8 December 2025 | 11:28AM HKT Equity Research CHINA INSURANCE Implications of lower risk factor for equity investments The NFRA announced reductions to C-ROSS risk factors for equity investments and export credit insurance. Per the NFRA, the lower risk factors for equity investment were designed to encourage insurers to have a longer holding period, as they only apply to investments with an average holding period of at least 2 years. While we expect more inflow into equity investment in the coming months, o ...