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Market Chatter: Top Chinese Insurers Start Buying Dimsum Bonds Through Bond Connect

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China's top insurance companies made their pilot purchases of renminbi-denominated offshore bonds, called dimsum bonds, through the Southbound Connect program, Bloomberg News reported Friday, citing insiders.

Ping An Insurance (SHA:601318, HKG:2318), China Life Insurance (HKG:2628, SHA:601628) and Taikang Insurance Group are among the top insurers that have access to the Bond Connect, the sources told Bloomberg.

At least two insurers have bought the dimsum bonds since through the program, the report said.

Ping An and China Life are yet to reply to' request for comment, while Taikang currently does not have an email address.

In a reply, the National Financial Regulatory Administration told Bloomberg that it agreed to some of the insurers' moves to invest in eligible bonds through the program, the report said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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