To inject CNY 299.4 million into Sun Life Everbright Life Insurance Co., Ltd. with Sun Life Financial Service is a part of China Everbright Group's plan to infuse capital into the Sino-Canadian insurer.
The plan to shift Sun Life Everbright Life into a Chinese one will remain. And provided that the group wants to achieve the goal, it should inject CNY 1.5006 billion into Sun Life Everbright Life. Sun Life Financial Service has the right to inject capital into the venture but the stake it controls in the latter will be at most 24.99 percent.
Sun Life Everbright Life on November 23 gained regulatory approval to expand registered capital to CNY 1.4994 billion from previously CNY 1.2 billion The added part will be injected by its Chinese shareholder Everbright Group and foreign shareholder Sun Life Financial Service 50 percent by 50 percent and after that, it will still be a 50-50 joint venture between the two companies. Premium revenue it gained in the first ten months of this year reached CNY 887 million, dropping 33.9 percent year on year and ranking number 10 among foreign-funded insurers in China.
-
Insurance Industry Campaign Contributions Lean in Favor of Democrats
The insurance industry is spending more in this election cycle on Democratic candidates, a trend-breaking... -
MetLife's Bank Passes Federal Government's Stress Tests
MetLife Inc., a federally chartered bank holding company, said it passed the federal government's stress... -
New York Life’s Top Ratings Affirmed by All Four Major Rating Agencies
NEW YORK--(BUSINESS WIRE)-- New York Life Insurance Company today announced that all four of the major... -
Total Admitted Assets for Top 25 U.S. Life/Health Writers Dr
OLDWICK, N.J., Mar 30, 2009 (A. M. Best via COMTEX) -- Total admitted assets for the top 25 U.S. life/health... -
Indexed Annuity Sales Set A Record For 2Q 2009
Forty-seven indexed annuity carriers participated in the 48th edition of the Advantage Index Sales Market... -
American Life Insurance Company (ALICO), American International Assurance Company, Ltd. (AIA) to Be Placed
NEW YORK--(BUSINESS WIRE)-- American International Group, Inc. (AIG) today announced that it has entered...
Today's Top Picks
- HOT
- Latest
- Last Post
- Rand
- Class Action Suit against Nationwide Insurance
- Insurance Industry Campaign Contributions
- MetLife's Bank Passes Federal Government's
- New York Life’s Top Ratings Affirmed by
- Total Admitted Assets for Top 25 U.S. Life/Health
- Indexed Annuity Sales Set A Record For 2Q
- American Life Insurance Company (ALICO),
- Lincoln Financial Group To Pay $ 500 million
- Bank BOLI Assets Exceed $126 Billion in
- Insurance Department Releases Report on
- Financial Crisis Is Biggest Risk Facing
- LIMRA/McKinsey Study Reveals How Life Insurers
- Inflation factor in retirement planning
- IRS Rules on Tax Treatments of Life Settlements
- American Enterprise, Homesteaders Life Decide
- TARP or no TARP, Your Life Insurer Is Likely
- Blue Cross Blue Shield of North Dakota Names
- Two concentrations joined MassMutual Financial
- Patrick O'Sullivan to succeed Chris Collins
- First-Quarter U.S. Sales of Fixed Annuities
-
Lincoln Financial Group To Pay $ 500 million debt due April
Copyright: PR Newswire Source: PR Newswire Wordcount: 1673 PHILADELPHIA, March 31 / PRNewswire-FirstCall... -
Bank BOLI Assets Exceed $126 Billion in 2008
According to Report by Michael White and Meyer-Chatfield Radnor, PA, and Jenkintown, PA, June 23, 2009... -
Insurance Department Releases Report on Executive Compensation at State's Largest Blues' Plans
Harrisburg, Pa., July 30 / PRNewswire-USNewswire / - The Insurance Department of Pennsylvania today released... -
Financial Crisis Is Biggest Risk Facing Insurance Market, E&Y Says
Financial crisis is the biggest risk facing insurance market says Ernst Young The impact of the financial... -
LIMRA/McKinsey Study Reveals How Life Insurers Can Optimize
Windsor, Connecticut and New York, NY, March 3, 2009 - A multi-faceted approach is the best way to improve... -
Inflation factor in retirement planning
NEWARK, N.J.--(BUSINESS WIRE)-- A dollar today wont be a dollar tomorrow, it may be more like 50 cents....
Featured Stories
-
Indexed Annuity Sales Set A Record For 2Q 2009
-
Lincoln Financial Group To Pay $ 500 million debt due April
-
Bank BOLI Assets Exceed $126 Billion in 2008
-
IRS Rules on Tax Treatments of Life Settlements
-
American Enterprise, Homesteaders Life Decide not to merge
-
Blue Cross Blue Shield of North Dakota Names von Ebers President, CEO
Insurance News Health Insurance Life Insurance Property Insurance Casualty Insurance Car Insurance Travel Insurance Reinsurance News Breaking News Law&Regulation insurance videos insurance jobs
Contact Us | Privacy Policy | Sitemap | Rssmap
Use of this website signifies your agreement to the Terms of Service and Privacy Policy insurancenewsnet.org All rights reserved.