Insurance News
China's Picc Contacting Global Investors: Report
People's Insurance Co. Group of China (PICC) is contacting global investors to discuss possible investment, China Securities Journal reported on Friday. The report quoted an unnamed source as saying that the PICC Group has conducted road sh...
Petrovietnam Insurance Looking To Transform Into Holding Company
The PetroVietnam Insurance Company (PVI) has said it plans to transform itself into a holding company called PVI Holdings by July 18. Company restructuring is aimed at shifting operations to subsidiaries set to conduct business on PVI's beh...
China H1 Insurance Premium Income Tops US$124 Bln
China's insurance industry realized 805.66 billion yuan (US$124.6 billion) of premium income in the first half of the year, rising 13 per cent year on year, according to statistics released by the China Insurance Regulatory Commission (CIRC...
Carlyle Group Said to Quit CPIC
Carlyle Group will quit China Pacific Insurance (Group) Co., Ltd. (CPIC, SEHK: 2601 and SHSE: 601601), sooner or later, said an industry observer. The lockup period of 692 million H-shares the US private equity firm controls in the Chinese...
Ctrip Insurance Agency to Explore Insurance Services
As approved by China's insurance industry watchdog China Insurance Regulatory Commission (CIRC), Ctrip Insurance Agency Co., Ltd was unveiled at the end of this June. The registered capital of the new company is CNY 50 million, according to...
Central Bank could lend $9bn for BoM bailout
The Central Bank of Russia (CBR) is prepared to provide a loan worth some RUB 250bn (approx. USD 8.97bn) to state-owned Deposit Insurance Agency (DIA) to bail out The Bank of Moscow (BoM), RBC Daily reported today, citing a source at CBR. A...
Social Security Fund Subscribed 11% of PICC Stake
China's leading insurer PICC Group President Wu Yan disclosed on June 20, 2011 that the Social Security Fund spent CNY 10 billion buying an about 11% stake in his group. The two parties previously signed an agreement, driving the fund to be...
Regulator mulls treatment of insurers' special reserves
Taiwan's Financial Supervisory Commission (FSC) is studying how it could resolve a taxation problem related to the special reserve fund of domestic insurers that amount to around NT$100 billion (US$3.45 billion). According to the Taiwan Econ...
Insurers establish mutual cooperation model
Cinda Property, Casualty Insurance and Happy Life Insurance have signed an agreement to cross sell each others products, in what is the first such formal model of cooperation between a non-life company and a life insurer in China. The agreem...
Insurance Firms Swarmed to Bid for CBD Land
Chinese insurance companies swarmed to bid for the last plot of land in the Central Business District (CBD) in Beijing. Taikang Life Insurance Company Limited and Sunshine Insurance, which failed to bid for the sixth CBD land last December,...
3 Insurers' Equity Transfer Plans Approved
The China Insurance Regulatory Commission (CIRC) has agreed equity transfer plans of three insurance companies, such as Chang An Property Liability Insurance Ltd., Bohai Property Insurance Company Ltd., and Du-Bang Property Casualty Insuran...
Ping An Insurance Said to Issue CNY1bn Offshore Bonds
Ping An Insurance (Group) Company of China, Ltd. (Ping An, SHSE: 601318, and SEHK: 2318), the second largest insurance conglomerate in the nation, is said to plan to issue more than CNY 1 billion three-year offshore renminbi-denominated bon...
China to Pilot Variable Annuity Insurance
Variable annuity insurance is more and more popular among consumers, especially those middle-aged white-collar workers, in the Chinese market nowadays. As one of the three pillar insurances of China's social endowment security system, corpo...
Foreign Investors Took 25% Chinese Insurance Market Share
Foreign investors have captured 25% of the Chinese insurance market share, said Chen Wenhui, assistant to chairman of China Insurance Regulatory Commission, on May 20, 2011 By 2010, the number of foreign insurance companies in Mainland Chin...
Net Profit of Ping An Insurance Increased 27.8% in Q1
According to report from Ping An Insurance (Group) Company of China, Ltd. (Ping An Insurance, SHSE: 601318, HKSE: 2318) on April 27, due to the better performance in insurance, banking and investment businesses, the company in the first qua...
Rate of ROI of Insurers Reached 1.07% in Q1
According to China Insurance Regulatory Commission, by the end of the first quarter in 2011, the insurance capital utilization balance reached CNY 5.02 trillion, rising 6.6% from the beginning of this year. From January to March, insurance...
Insurers Favor Chemical, Steel Stocks
During the three months from this January to March, China's insurance institutions invested a lot in petroleum, chemical and steel-related stocks. By April 25, the market cap of shares that insurance companies held in petroleum and chemical...
CIRC Bans Insurers Drawing Paid-in Capital Before Opening
China Insurance Regulatory Commission on Tuesday released a guidance to acceptance of insurance companies, which prevents insurers from drawing paid-in capital before receiving regulatory approval to start business. CIRC asks the registered...
Banking Insurers Record Bright Performance
Insurance companies with equities held by banks in China racked up robust growth last year and they are expected to maintain bright performance this year depending on majority banking shareholders. Sun Life Everbright Life Insurance Co., Lt...
CNinsure to Build Insurance Product E-commerce Platform
CNinsure Inc. (Nasdaq: CISG), an independent insurance intermediary company in China, announced on March 26 that it would set up the country's first insurance product e-commerce platform with an investment of CNY 500 million from 2011 to 20...
PICC P&C Suffered Shrinking Market Share
This January, Hong Kong-listed PICC Property and Casualty Company Limited (PICC PC, 2328.HK), saw the market share shrink to 37.2%, compared with the figure of 38.23% in the previous year. Single-month property insurance premiums of PICC PC...
Eastern Airlines Forms Strategic Partnership with PICC P&C
China Eastern Airlines Corporation Limited on March 8 entered into full strategic cooperation agreement with PICC Property Casulaty Co., Ltd. Both cooperated well in aviation insurance, property insurance, group casualty insurance and vehic...
Yong An Insurance Saw Better-than-Expected Performance
Yong An Insurance, the sole western China-based property insurer with a nationwide license, saw a 400% growth in last-year profits to CNY 200 million. As at August 31, 2007, the registered capital of the Xi'an-based insurer was only CNY 310...
Ming An Insurance Equity Change Agreed
The Ming An Insurance Co. (China) Ltd. has been agreed by the China Insurance Regulatory Commission in equity change. After the move, Ping An Insurance (Group) Company of China, Ltd. (SHSE: 601318; SEHK: 2318), the country's second biggest...
China Re Oked to Raise Capital to CNY7.5bn
With a greenlight by the China Insurance Regulatory Commission, China Reinsurance (Group) Corporation will increase its registered capital to over CNY 7.53 billion. China Reinsurance had over CNY 6.33 billion in registered capital in terms...
Private Firms to Buy Minsheng Bank Shares
Five private enterprises will take part in the private share placement of China Minsheng Banking Corp. (Minsheng Bank, 600016.SH,1988.HK), a private lender of China's Mainland. Pursuant to the announcement of Beijing-based Minsheng Bank, th...
NCI Has Good Shareholder Structure
Current shareholder structure of New China Life Insurance Co. (NCI), a Beijing-based life insurer, is fine. As the largest shareholder, China SAFE Investments Limited currently holds 38.815% of New China Life. Baosteel Group Corporation, a...
Today's Picks
Citizens Business Bank signs agreement with FDIC to
Bank holding company CVB Financial Corp (NASDAQ:CVBF) disclosed late Friday
Deutsche Insurance Division Kaj as Global Strategic
Deutsche Bank's Asset Management division today announced that Kaj Ahlmann has
Americans Say They Don''t Have a Voice Anymore, 2 In 5
Copyright 2009 Marketwire, Inc.All Rights Reserved Marketwire April 23, 2009
Merck sued over patent on allergy drug Singulair
NEW YORK_The battle over the patent on Merck and Co.'s allergy and asthma drug
Corbin Heads SilverStone Group's Des Moines Initiative
SilverStone Group, a full service resource management organization with more
Humana Military Healthcare Services Promotes Flu
Humana Military Healthcare Services, a wholly owned subsidiary of Humana Inc.
Coalition Says Public Health Option Would Lead to
The current debate over health care reform has spawned town hall meetings all
CNA Appoints John Hennessy Chief Executive Officer,
CHICAGO--(BUSINESS WIRE)-- CNA Financial Corporation (NYSE: CNA) announced
Five steps to maximize retirement savings
Copyright 2009 TheStreet.com, Inc.All Rights Reserved TheStreet . com May 18,
Sterling Financial Corporation of Spokane, Washington,
Sterling Financial Corporation (NASDAQ: STSA) today announced that its
MOST POPULAR
- Most Read
- Most Discussed
- Most Emailed
- A.M. Best Places Ratings of Forethought Life Insurance Compa
- A.M. Best Downgrades Issuer Credit and Debt Ratings of Jackson National Life Insurance Company and Its Affiliates
- A.M. Best Downgrades Ratings of Bankers Life Insurance Company; Revises Outlook to Negative
- Farmers Insurance(R) Named One of the 'Best Companies to Work For' in the Greater Kansas City Area
- Till Death Do Us Part; How second-to-die life insurance pol
- Chartis Charts Its Path Away From AIG
- A.M. Best Revises Outlook to Negative for AXA Financial, Inc
- Prepared Insurance Strategy Shaped by Florida Regulation, Rates
- Bank of America began to reduce the principal amount of mortgage loan modifications
- A.M. Best Downgrades Issuer Credit Ratings of Primerica Life
