Cash-strapped China Evergrande Group left its offshore bondholders guessing whether it would pay interest on a bond coupon due Wednesday, despite agreeing to settle debt with a Chinese bank in a $1.5 billion stake divestment deal. With liabilities of $305 …
China Evergrande Group has missed a dollar bond interest payment deadline, moving closer to a potential default and fueling worries about a collapse that could send shockwaves through China’s economy and beyond. WHAT IS EVERGRANDE? Chairman Hui Ka Yan founded …
Debt-laden China Evergrande Group may have another asset to sell in its scramble to raise cash: its fast-growing life insurance business. That’s according to Bloomberg Intelligence analyst Steven Lam, who says the developer’s 50% stake in Evergrande Life Assurance Co. …
SHANGHAI/BEIJING – As fears of contagion from any default by China Evergrande Group mounted this month, some Chinese banks, insurers, and shadow banks stopped offering new credit to property developers, and ran urgent checks on their exposure to the troubled …
China’s banking and insurance watchdog is stepping up scrutiny of the nation’s insurance technology platforms, widening a regulatory dragnet that has roiled global investors. The regulator ordered companies and local agencies to curb improper marketing and pricing practices, and step …
BEIJING – Devastating summer floods in the populous province of Henan in central China are a wake-up call for local authorities to seek better insurance cover against natural disasters, potentially opening up a huge market for insurers in the country. …
BEIJING – China’s banking and insurance regulator said on Thursday that it will guide insurers to increase investment in natural disaster insurance and enrich product offerings. It also plans to raise public awareness of risks, to let natural disaster insurance …
European companies are expected to hunt for assets in China, mainly in insurance, healthcare and automobile sectors, after the world’s second-largest economy and the European Union agreed to an investment deal last month, lawyers and bankers say. The agreement, which …
Ping An Insurance (Group) Co., China’s largest insurer by market value, is tapping growing global demand for Chinese assets to expand its offshore asset management business as competition with foreign entrants intensifies. The overseas asset management arm aims to increase …
China’s banking and insurance regulator said it was raising the cap on how much the country’s insurers can invest in equity assets, an effort trying to bring more long-term funds into the capital market. The China Banking and Insurance Regulatory …
