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International

China: Ratings agencies warn insurers of shadow banking risks

October 30, 2014 Reprints

Ratings agencies have warned Chinese insurers of shadow banking default-risks after a doubling in insurers' trust holdings, reported Bloomberg.

Figures showed that trust products held by insurers reached 281 billion Chinese yuan ($46 billion) as of June from CNY 144 billion at the end of 2013. Standard & Poor's Corp. said insurers' shadow bank assets accounted 13% of their investments, making them "vulnerable in times of stress." Fitch Ratings Ltd. said 51% of the insurers' trust investment focused on infrastructure and property, exposing them to risks from a cooling property market.

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China: Ratings agencies warn insurers of shadow banking risks

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