Insurance News
China Taiping to Sell Out 100% Interest in Ming An Insurance
State-owned China Taiping Insurance Holdings Company Limited is selling out 100% equity interest in Ming An Insurance Company (China) Ltd. through a public auction on Tianjin Property Rights Exchange. The bottom price of the stake auction i...
People's Insurance Co of China nets US$25bln in premium income
The PEOPLE'S INSURANCE COMPANY GROUP OF CHINA (PICC) announced on Tuesday that its insurance premium income exceeded 170 billion yuan (US$25.21 billion) in the first eight months of this year, up 35 per cent year on year. By the end of Augu...
China Insurance Security Fund to enjoy favorable taxation policy
China Insurance Security Fund Co. could enjoy certain favorable taxation policy, according to a notice jointly issued by the Ministry of Finance and the State Administration of Taxation. According to the notice, the fund's certain revenues...
ONE OR TWO CHINESE INSURERS TO CONDUCT A-SHARE IPOS IN Q4
One or two insurance companies in China are expected to get listed in the A-share market in the fourth quarter of this year, according to an expert engaging in the investment banking business. According to the expert, a number of insurance...
CHINA TO ENFORCE INSURER EXECUTIVE AUDITS FROM JANUARY 1, 2011
China is to standardize audits of the management staff of insurance companies from January 1, 2011, to improve risk prevention, according to the industry watchdog China Insurance Regulatory Commission last week. The CIRC said that it has pu...
UNIFORM RATE FOR CASHLESS TREATMENT IN INDIA FINALISED IN A WEEK
India's public sector insurance companies and large hospitals will finalise a uniform rate structure for cashless treatment scheme within a week, said chairman of a state-owned insurer. Within a week we will be able to arrive at the package...
Central Bank of Ireland signs settlement agreement with Creation Insurance
The Central Bank and Financial Services Authority of Ireland has entered into a settlement agreement with Creation Insurance of Dublin 2, a regulated financial service provider, in relation to a breach of regulatory requirements. The breach...
PICC Made over CNY170bn Premium Income in Jan.-Aug.
The People's Insurance Company (Group) of China Limited (PICC), a top integrated insurer in the country, racked up more than CNY 4 billion in consolidated profit in the first eight months this year. The insurance group grew total assets to...
Ping An Insurance Jan-Aug Insurance Premium Hit CNY156bn
Ping An Insurance (Group) Company of China, Ltd. (SHSE: 601318), one of the biggest insurance firms in the country, said yesterday that it reaped insurance premium of CNY 155.745 billion in the first eight months of the year. Of all the pre...
CIRC Has Restrictions on PICC P&C to Make Realty Investment
Realty investment of PICC Property and Casualty Company Limited (PICC PC, 2328.HK) might be restricted this year as the current solvency adequacy ratio of the non-life insurer is lowered than 150% regulatory requirement. Pursuant to the int...
Sunshine Insurance OKed to Invest in Debenture Bonds
Sunshine Insurance Group Corporation Limited becomes qualified for direct investment in non-secured bonds after its credit risk management capability record was approved by the China Insurance Regulatory Commission on August 25. Insurers' p...
Listed Insurers Expanding Equity Investment
Three Mainland China-listed insurers seems to value investment opportunities in the domestic stock market much in the second half of this year as they have begun expanding such investment in succession. According to statistics from Wind Inf...
INDIA'S BANKING SECTOR HIT BY NATIONAL TRADE UNION STRIKES
Banking and insurance services in India were hit hard in West Bengal and Kerala by the day-long strike called by trade unions against the United Progressive Alliance (UPA) government's economic policies and price rise. Services like cash pa...
American Physicians Leads Wednesday's AMBG as Global Insurance Index Rises 3.39%
The AMBG closed Wednesday, Sept. 1, at 784.90 (+3.39%). All 15 A.M. Best stock indexes rose. Leading A.M. Best's Global Insurance Composite Index (AMBG) were American Physicians (+23.42%) and InsWeb (+8.16%). Trailing the list of global ins...
CNinsure Appoints Zhao to Head Insurance Brokerage Unit
CNinsure, the Nasdaq-listed independent Chinese insurance intermediary, has appointed Bo Zhao as head of its insurance brokerage business unit to help the company further expand its offerings from retail to commercial property and casualty...
Meiri Insurance Agency Completes Financing from WI Harper
Beijing Meiri Insurance Agency Co., Ltd., an emerging insurance agency, recently completed first round of financing from WI Harper. The investment amount is not acknowledgeable at present. Beijing Meiri was established in August 2009 by Li...
GERMAN INSURER ERGO EYES STRONGER PRESENCE IN S.KOREA
ERGO Insurance Group of Germany will seek to boost its presence in South Korea as a general insurance company by selling a variety of non-life insurance products, its chief said Tuesday. From now on, diverse products of ERGO Group shall be...
Conventus Inter-Insurance Exchange Announces Promotion of Lyn Winters to President and Chief Underwriting Officer
Richard Augustyn, CEO of NIP Management Corp., Attorney-in-Fact for Conventus Inter-Insurance Exchange, announced today the promotion of Lyn W. Winters, to President and Chief Underwriting Officer, effective immediately. In addition to stro...
ASIA INSURANCE News Today 8/31.
GERMAN INSURER ERGO EYES STRONGER PRESENCE IN S.KOREA SEOUL - ERGO Insurance Group of Germany will seek to boost its presence in South Korea as a general insurance company by selling a variety of non-life insurance products, its chief said...
Insurance stocks stay dull at KSE during week
Some dull activities were witnessed in the insurance stocks last week at KSE with about 2.9 million shares traded together in life and non-life insurance stocks. Pak Reinsurance was the volume leader with 1.84 million shares followed by Ada...
Cochran Praises Post-Katrina Progress, Looks to Continue Recovery Process
WASHINGTON, D.C. - U.S. Senator Thad Cochran (R-Miss.) today issued the following statement in recognition of the fifth anniversary since Hurricane Katrina slammed into the Gulf Coast, devastating regions of Mississippi, Louisiana and Alaba...
Safety commission for dams, barrages proposed
Water and Power Development Authority (Wapda) has made a proposal to the federal government of setting up a federal commission for monitoring and safety of dams, barrages and allied structures. Wapda chairman Shakil Durrani stated this duri...
After Yesterday's Rally of 1.84%, Arch Capital Shares Could Pullback (ACGL)
Arch Capital (NASDAQ:ACGL) traded in a range yesterday that spanned from a low of $77.44 to a high of $79.36. Yesterday, the shares gained 1.84%, which took the trading range above the 3-day high of $78.69 on volume of 259,000 shares. Share...
Sun Life Financial Falls 0.18% on Heavy Volume: Watch For Rebound (SLF)
Sun Life Financial (NYSE:SLF) traded in a range yesterday that spanned from a low of $22.14 to a high of $22.78. Yesterday, the shares fell 0.18%, which took the trading range below the 3-day low of $22.68 on volume of 752,000 shares. Share...
Look for Shares of Validus Holdings to Pullback after Yesterday's 2.77% Rise (VR)
CSA Travel Protection (CSA), dedicated to providing affordable travel insurance and emergency assistance services, reminds travelers of how travel insurance can protect them from many of the unexpected mishaps that occur when a hurricane hi...
Roundup: Seoul shares close down on recovery woes
South Korean shares continued to slide on Thursday amid growing skepticism about a global recovery, local analysts said. The benchmark Korea Composite Stock Price Index (KOSPI) lost 5. 03 points, or 0.29 percent, to close at 1,729.76, accor...
Pacific AMC to Add Ante on Infrastructure Bonds
Pacific Asset Management Co., Ltd., a subsidiary of China Pacific Insurance (Group) Co., Ltd. will continue boosting infrastructure bond investment programs this year. Pacific AMC at the end of 2009 started to favor funds with relatively hu...
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Copyright 2009 Marketwire, Inc.All Rights Reserved Marketwire April 23, 2009
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