, Columnist
China's Insurers Don't Know Their Own Risks
Business is booming. Watch out.
Not so safe.
Photographer: Zhang Peng/LightRocketThis article is for subscribers only.
In most countries, insurers are among the most staid and conservative companies in financial markets. In China, they're becoming some of the riskiest.
On the surface, China's insurers seem to be enjoying a golden age. Over the past two years, premium revenue has risen by 88 percent and total assets by 49 percent, while claims are up only 43 percent. The industry now manages some $2.4 trillion in assets.