Latest China Headlines
All the headlines from our China Topic Page, ordered by recency.
Aviva Receives New China License
Apr 26 2006 // The U.K.’s Aviva Plc announced that it has received regulatory approval for its joint-venture company, Aviva-COFCO, to open a branch office in the city of Jinan, the capital of Shandong province on China’s East...
Lloyd’s Names Faragher China Re COO
Apr 25 2006 // Lloyd’s has announced that Ian Faragher has been appointed Chief Operating Officer of its new Chinese onshore reinsurance operation in Shanghai, Lloyd’s Reinsurance Company (China) Ltd., effective May...
China Launches Nationwide Insurance Overhaul to Promote Growth
Apr 17 2006 // The China Insurance Regulatory Commission (CIRC) said it will begin thorough investigations into the country’s insurance companies this month to promote the healthy growth of the fledgling insurance market. The...
S&P Assigns ‘A-‘ Rating to Sompo’s Chinese Subsidiary
Apr 17 2006 // Standard & Poor’s Ratings Services announced that it has assigned its “A-” long-term counterparty credit and insurer financial strength ratings to China-based Sompo Japan Insurance (China) Co. Ltd.,...
China Relaxes Foreign Exchange Controls; Insurers to Invest Overseas
Apr 14 2006 // China’s central bank announced on Thursday the relaxation of controls on foreign exchange accounts, simplifying approval procedures for foreign exchange payments in the service trade, and procedures for individuals...
Willis Named Primary Risk Consultant to China Development Bank
Mar 14 2006 // Willis Group Holdings announced that it has signed an agreement with China Development Bank (CDB), “an important economic growth engine in China,” to become its global risk management and insurance...
Generali Posts 15% 2005 Profit Rise to $2.3 Billion; Unveils Growth Plan
Mar 7 2006 // The Generali Group announced impressive preliminary results for 2005 and an ambitious growth plan at a general meeting yesterday, March 6, in Milan. 2005 profits rose 15 percent to €1.918 billion ($2.3 billion). The...
Wethington Named Chairman of AIG Companies in China
Mar 7 2006 // American International Group Inc. (AIG) reported that Olin Wethington, former special envoy on China, U.S. Department of the Treasury, has joined AIG as chairman of AIG Companies in China, a new position. In this capacity,...
Xinhua Finance to Acquire Chinese Risk Manager Beijing Alpha
Mar 3 2006 // Xinhua Finance Limited, China’s foremost financial information and media provider, announced that it has signed an agreement to acquire Beijing Alpha Financial Engineering Company, one of the country’s leading...
Allianz Opens New Office in Shenzhen
Mar 2 2006 // Germany’s Allianz announced on its Web site (www.allianz.com) that it has launched its first joint life and non-life insurance Sales Center in Shenzhen, China. “The Center maximizes the synergies between...
U.S. State Regulators Reaching Out to Foster International Standards
Feb 27 2006 // At a time when they face pressure to bring more uniformity to their own domestic regulatory operations, the nation’s state regulators are also increasingly active in efforts to harmonize the rules governing...
IAG Reports $340.7 Million 6 Month Profit; To Return $147.8 Million; S&P Sees No Rating Change
Feb 23 2006 // Insurance Australia Group Ltd. (IAG), the country’s biggest auto and home insurer, posted a six-month profit for the period ended Dec. 31, 2005 of A$461 million (US$340.7 million). However, overall policy sales...
China Teams with International Expertise to Improve Road Safety
Feb 22 2006 // National and International members of the China seatbelt intervention Steering Committee met this week in Beijing to discuss the progress of a leading project in the province of Guangzhou, which addresses the low usage of...
Generali in Joint P/C Venture with China National Petroleum
Feb 1 2006 // Italy’s Assicurazioni Generali announced that it has received the go-ahead from the China Insurance Regulatory Commission (CIRC), to set up a joint venture to operate in the non-life sector with its partner, China...
XL Opens Representative Office in Beijing; Plans Brazil Join Venture
Jan 31 2006 // Bermuda’s XL Capital Ltd. reported two developments in its global insurance business. It has received the approval of the China Insurance Regulatory Commission to open a Representative Office in Beijing. XL has also...
Best Affirms CIRe’s ‘A-‘ Ratings
Jan 27 2006 // A.M. Best Co. announced that it has affirmed the financial strength rating of “A-” (Excellent) and the issuer credit rating of “a-” of Hong Kong-based China International Reinsurance Company Limited...
Fitch Puts China’s CIIH Ratings on Watch-Negative; S&P Comments
Jan 27 2006 // Fitch Ratings announced that it has placed China Insurance International Holding Co. Ltd.’s (CIIH) long-term rating of “BBB-” and the senior debt rating of “BBB-” assigned to the guaranteed...
Allianz, Goldman, Amex to Acquire 10% Stake in China’s ICBC Bank
Jan 27 2006 // Germany’s Allianz Group, investment bank Goldman Sachs and American Express Company, have agreed to jointly acquire a 10 percent stake in China’s largest bank, Industrial and Commercial Bank of China Limited...
Zurich’s CEO Discusses Industry Issues in Davos Interview
Jan 26 2006 // Zurich Financial Services has released an interview with the Group’s CEO, James Schiro, to coincide with the ongoing conference of international business leaders, being held in the Swiss resort of Davos. Schiro, an...
AIR Worldwide and ISO (U.K.) Open Representative Office in Beijing
Jan 10 2006 // AIR Worldwide Corporation and Insurance Services Office Limited, the U.K.-based provider of personal injury claims and anti-fraud insurance services and solutions, announced the opening of the AIR Worldwide Corporation...
