Latest China Headlines
All the headlines from our China Topic Page, ordered by recency.
Ratings Recap: Allied World, China Insurance (Singapore)
Jan 10 2008 // A.M. Best Co. has assigned indicative ratings of “bbb” on senior debt, “bbb-” on subordinated debt and “bb+” on preferred stock to Bermuda-based Allied World Assurance Company Holdings,...
CNinsure to Acquire 60% Stake in Hubei Insurance Agency
Jan 9 2008 // CNinsure Inc., an independent Chinese insurance agency and brokerage company, announced the signing of a definitive agreement to acquire a 60 percent stake in Hubei East Century Insurance Agency Co., Ltd. The transaction...
CNinsure Expands Operation in China’s Zhejiang Province
Jan 4 2008 // CNinsure Inc., an independent Chinese insurance agency and broker, announced that it has signed a definitive agreement with three entrepreneurs to jointly establish Zhejiang Fanhua Tongchuang Insurance Agency Co., Ltd. The...
Top Insurance Stories in 2007
Dec 31 2007 // The debate over climate change captured the world’s attention, including the insurance industry’s, in 2007, while major hurricanes spared the United States’ coastline. The soft market took hold of...
2007: Climate Change Dominates Debate While Soft Market Hits Entire P/C Market
Dec 23 2007 // The debate over climate change captured the world’s attention, including the insurance industry’s, in 2007, while major hurricanes spared the United States’ coastline. The soft market took hold of...
Ratings Roundup: Insurance Australia Group, Bank of China
Dec 21 2007 // Standard & Poor’s Ratings Services has revised its ratings outlook on the counterparty and insurer financial strength ratings on Insurance Australia’s group of companies to negative from stable. S&P...
Willis Expands Global Graduate Program after China Success
Dec 14 2007 // Willis Group Holdings will expand its global graduate program in 2008, following the program’s “huge success” in China. The number of places available to students has risen from 14 in 2007 to 20 in 2008,...
Gore Calls on U.S., China to Act on CO2 in Nobel Prize Speech
Dec 11 2007 // Nobel Laureate Al Gore accepted the 2007 Nobel Peace Prize in Oslo Monday night Dec. 10 with a direct appeal to the U.S. and China to take action to curb greenhouse gas emissions, notably CO2. R. K. Pachauri, the Chairman...
Product Safety to be Discussed at China Talks, Vows U.S. Treasurer
Dec 7 2007 // Treasury Secretary Henry Paulson said that U.S. worries about Chinese product safety will be a major topic at high-level economic talks with China next week. The so-called Strategic Economic Dialogue comes as the United...
China’s CNinsure to Acquire Majority Stake in Insurance Adjuster
Dec 6 2007 // CNinsure Inc., an independent insurance agency and brokerage company operating in China, has announced the signing of definitive agreements to acquire a 60 percent stake in Guangdong Fangzhong Insurance Surveyors &...
Ratings Recap: China (NZ), Hannover ReTakaful, Fairfax, Radian (Europe)
Dec 5 2007 // A.M. Best Co. has affirmed the financial strength rating of B+ (Good) and the issuer credit rating (ICR) of “bbb-” of China Insurance (NZ) Company Limited of New Zealand with a stable outlook. The ratings...
Ping An Buys 4.18% Stake in Fortis
Nov 30 2007 // Fortis, the Belgian/Dutch banking and insurance group, and Ping An Insurance (Group) Company of China, Ltd. jointly announced that Ping An Life Insurance Company of China, Ltd.,a subsidiary of Ping An Group, had acquired...
Lloyd’s Reports on Chinese Market
Nov 13 2007 // Lloyd’s has released a research report on China’s rapidly developing insurance market, which it said “explores the key trends in the Chinese non-life insurance market and the opportunities they present...
XL is Co-sponsor of Second China Leadership Conference
Nov 12 2007 // Bermuda’s XL Capital Ltd. will co- sponsor the China Insurance Industry Executive Leadership Program for the second year. The program is designed to identify and develop future leaders among the People’s...
China Claims Some Progress in Improving Industrial Safety
Nov 6 2007 // A five-year campaign to improve China’s notoriously deadly industrial safety record is gaining steam, with accidental deaths falling by nearly 14 percent in the first ten months of this year, the country’s top...
Business Moves
Nov 4 2007 // AmWINS, London American General AmWINS Group Inc., a national wholesale insurance broker based in Charlotte, N.C., reports it has acquired London American General Agency Inc. Based in San Diego, Calif., London American is...
AIR Worldwide Releases New Typhoon Model for China
Oct 23 2007 // AIR Worldwide Corp. (AIR) released the AIR typhoon model for China. The new probabilistic model will help insurers, reinsurers, and brokers better manage the very high typhoon risk intrinsic to one of the world’s...
Chubb Approved to Form Wholly Owned Chinese Insurer
Oct 19 2007 // The New Jersey-based Chubb Group announced that Federal Insurance Company, a member of the Chubb Group of Insurance Companies, has received approval from the China Insurance Regulatory Commission (CIRC) to convert its...
Taiwan Insurer Approved by Chinese Regulator for Mainland Operations
Oct 16 2007 // Two wholly owned units of Cathay Financial Holding Co. have obtained approval from Chinese regulators to enter the property insurance market on the mainland, the Taiwanese company has said. Cathay Life Insurance Co. and...
AIR Raises Typhoon Krosa Loss Estimates – $200 to $600 Million
Oct 12 2007 // AIR Worldwide’s preliminary estimates of insured losses caused by Typhoon Krosa originally assessed the damage in Taiwan (See IJ web site Oct. 11). However, the storm subsequently crossed the South China Sea, and has...
