Life Insurance
New China Life Insurance To Offer Us$2bln In Bonds In 2012
New China Life Insurance Corporation (NCI, SSE:601336, SEHK:1336) announced on Wednesday that it will raise no more than 15 billion yuan (US$2.3 billion) worth of capital through debt issuance to improve its ability to make payments to poli...
China Life Shanghai Branch Saw 10% Premium Growth 2011
The Shanghai branch of China Life Insurance Company Limited (China Life) (SHSE: 601628, SEHK: 2628 and NYSE: LFC) announced on January 19 that it saw 10% growth in premium income in 2011. Under the condition that the life insurance market i...
CCB Life Opens Shandong Branch
CCB Life Insurance, a life insurance unit of China Construction Bank Corporation (SHSE: 601939 and SEHK: 0939), opened a branch in Jinan, a city in Shandong province, yesterday. The branch, the second one set up by CCB Life in a province af...
Indian Insurance Regulator Fines Future Generali Life Insurance
India's insurance sector regulator (IRDA) has imposed a fine of Rs 20 lakh (US$38 828) on Future Generali Life Insurance for allowing unauthorised entity to solicit business on its behalf. Unlicensed individuals have solicited business for...
Sri Lanka's Arpico Insurance To Tap Life Sector
Sri Lanka's Arpico Insurance, a start-up insurer, is planning to capitalize on the island's relatively untapped life sector which is less competitive than general insurance, officials said. Arpico Insurance, promoted by Sri Lanka's Richard...
China Life Q3 Net Profits Down 45.7 Pct To Us$591 Mln
China Life Insurance (SEHK:02628; SSE:601628) announced on Thursday that its net profits dropped 45.7 per cent year on year to 3.75 billion yuan (US$590.9 million) in the third quarter of this year, due to capital market fluctuations. The l...
Let Life Insurers Invest In Non-aaa Rated Bonds: Indian Ministry
The Indian industry ministry is in favour of allowing life insurance companies to invest in greater quantity in non-AAA rated debt instruments, a move that will encourage flow of funds for infrastructure projects. Insurance regulator IRDA i...
India's Syndicate Bank Ties Up With Tata Aig Life Insurance
India's Syndicate Bank (BSE:532276) has tied up with Tata AIG life Insurance Company Ltd to provide group life insurance solution to its existing and new housing loan customers. Under this tie-up, Syndicate Bank would offer Tata AIG's 'Tota...
Indonesia's Bumiputera 1912 Sets Income Target At Us$1.17bln
Indonesian life insurance company Asuransi Jiwa Bersama Bumiputera 1912 said it hopes to earn up to Rp10 trillion (US$1.17 billion) in premium income in 2012. Next year, Bumiputera is set to grab a 15 per cent share of the life insurance ma...
Indonesia's Panin Life Doubles Income To Us$135 Mln
Indonesian insurer PT Panin Life almost doubled its premium income to Rp1.15 trillion (US$135 million) in the first half of the year from the same period last year. Simon Imanto, the vice president of the life insurance company, said premium...
Sun Life Everbright Life Insurance to Open Henan Branch
Tianjin-based Sun Life Everbright Life Insurance Co. has received approval of China Insurance Regulatory Commission for opening Henan branch, its fifth branch in China. The insurer now has Shanxi branch, Sichuan branch, Shenzhen branch and...
New China Life's Renewal Premiums Cover Over 50% Weight
New China Life Insurance Co.'s renewal premiums have accounted for nearly half of total premiums so far, said the insurer in a report. As at May 2011, New China Life Insurance's 13-month renewal rate of individual insurance was approximatel...
Aviva-COFCO Approved for CNY200 Mn Capital Increase
Aviva-COFCO Life Insurance Co. received approval of China Insurance Regulatory Commission for CNY 200 million capital increase with two shareholders' stakes unchanged. The insurer, a joint venture between European insurance company Aviva an...
Insurers deal with anti-inflation measures
Vietnam's non-life insurers are facing slower business because of the government taking economic tightening measures to fight high inflation. Since the Vietnamese government started tightening public investment and other expenditure, insuran...
Sinatay Life Insurance Wins Nod for Capital Increase
The China Insurance Regulatory Commission just approved of the capital increase of Sinatay Life Insurance Co., Ltd. by CNY 22 million, its second capital increase this year. The Hangzhou-headquartered life insurer's registered capital will...
China Pacific Life Insurance Growth Facing Uncertainties
Chinese leading insurance firm China Pacific Insurance (Group) Co., Ltd. (SHSE: 601601) will face a new round of challenges in sales channels and products of life insurance business, said its chairman Gao Guofu at the shareholders' meeting...
Guangdong to Have 1st Local-incorporated Life Insurer
As approved by the industry regulator China Insurance Regulatory Commission (CIRC), Pearl River Life Insurance Co., Ltd. is to be unveiled as the first local-incorporated life insurance company in the south coastal province Guangdong. With...
CIRC Assistant to Chairman to Head China Life
Yuan Li, assistant to chairman of the China Insurance Regulatory Commission (CIRC), the top Chinese insurance regulator, is going to serve as president of China Life Insurance (Group) Co. Yuan was born in September 1962 and before acting as...
NCL to Sprint for IPO, Taikang Life Listing Suspended
New China Life Insurance Co., Ltd. (NCL) is said to sprint for an initial public offering (IPO) in June, while Taikang Life Insurance Co., Ltd. may suspend a listing. New China Life is said to submit listing documents on June 15, 2011. Howe...
China Life Adjusted Investment Structure in Q1
During the first three months of this year, Beijing-based China Life Insurance Co. (601628.SH, 2628.HK) raised the proportion of bond investment and money funds. According to the first-quarter financial report of the listed insurer, China L...
New China Life Confirmed to List in 2011
Chinese leading life insurance firm New China Life Insurance Co., Ltd. General Manager He Zhiguang told journalists that the company still will achieve a listing within 2011 although the performance is not as good as expected in the first q...
Two Shareholders Withdraw from Eastern Life Insurance
The China Insurance Regulatory Commission (CIRC) just approved two corporate shareholders of Eastern Life Insurance Co., Ltd. to withdraw from the insurer. With the approval, Inner Mongolia Dalinhar Investment Co. will transfer 50 million s...
Insurers Build Communities for Participation in Elderly Care
For insurance institutions, the elderly care industry is a booming industry in China in terms of combination between social benefit and economic benefit, said a top executive of a life insurer. According to forecasts by the United Nations (...
Taiping Life Insurance Issues CNY4bn Subordinated Bonds
China Taiping Insurance Holdings Company Limited announced on March 8 that its subsidiary Taiping Life Insurance Co. has completed the issue of CNY 4 billion subordinated bonds. The proceeds from the bond issue will be used to improve its s...
Foreign Parent to Reduce Stake in New China Life
Zurich Financial Services, the foreign shareholder of Beijing-based New China Life Insurance Co., just announced that it would sell a 5% stake of the life insurer to a selected buyer. After this, Zurich Financial Services' shareholding prop...
Premiums of Shanghai Foreign Insurers down in Jan
This January, foreign life insurance companies in Shanghai gained the premiums revenues of CNY 913 million, down 10% from the corresponding period of 2010, according to available data. Generali China Life Insurance Co. Ltd Shanghai Branch i...
HSBC Life Insurance Approved to Prepare Beijing Branch
HSBC Life Insurance Company Limited, a 50/50 joint venture between HSBC Insurance (Asia) Limited and Beijing-based National Trust Limited, just received approval from the China Insurance Regulatory Commission to prepare for Beijing branch....
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