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 end of 2004.
China's huge insurance asset management market has enormous potential, says Dai Fengju, chairman of CRAMC, which CRAMC aims to develop by leveraging our strong local expertise...
