systems remain resilient. Some asset owners like NPS acknowledge they have direct investments in Silicon Valley Bank.
In 2018, the German group got the green light to set up the first wholly foreign-owned insurance firm in China. The trailblazing process has since moved the needle for foreign insurers seeking to set up shop on the mainland market.
Official implementation framework announced this month expands investible universe for China’s private pension scheme, allowing more products and fund managers a slice of the trillion-dollar market.
A bullish message of Hong Kong's re-emergence was conveyed by a stellar cast of speakers at the Global Leaders' Summit.
Singapore’s GIC teams up with Dutch pension fund APG to acquire a substantial stake in hospitality brand The Student Hotel valued at $2.22 billion; Omers Infrastructure plans to take over Australian mobile tower assets developer Stilmark for undisclosed sum; Malaysia's Employees Provident Fund reported an 18% decline in gross investment income for Q1 2022; and more.
Singapore's GIC is linked with KKR in a joint bid for the $5.6 billion Australia-based Ramsay Health Care buyout; Japan's GPIF is urged to tap on its $75 billion alternative investment war chest to grow start-ups in the country; Shenzhen-based insurer Funde Sino Life Insurance became the largest shareholder of National Trust; and more.
China to expand commercial pension pilot scheme beyond current six life insurers; the Government Pension Investment Fund (GPIF) of Japan is putting its decision to stop lending shares up for debate; Singapore budget avoids net wealth tax but imposes higher levies on property and luxury cars; APG urges 10 South Korean investee companies to reduce carbon emissions; and more
Regulators are putting banks and insurance firms under pressure to do more to tackle problems such as insufficient risk management, inaccurate information disclosure and inconsistent shareholder management.
The Chinese financial regulator eased the rules around insurance asset management products, which should hasten their issuance and raise their appeal with other investors.
The move will ultimately help to improve insurers’ investment performance and enhance corporate governance standards across the entire investment community.
A new set of rules from the CBIRC will enlarge the investor base for insurance asset management products. This could ramp up investor demand.
As Beijing seeks to expand its pension system it will need to find ways to simplify how the system is managed, instead of maintaining the set of watchdogs that currently have a say.