Explosive growth in risky investment products sold by China insurers collapsed in the first half after a crackdown on the business, data from the country’s insurance regulator showed.
Analysts have warned that the decline poses liquidity risks for the companies that rushed into the industry, and some could struggle to pay back investors.
New premium income for investment-linked products in China fell to Rmb327.5bn ($49bn) in the first half, down 58 per cent from the same period last year, according to China Insurance Regulatory Commission data.
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