Insurance asset management in China: a boom in the making

We forecast that total assets managed by insurers in China will reach CNY 22 trillion next year. New guidelines around popular Insurance Asset Management Products (IAMP), which are different from traditional wealth management products (WMP), will spark further growth in asset management. The guidelines will present insurers more choice of investment vehicles and duration matching, and attract new sources of long-term funding for large infrastructure projects.

Key takeaways

  • Total assets managed by insurers to grow by 10% annually.

  • A key driver will be Insurance Asset Management Products (IAMP) which currently account for a small share of assets. We forecast 20% growth in IAMP in 2020.

  • New guidelines on IAMPs will attract new long-term investment demand from insurers and others, including banks, state-owned enterprises and local governments.

  • With access to greater choice of long-term investment vehicles, insurers will have more options for duration matching.

  • IAMP will also bring new sources of long-term investment into important infrastructure projects, supporting overall economic growth and resilience in China.

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Economic insights Insurance asset management in China: a boom in the making

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