Latest China Headlines
All the headlines from our China Topic Page, ordered by recency.
Euro Zone in Recession as World Leaders Head for Summit
Nov 14 2008 // Recession has struck much of Europe, data showed on Friday, confirming a widespread economic downturn that world leaders hope to tackle at a weekend summit in Washington. The worst financial crisis in 80 years has weakened...
Ex-CEO Greenberg Sees Value in AIG Asian Operations
Nov 13 2008 // Maurice “Hank” Greenberg, former CEO of American International Group Inc., said he would consider buying AIG’s Asian life insurance operations if the firm were to put this flagship business on the...
Ratings Recap: Arch Re (Europe), Singapore Re, AIG (Taiwan), Eurasia, Hyundai (China)
Nov 10 2008 // Standard & Poor’s Ratings Services has assigned its ‘A’ counterparty credit and financial strength ratings to Arch Reinsurance Europe Underwriting Ltd. (Arch Re Europe), a newly formed Ireland-based...
Business Moves
Nov 2 2008 // The Hartford, Allianz SE The Hartford Financial Services Group Inc. finalized a $2.5 billion capital investment by Allianz SE. Under the agreement, Allianz purchased, at $31 per share, $750 million of preferred shares...
China Says Greenhouse Gas Emissions Catch up with U.S.
Oct 29 2008 // China’s greenhouse gas emissions have caught up with the United States and will not fall any time soon, a top Chinese official said on Wednesday, while warning of a huge economic blow from global warming. The...
China’s Life Insurers Post Disappointing Results
Oct 27 2008 // China’s biggest life insurers posted disappointing quarterly results on Monday, hurt mainly by investment income which took a hit from plunging stock markets across the region. China Life Insurance, the...
Lockton Celebrates Opening of Shanghai Office
Oct 24 2008 // Lockton has celebrated the granting of its Wholly Owned Foreign Enterprise (WOFE) insurance brokerage license to operate in China with a Grand Opening of its new Shanghai office. The license was granted earlier this year...
Bank of Beijing Eyes Buying into ING Insurance JV
Oct 21 2008 // The Bank of Beijing, which is 16 percent owned by the Netherlands ING Groep NV, said on Tuesday it is in talks to buy a 50 percent stake in one of ING’s life insurance ventures in China from the venture’s...
Risk Management Solutions Opens Beijing Office
Oct 21 2008 // Newark, Calif.-based Risk Management Solutions has opened a new office in Beijing, China, as a sign of its commitment to support the growth of the property insurance industry and risk mitigation efforts in China. The...
AIR Estimates China Typhoon Insured Losses at $100 to $250 Million
Sep 29 2008 // Catastrophe risk modeling firm AIR Worldwide estimates that insured losses to onshore properties in China from both wind and precipitation-induced flooding from Typhoon Hagupit will be between $100 million and $250...
PCI Tells U.S. Trade Commission China Insurance Link Important
Sep 24 2008 // In testimony before the U.S. International Trade Commission, the Property Casualty Insurers Association of America (PCI) stressed the “importance of the U.S.-China insurance trade relationship.” The PCI also...
CNinsure Sees ‘Slight Decline’ in Revenues from New China Regulations
Sep 22 2008 // China’s CNinsure Inc. announced that its commissions and fee revenues from its P&C insurance business is “expected to decline slightly due to the implementation of a new Working Scheme on Further...
Ratings Recap: AIG (Taiwan) Lehman Re, Swiss Re (Denmark), Connaught, Allianz (Austria), China Ins. (Singapore)
Sep 18 2008 // Standard & Poor’s Ratings Services has lowered its long-term counterparty credit rating and insurer financial strength rating on AIG General Insurance (Taiwan) Co. Ltd. (AIG Taiwan), to ‘A’ from...
Japan Insurers, QBE Seen Eyeing AIG Assets; China Less Likely
Sep 17 2008 // Japan’s well-capitalized and acquisitive insurers and Australia’s top player are seen as potential buyers if reeling U.S. heavyweight AIG sells assets, analysts and fund managers said. However, China’s...
Neb. Sued Over Alleged Illegal Overtime Directive
Sep 12 2008 // A former employee in the Nebraska treasurer’s office has filed a lawsuit against the state alleging he was directed to illegally create a computer program to prohibit employees from filing for overtime. Robert...
Gao to Head Lloyd’s China Re Office
Sep 9 2008 // Lloyd’s announced the appointment of Eric Gao, formerly Director & General Manager of Swiss Re’s Beijing branch, as its new CEO for Lloyd’s Reinsurance Company (China) Ltd. He “will focus on...
Lockton Granted China License
Sep 8 2008 // The China Insurance Regulatory Commission (CIRC) has granted Lockton a Wholly-Owned Foreign Enterprise (WOFE) insurance broking license to operate in the country. Lockton said the new license underscores its “plans...
Lloyd’s in the 21st Century
Sep 1 2008 // The Modernization of Lloyd’s and the London Market Any institution — and there aren’t many — that survives and thrives for 320 years must find ways to adapt to changing conditions. Lloyd’s of...
Feds Charge 11 in Biggest-Ever Identity Theft Case
Sep 1 2008 // Authorities in Boston have cracked what is believed to be the largest federal hacking and identity theft case ever, involving the theft and sale of more than 41 million credit and debit card numbers. Eleven people,...
AIG Buys 18% Stake in China’s MicroCred Nanchong
Aug 28 2008 // American International Group has acquired 18 percent of MicroCred Nanchong, China (MNC). The deal also gives AIG the exclusive right to sell micro insurance to MNC clients for two years. “MNC is the first wholly...
