The United States criticized China on Monday for failing to fulfill World Trade Organization commitments to open its financial services market, while the European Union and Japan pressed for answers on specific areas of Beijing’s regulations. “While we welcome China’s …
Catastrophe risk modeling firm AIR Worldwide announced that it has released the industry’s first Multiple Peril Crop Insurance (MPCI) Model for China. AIR said the “new model provides a fully probabilistic approach for determining the likelihood of losses to the …
Xiang Junbo, the man named on Saturday to be China’s insurance regulator, recently led the country’s third-largest lender from near insolvency to a record IPO with assets worth more than India’s national economy. Now Xiang, a war veteran and screenwriter …
Aon Benfield, the global reinsurance intermediary and capital advisor of Aon Corp, has released the latest edition of its Monthly Cat Recap report, which reviews the natural disaster perils that occurred worldwide during September. Published by Impact Forecasting, the firm’s …
Catastrophe modeling firm AIR Worldwide’s latest bulletin on Typhoon Nesat notes that it “made landfall as a moderate Category 1 storm on the northeastern corner of the island of Hainan at 2:30 pm local time (6:30 UTC) Thursday, near the …
Typhoon Nesat hit Hainan Island in south China on Thursday after it swept past Hong Kong, closing financial markets, schools and most businesses in one of Asia’s largest financial centers. China recalled ships and suspended flights and ferry services in …
Two subway trains collided in Shanghai on Tuesday injuring more than 270 passengers, 20 critically, prompting public anger two months after a crash between two high-speed trains and renewing concerns about China’s aggressive rail building plans. The collision occurred in …
Lloyd’s announced that it has issued its first direct insurance policy in China through its fully owned subsidiary – Lloyd’s Insurance Company (China) Limited, in a move which “marks the next step in its strategy to become a major provider …
U.S. energy giant ConocoPhillips moved to repair its frayed relations with Chinese regulators on Wednesday, apologizing for an oil spill in northern China’s Bohai Bay and saying it will establish a fund to address the company’s responsibilities. The company said …
China’s State Oceanic Administration (SOA) has ordered a subsidiary of ConocoPhillips to halt all operations at the Penglai 19-3 oilfield in northern China’s Bohai Bay, saying the company has failed to seal a leak that has lasted more than two …
