Ping An Insurance, China’s second largest insurer by market share, is tightening risk management practices as it pushes further into internet finance.
The group, one of nine global systemically important insurers, is attempting to bolster its financial position to meet expected stricter capital adequacy requirements from Chinese and global regulators.
It is also strengthening risk controls in its lending and investment businesses, especially internet finance, a segment that has boomed over the past few years.
“Ping An will keep paying attention to credit risks related to a slowdown of macro economic growth,” Jason Yao, chief financial officer of Ping An Group, told Finance...
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