Latest China Headlines
All the headlines from our China Topic Page, ordered by recency.
Aon Secures First Agricultural Reinsurance Contract in China
May 20 2005 // Aon Re China Limited, a unit of Aon Corp., has secured 100 percent placement of the first agricultural reinsurance contract in China. The contract was awarded by the Shanghai Anxin Agricultural Insurance Co. Ltd. (AAIC),...
New Lloyd’s Research Reveals Underwriters’ Industry Views and Concerns
Apr 19 2005 // Lloyd’s underwriters believe that buyers are more concerned about pricing than current insurance industry investigations – according to new research released Tuesday. The research* also reveals that...
PICC to Form Chinese Life Venture
Apr 13 2005 // China’s PICC Property and Casualty Co. Ltd., the country’s largest P/C insurer, is poised to enter the rapidly expanding Chinese life insurance market with the announcement that it is forming a joint venture...
Horton China Desk Offers U.S. Brokers an Option When Placing Coverage in China
Mar 18 2005 // The Horton Group of Orland Park, Ill., has announced a new facility to assist agents and brokers in the United States with placing and servicing property, casualty and employee benefit covers directly into the...
IAG Plans to Buy 25% of China Pacific Property
Feb 21 2005 // Insurance Australia Group (IAG), the country’s largest automobile and home insurer, is reportedly planning to buy a 25 stake in China Pacific Insurance Co.’s property unit. A report from Bloomberg.com said that...
Best Affirms Rating for China International Reinsurance
Feb 15 2005 // A.M. Best Co. has affirmed the financial strength rating of A- (Excellent) and assigned an issuer credit rating of “a-” to China International Reinsurance Company Limited (CIRe) (Hong Kong). The outlook is...
Zurich Appoints Chen to Head Greater China Group
Jan 24 2005 // Zurich Financial Services Group announced the appointment of Johnny Chen, 45, as CEO of its recently established Greater China business effective March 1, 2005. “In this newly created position, Johnny Chen will...
China’s Guangdong Province Posts $1.2 Billion in 2004 Property Premium
Jan 19 2005 // A report from Beijing (through Yahoo’s news services) notes that China’s Guangdong Province collected property insurance premiums of about 10.1 billion yuan ($1.2 billion) in 2004, up 15 per cent year from the...
RGA to Open Representative Office in China
Jan 13 2005 // Reinsurance Group of America, a reading life reinsurer, announced that it has received approval from the China Insurance Regulatory Commission to open a representative office in China, its eighth location in the Asia...
Best Affirms Toa Re ‘A+’, ‘aa’ Ratings
Jan 7 2005 // A.M. Best Co. announced that it has affirmed the financial strength rating of “A+” (Superior) of Japanese reinsurer The Toa Reinsurance Company, Limited, and has assigned an “aa-” issuer credit...
China Marks 3rd Anniversary of WTO Admission; Drops Locality Limits
Dec 13 2004 // China marked the third anniversary of its official accession to the World Trade Organization (Dec. 11, 2001) with the announcement that it will no longer restrict foreign firms’ access to its insurance market to...
GE Insurance Solutions Details Additions to Global Management Staff
Nov 18 2004 // GE Insurance Solutions has announced the addition of expertise to its Property Insurance & Services, Global Asset Protection business unit. Field Operations Leader Tim Heinze said the unit has had a “great...
WHO Study Finds Auto Accidents in China Kill 600 People Every Day
Oct 10 2004 // A report from the World Health Organization estimates that more than 600 lives are lost and more than 45,000 people are injured on China’s roads every day. People living in low and middle-income countries suffer the...
Willis Acquires Grande Insurance Brokers, Hong Kong
Oct 6 2004 // Global insurance broker Willis Group Holdings announced the purchase of the business portfolio of Hong Kong-based insurance broker The Grande Insurance Broker Limited. Terms of the transaction were not disclosed. Willis...
India – Fascinating, Frustrating and Growing
Sep 20 2004 // This is the second in a series of articles on the Asia insurance marketplace. The next article in this series will focus on Japan and will appear in an October issue of Insurance Journal. An ancient Indian parable tells...
Typhoon Aere Hits Taipei; South China on High Alert
Aug 25 2004 // Even as Typhoon Aere continued to ravage Northern Taiwan and the capital Taipei with 84 mph (140km/h) winds and heavy rains, authorities on the Chinese mainland were preparing for the storm’s arrival. Aere has...
CIRC to Allow China’s Insurers to Invest Foreign Currency Holdings Offshore
Aug 20 2004 // In a widely anticipated move, the China Insurance Regulatory Commission (CIRC) has reportedly announced plans to loosen the country’s tight currency controls by allowing domestic (as well as foreign) insurers to...
Chinese Regulator Approves Willis Joint Venture
Aug 18 2004 // Global insurance broker Willis Group Holdings has received final approval and certification from the China Insurance Regulatory Commission (CIRC), for its joint venture operation, Willis Pudong Insurance Brokers Co., Ltd.,...
China Wakes Up as the World Watches
Jul 19 2004 // This is the first in a series of articles on the Asia insurance marketplace. Part two in this series will focus on India and will appear in a September issue of Insurance Journal. “Let China Sleep, for when she...
China Planning Earthquake Coverage Program
Jul 14 2004 // China wants to build an insurance system in two to three years to protect against natural catastrophes, which officials estimate cause some $17 million in losses every day. China Daily reported that the Insurance...
