Latest China Headlines
All the headlines from our China Topic Page, ordered by recency.
AIG Selling $1.2 Billion Worth of Shares in China’s PICC P&C: Report
May 2 2016 // American International Group is offering for sale about $1.2 billion worth of shares in China’s PICC Property and Casualty Co. Ltd. (PICC P&C) in a block deal, IFR said on Saturday, citing a term sheet of the...
China Suspends New Registrations of Internet-Based Finance Firms: News Report
Apr 21 2016 // China suspended new registrations of finance companies nationwide as authorities started a crackdown on internet finance, business magazine Caixin reported, citing unidentified people familiar with the matter. Applicants...
White Mountains Closes $2.6B Sale of Sirius to China Minsheng Investment
Apr 19 2016 // White Mountains Insurance Group Ltd. completed its $2.6 billion sale of Sirius International Insurance Group to a division of China Minsheng Investment Corp. Ltd., nine months after the deal was first announced.Out of that...
Chubb Enters into Distribution Agreement with Chinese Retail Giant Suning
Apr 15 2016 // Chubb Ltd. announced it has entered into a long-term preferred provider distribution agreement with Suning, one of the largest and most recognized retail brands in China. Under the terms of the agreement, Chubb and Suning...
Many Chinese Patients Forced to Buy Hospital Appointment Tickets from Scalpers
Apr 12 2016 // As day breaks, hundreds of patients wait to see doctors in a queue that snakes around the Peking Union hospital in Beijing. Many will wait in vain – “scalpers” like Yu Wei have already illegally bought...
Anbang Insurance to Acquire Allianz’s South Korea Operations
Apr 6 2016 // Anbang Insurance Group Co., which walked away from a bid to acquire Starwood Hotels & Resorts Worldwide Inc. last week, has agreed to buy Allianz SE’s operations in South Korea. The Chinese insurer will purchase...
California Judge Rules in Favor of Lumber Liquidators in Prop. 65 Case
Apr 5 2016 // Lumber Liquidators Holdings Inc. won a tentative ruling dismissing claims that it failed to adequately warn consumers about cancer-causing formaldehyde found in some of its laminate flooring. Monday’s decision is a...
China’s Anbang Insurance Checks Out of Hotel Bid War
Apr 1 2016 // A group led by China’s Anbang Insurance Group Co. withdrew its $14 billion takeover offer for Starwood Hotels & Resorts Worldwide Inc., a surprise move that ends a three-week bidding war and clears the way for an...
Insurance Claims from China’s Tianjin Port Blasts Rise to $3.5B: Swiss Re’s ‘sigma’
Mar 30 2016 // Insurance payouts from the chemical blasts at the Chinese Port of Tianjin last year could total up to $3.5 billion, reinsurer Swiss Re said on Wednesday, in what would be the largest ever man-made loss in Asia. The...
China’s Anbang Insurance Ups Offer for Starwood Hotels to $14B
Mar 28 2016 // China’s Anbang Insurance Group Co. has raised its offer for Starwood Hotels & Resorts Worldwide Inc. to almost $14 billion in its latest challenge to the U.S. hotel operator’s merger with Marriott...
China’s Fosun Weighs IPO for Ironshore, Just 4 Months After Acquiring Insurer
Mar 23 2016 // Fosun International Ltd., the Chinese conglomerate led by billionaire Chairman Guo Guangchang, is weighing a possible initial public offering for Ironshore Inc., just months after acquiring the insurer. Fosun may also...
China Insurer Anbang Offers $6.5 Billion to Buy Major U.S. Hotel Group
Mar 13 2016 // China’s Anbang Insurance Group has agreed to acquire Strategic Hotels & Resorts Inc. for around $6.5 billion, as the owner of New York’s iconic Waldorf Astoria expands its U.S. hotel portfolio, a person...
CNA Hardy Joins Lloyd’s China Platform
Mar 8 2016 // CNA Hardy, a specialist commercial insurance provider for clients within the Lloyd’s and company markets, announced it has joined Lloyd’s Insurance Company (China) Ltd. in Shanghai by establishing CNA Hardy...
Old Mutual’s Stock Gains on Reports It Will Break Up Businesses
Mar 7 2016 // Old Mutual Plc, the U.K.-based financial services firm that is Africa’s largest insurer, climbed on speculation that it is considering a breakup of businesses as part of a strategic review. The company rose as much...
5 Governments Write to China, Expressing Concern over New & Draft Laws
Mar 1 2016 // The United States, Canada, Germany, Japan and the European Union have written to China to express concern over three new or planned laws, including one on counterterrorism, in a rare joint bid to pressure Beijing into...
AXA’s 2015 Net Income Rises 12% on Life Insurance Sales in Europe, Asia
Feb 25 2016 // AXA SA, France’s largest insurer, said 2015 profit rose 12 percent, helped by higher life insurance sales in Europe and Asia. The shares rose. Net income climbed to 5.62 billion euros ($6.2 billion) from 5.02 billion...
AIA 2015 Net Income Drops 22% on Weak Asian Currencies, Market Volatility
Feb 25 2016 // AIA Group Ltd., the third-largest Asia-based insurer by market value, posted a 22 percent decline in full-year profit as weaker regional currencies and stock-market gyrations detracted from business growth. The insurance...
Texas Economist: U.S. in a ‘Pretty Good Place Right Now’
Feb 22 2016 // The world economy may seem like a mess right now but that doesn’t necessarily mean the United States is headed for a recession, according to an internationally recognized Texas-based economist. While the dive in the...
Why Robots Replacing Humans at Work Is More Science Fiction Than Fact
Feb 19 2016 // Ever since robots emerged from the pages of science-fiction novels into the real world, humans have feared being usurped in the workplace. That worry may be more fictional than scientific. A recent study by the VDMA...
A.M. Best Downgrades Ratings of China’s Hyundai Insurance After Tianjin Blast
Feb 18 2016 // A.M. Best has downgraded the financial strength rating to B++ (Good) from A- (Excellent) and the issuer credit rating to “bbb” from “a-” of Hyundai Insurance (China) Co. Ltd., or HIC. Following...
