China Re ties with Swiss Re for asset mgt
China licenses the first insurance asset management company with a foreign shareholder.
The China Insurance Regulatory Commission (CIRC) has licensed China Re Asset Management (CRAMC) as the country's first insurance asset manager with a foreign shareholder, Swiss Re Asset Management Asia. CRAMC will begin operates in late February, focused on managing the capital assets of China Re as well as expanding to serve both life and non-life insurance companies in China.
According to the CIRC, assets in China's insurance industry grew to Rmb1.2 trillion ($143 billion) by the…
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