Fosun, Tencent and Citic back latest entrants in Chinese insurance market
Three new insurers, backed by some of China's largest companies, Fosun, Tencent and Citic, have received regulatory clearance to enter the already crowded market. All have a year to prepare their operations for launch before the China Insurance Regulatory Commission conducts its final review.

Fosun United Health Insurance is one of three new insurers, approved on Friday by the Chinese industry regulator. Photo: Shutterstock