Latest China Headlines
All the headlines from our China Topic Page, ordered by recency.
Extreme Weather is New Normal, U.N.’s Ban Tells Climate Change Talks
Dec 5 2012 // Extreme weather is the new normal and poses a threat to the human race, U.N. Secretary-General Ban Ki-moon said on Tuesday as he sought to revive deadlocked global climate change talks. Ban’s intervention came as...
China’s Ping An Considers Legal Action vs. NY Times after Family Wealth Exposé
Nov 26 2012 // China’s second-biggest insurance company has threatened to take legal action against the New York Times for reports that Premier Wen Jiabao’s relatives had accumulated massive wealth, largely through holdings...
AIG, Others to Take up Half of China PICC’s $3.6 Billion Hong Kong IPO
Nov 21 2012 // Chinese state-owned insurer PICC Group has secured pledges from American International Group (AIG) and other investors to buy about half of its up to $3.6 billion IPO, set to be the biggest in Hong Kong in two years. The...
HSBC in Talks to Sell $9.3 Billion China Ping An Stake
Nov 19 2012 // HSBC said it was in talks to sell its $9.3 billion stake in China’s Ping An Insurance, stepping up a program by Europe’s biggest bank to shed non-core parts of its business to boost profitability. HSBC spent...
UPDATE: China’s PICC in Talks with AIG as Buyer for $4 Billion HK IPO
Nov 16 2012 // China’s PICC Group is in talks with American International Group and others to become cornerstone investors for its planned listing worth up to $4 billion, in what will be Hong Kong’s biggest IPO in two...
Judge Urged to Approve Chinese Drywall Settlements
Nov 15 2012 // Attorneys for thousands of Gulf Coast property owners urged a federal judge in New Orleans to give his final approval to a proposed class-action settlement that calls for a Chinese drywall manufacturer to pay hundreds of...
China’s PICC Group to Raise up to $4 Billion in Hong Kong IPO
Nov 15 2012 // Chinese state-owned insurer PICC Group started meeting institutional investors in Hong Kong on Thursday to gauge demand for a listing worth up to $4 billion, braving a slump in equity deals with the city’s largest...
China’s State Insurers Give ‘Thumbs Up’ to Party with 50-year Bond Buy
Nov 14 2012 // China’s state-owned insurers gave a vote of confidence in the ruling Communist Party as it winds up its five-yearly congress on Wednesday, taking the long view by snapping up a 50-year bond at a low rate. Sovereign...
Va. Court: Chinese Drywall Damage Excluded From Homeowners Policy
Nov 5 2012 // The Virginia Supreme Court ruled last week that home damages that were allegedly caused by Chinese drywall are excluded from TravCo Insurance Co.’s “all risk” homeowners insurance policy. TravCo Insurance...
Xchanging Unveils Plans for More Asian Expansion
Nov 5 2012 // Xchanging, the business process, procurement and technology services provider and integrator, has announced its intention to open new delivery centers at two locations in Asia. The service provider already operates in 11...
China’s Ping An Insurance Reports Profit Up 20.6%
Nov 1 2012 // Ping An Insurance Co. of China said its quarterly profit rose 20.6 percent on strong premium growth but warned tougher conditions are ahead. Ping An said it earned 2.1 billion yuan ($337 million) in the three months ending...
CNinsure Opens First Sales Support Group
Oct 18 2012 // Chinese insurance intermediary CNinsure Inc. is setting up CNinsure Sales Service Group Company Limited, which it said is the first insurance sales service group company in China. The new group will officially launch...
China Life Warns on Profits
Oct 17 2012 // China Life , the world’s largest insurer by market value, warned of a 55 percent fall in profits in the first nine months – pointing to its first quarterly loss since 2008. The warning from the state-controlled...
McKinsey’s Casserely to Succeed Plumeri as Willis Group CEO
Oct 17 2012 // Dominic Casserley will serve as the next chief executive officer of global insurance broker Willis Group Holdings, effective Jan. 7, 2013. Also, Steve Hearn, currently the chairman and CEO of Willis Global, will serve as...
Worker’s Injury Sheds Light on China’s Workers’ Comp System, Apple Contractor
Oct 12 2012 // Apple Inc.’s largest contract manufacturer has been pushing for a Chinese worker left brain-damaged in a factory accident to be removed from the hospital in a case that throws a harsh new spotlight on labor rights in...
Northern California-based Broker Group to Meet in Shanghai
Oct 9 2012 // The Worldwide Broker Network, a group headquartered in San Mateo, Calif., will hold an owners conference in Shanghai, China on Oct. 17 through Oct. 20 12. The event is expected to draw a gathering of roughly 150 owners and...
Best Special Report Sees China as a Market in Transition
Oct 9 2012 // “The Chinese insurance market is in a state of transition: after a period of rapid expansion, the market must now adjust for sustainable and healthy growth,” concludes a special report from A.M....
Aon Benfield’s Monthly Cat Recap Focuses on $7.5 Billion Asian Flood Losses
Oct 5 2012 // Asian flood losses during the third quarter of 2012 aggregated more than $7.5 billion in economic losses, of which China was the worst hit by two separate flood events that affected several provinces. “The most...
Lawmaker Warns of New Cyber Threats to U.S. Financial Networks
Oct 5 2012 // The head of the House of Representatives Intelligence Committee said on Thursday that significant new cyber threats to U.S. financial networks appeared to be emerging from an “unusual” source. Committee...
Best Upgrades Hyundai Marine & Fire, China Sub’s Ratings
Oct 3 2012 // A.M. Best Co. has upgraded the financial strength rating (FSR) to ‘A’ (Excellent) from ‘A-‘ (Excellent) and issuer credit rating (ICR) to “a” from “a-” of South Korea’s...
