China

The future of insurance AI is open

MetLife Investment Management will pay $800 million for PineBridge, which manages about $100 billion in assets, according to a statement.

Evan and his older brother Jeffrey are scions of the AIG insurance fortune: Their father, Maurice "Hank" Greenberg, built American International Group into a global colossus.

Baidu Inc.'s Apollo program, which allows customers to hail and ride a fully autonomous robotaxi, has racked up more than 1.4 million public journeys.

With the potential to revolutionize everything from food production and healthcare to financial markets and surveillance, it’s a technology that sparks both optimism and paranoia.

Greg Hingston, who took over as global chief executive of HSBC Holdings Plc’s insurance unit in January, has had a busy quarter.

About 20 nations have signed on to a deal to stop funding foreign fossil fuel projects -- with a last-minute entry by Italy. But the impact of the accord is undermined by the absence of key countries like China.

China Life Insurance Co. posted a drop in third-quarter profit as a slowing economy weighed on the nation’s largest life insurer.

The new regulations allow qualified insurers and brokers to sell online life insurance nationwide while banning those that fail to meet requirements including a 120% minimum solvency ratio for four consecutive quarters, according to rules released Friday by the China Banking and Insurance Regulatory Commission.

This year’s 40% stock dive has cut its price-to-earnings ratio to just above 6, slightly more than the Shanghai Stock Exchange Property Index’s multiple of 5.7 and a far cry from the 20-plus commanded by insurance peers Berkshire Hathaway Inc. and AIA Group Ltd.