Foreign insurers eye China's pensions business as Beijing opens up

As Beijing opens up to overseas companies, foreign insurers including Generali and Prudential  are in early talks with authorities to enter China's private pensions sector, Reuters reports. Hong Kong-based AIA Group and Manulife Financial are also gearing up for the $1.6trn pensions business in China, people with knowledge of the matter said. Beijing gave approval to the first foreign joint-venture firm to establish a pensions insurance business last month and two of the people said China has been running pilot projects in three provinces involving foreign firms. Those projects end ...