Generali and Prudential are planning a move into China’s CNY11tn ($1.6tn) private pensions sector, which is forecast to grow by more than 400% by 2019. The companies are in talks with regulators about the move. AIA and Manulife are also believed to be considering expansion into China. A joint venture between Standard Life Aberdeen and Tianjin TEDA International was given approval for a Chinese operation earlier in 2025, while AXA and Allianz have been given permission to own Chinese insurers. Forecasts have said future pensioner numbers in China could put a strain on the system as contributor numbers fall.
Generali and Prudential are planning a move into China’s CNY11tn ($1.6tn) private pensions sector, which is forecast to grow by more than 400% by 2025. The companies are in talks with regulators about the move. AIA and Manulife are also believed to be considering expansion into China. A joint venture between Standard Life Aberdeen and Tianjin TEDA International was given approval for a Chinese operation earlier in 2019, while AXA and Allianz have been given permission to own Chinese insurers. Forecasts have said future pensioner numbers in China could put a strain on the system as contributor numbers fall.