Latest China Headlines
All the headlines from our China Topic Page, ordered by recency.
Aon Benfield Partners with Shanghai Institute on Typhoon Research
Apr 14 2011 // Global reinsurance broker Aon Benfield and Shanghai Typhoon Institute (STI) of China Meteorological Administration – the only state-funded typhoon research institute in China – have entered into an exclusive strategic...
Goldman Buys 12% Stake in China Insurer
Apr 11 2011 // Goldman Sachs has bought a 12.02 percent stake worth more than $900 million in China’s Taikang Life Insurance Co. Ltd, giving the Wall Street giant a foothold into the world’s biggest insurance...
Goldman Buys 12.02% Stake in China’s Taikang Life
Apr 8 2011 // Goldman Sachs has bought a 12.02 percent stake worth more than $900 million in China’s Taikang Life Insurance Co Ltd, giving the Wall Street giant a foothold into the world’s biggest insurance...
Strong Earthquake Shakes Japan’s Ruined Northeast Coast
Apr 7 2011 // Another Strong Earthquake Shakes Japan’s Ruined Northeast Coast A strong earthquake of magnitude 7.4 shook the northeast of Japan late on Thursday, and a tsunami warning was issued for the coast already devastated by...
Wiring in Faulty Drywall Homes Found to Be Safe
Apr 4 2011 // Federal safety officials have stopped recommending removal of all electrical wiring in homes with problem drywall, a change in the safety protocol that could reduce the cost of remediation. The U.S. Consumer Product Safety...
AIR Releases New Northwest Asia-Pacific Area Wide Typhoon Model
Mar 31 2011 // Catastrophe modeling firm AIR Worldwide has released an enhanced typhoon model for the Northwest Pacific Basin. AIR said the “model, which was released in Version 12.5 of AIR’s CLASIC/2™ and CATRADER®...
Liberty Mutual Authorized to Establish Guangdong Branch
Mar 31 2011 // Liberty Mutual Group announced that, through its wholly owned subsidiary Liberty Insurance Company Limited, it has been granted approval to establish a branch in Guangdong Province by the China Insurance Regulatory...
UK China Ambassador Opens Lockton’s Beijing Branch Office
Mar 25 2011 // A bulletin from Lockton notes that the UK Ambassador to China Sebastian Wood “lauded the work of international insurance brokers helping China to further develop its insurance markets. he was speaking at the official...
No Need to Remove Wiring in Homes with Problem Drywall: U.S. Officials
Mar 22 2011 // Federal safety officials have stopped recommending removal of all electrical wiring in homes with problem drywall, a change in the safety protocol that could reduce the cost of remediation for many homes. The U.S. Consumer...
EU Prods China to Relax Restrictive Bank Ownership Rules
Mar 22 2011 // The European Union is pressing China to relax restrictions on foreign ownership of its banks in order to gain wider access to the Chinese financial markets, the region’s Internal Markets Commissioner said on...
Euler Hermes, China Pacific Team up to offer Trade Credit
Mar 22 2011 // Euler Hermes, the trade credit insurer of the Allianz Group, and China Pacific Insurance (Group) Co., Ltd. (CPIC Group), one of China’s largest insurers, announced that they “have combined their expertise to...
WikiLeaks Cables Show China Regulator Intervened as AIG Crumbled
Mar 11 2011 // U.S. officials believe China’s insurance regulator passed on proprietary information about AIG to its Chinese rivals during the American firm’s collapse in 2008, according to unpublished diplomatic cables. The...
Home Repairs Start on Defective Chinese Drywall in Louisiana
Mar 4 2011 // Repairs are beginning in Louisiana on the first home that contains defective drywall made by a major manufacturer. The home to be repaired by Knauf Plasterboard Tianjin is in Covington. The repairs are slated to begin...
Chang Named Starr Casualty, Greater China Underwriting Manager
Mar 1 2011 // Hong Kong-based Starr International Company, Inc. has announced the appointment of Irene Chang as Underwriting Manager of Starr Casualty for Greater China. She will lead the effort in developing and promoting all Casualty...
Zurich Reduces New China Life Stake to 15%
Mar 1 2011 // The Zurich Financial Services Group announced that it has it reduced its 20 percent stake in New China Life Insurance Co., Ltd. to 15 percent. Zurich said it has “agreed to sell 5 percent to undisclosed...
Louisiana AG: Repairs on Homes with Chinese Drywall Set to Begin
Feb 22 2011 // About 109 Louisiana homeowners impacted by defective drywall will soon see relief as plans are finalized to start the first home repairs, under a court approved pilot remediation program, Attorney General Buddy Caldwell...
Lloyd’s CEO in China Talks on Expansion
Feb 14 2011 // A bulletin on the Lloyd’s web site notes that CEO Richard Ward “met with representatives from the China Insurance Regulatory Commission (CIRC) in Beijing last week, including the commission’s Vice...
Business Moves
Feb 7 2011 // Neace Lukens, Lent Agency Neace Lukens, a Louisville, Kentucky based brokerage firm, recently acquired the Lent Agency, a Dayton, Ohio insurance agency. The merger will add 12 Lent Agency employees, including four...
Climate Change Link to Insurance Losses Decades Away
Feb 7 2011 // Tropical cyclones are expected to cause more damage in the United States and Asia but it could be more than a century before insurers can point to climate change as a factor in losses from storms, scientists say. In a...
Chinese Drywall: Cracks in Coverage Claims?
Feb 7 2011 // Although not in the national news as much lately, Chinese drywall continues to disrupt the lives and finances of thousands of homeowners and other users of the product. In the courts, homeowners are fighting to obtain...
