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Stock impact report

China plans to make it easier for foreign life insurers to buy domestic firms - sources [Reuters]

Sun Life Financial Inc. (SLF) 
Last sun life financial inc. earnings: 2/12 05:01 pm Check Earnings Report
Company Research Source: Reuters
China plans to make it easier for foreign life insurers to buy domestic firms - sources HONG KONG, April 9 (Reuters) - China plans to make it easier for foreign life insurers to make controlling acquisitions and large equity investments in domestic peers, five people with knowledge of the matter said, as the country pushes ahead in opening up its financial sector. The plan being drafted by the sector regulator is also part of Beijing’s efforts to bolster the capital levels of small and mid-sized local players, sources said, amid concerns about the impact of the new coronavirus pandemic on their financial foundations. The new rules for the world’s third-largest insurance market after the United States and Japan - worth about $318 billion in premiums according to a Swiss Re Institute report - are likely to be finalised in the second half of the year, sources said. They will pave the way for foreign insurers to acquire a controlling or significant minority stake in a local peer, and run Show less Read more
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