The country's largest insurer Ping An set up a $62 billion green investment target by 2025. Several more players are also joining the hunt for sustainable assets.
The insurer's asset management division believes investments such as private debt could gain appeal as price rises chip away at the value of fixed assets.
Constrained by tight regulation, the life insurer has been unable to invest in offshore assets. Its CIO hopes a new rule later this year will allow it to start doing so.
Executives from AIG and fund house Franklin Templeton want regulators to rethink their approach to risk-based capital in areas such as private debt and some equity strategies.
Prudential Asia’s asset management arm says the senior multi-asset portfolio manager for some of its big participating funds is going on sabbatical after 20 years with the firm.
The country's second-largest life insurer plans a higher allocation to domestic equities and real estate assets. It also intends to focus its attention on US debt.