Foreign business lobbies have asked China to substantially revise proposed cyber security regulations for the insurance industry, signaling a dispute that started with the publication of similar bank technology rules earlier this year may widen. The draft regulations, announced by …
Lloyd’s China, Tokio Marine Kiln and People’s Insurance Company of China Property and Casualty Company (PICC P&C) signed a memorandum of understanding (MoU) to provide intellectual property infringement liability insurance in China. Signed on Oct. 29 at PICC’s head office …
Validus Holdings Ltd. has appointed Ellie Zhou as underwriting manager for Greater China to support the Validus Groups’ existing Chinese customers and expand the firm’s business in the region. China is one of the world’s largest and fastest-growing insurance markets …
Ping An Insurance (Group) Co., China’s second-largest insurer, said third-quarter profit rose 32 percent as higher premium income and banking revenue helped offset the impact of a stock market rout on investment returns. Net income climbed to 13.6 billion yuan, …
Bermuda-based Aspen Insurance Holdings Limited estimates its Aspen Re subsidiary lost approximately $50 million from the August 12 explosion in the Port of Tianjin, China, and from natural catastrophes during the third quarter of 2015. Approximately $30 million of these …
Insurance Australia Group Ltd. scrapped plans for further investment in China and will instead seek growth in other Asian markets, in a sign that Australia’s hopes of boosting services exports to the world’s second-largest economy may be difficult to achieve. …
PartnerRe Ltd. estimates that losses from the August explosion in China’s Port of Tianjin will be between $50 million and $70 million pre-tax and net of retrocession and reinstatement premiums. These losses will be recorded in the company’s third quarter …
Chinese insurers are pursuing strategic tie-ups and outright mergers and acquisitions to tap Western expertise. They are keen for knowledge on products, pricing and technology as a nascent Chinese market for health and property insurance takes off, industry executives say. …
Catastrophe modeling firm AIR Worldwide reports that Typhoon Dujuan made landfall on northeast coast of Taiwan with high winds and heavy rain near Nan’ao Township in Yilan County, late afternoon on Monday, September 28, at approximately 09:00 UTC. AIR described …
Contamination from chemicals is likely to increase the cost to insurers of last month’s blasts in the Chinese port of Tianjin, costs which are already expected to exceed $3 billion, insurance specialists say. While Chinese insurers are likely to bear …
