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Property Insurance

CPIC Jan-May Property Insurance Premium Up 18.6%

The premium revenue China Pacific Insurance (Group) Co., Ltd. (CPIC, SEHK: 2601601 and SHSE: 601601) captured in the first five months of this year reached CNY 73.2 billion, according to data the dual-listed insurer released on June 15. Of...

PICC Preparing for Dual Listings

The People's Insurance Company (Group) of China Ltd. (PICC) recently inked a contract to introduce the National Council for Social Security Fund (NCSSF) as a shareholder. Under terms of the contract, the fund will invest CNY 10 billion into...

Growth of Property and Casualty Insurance Hit 20% in 2011

Recently, several insurers published their premium report of May 2011. In terms of property and casualty insurance, premium revenue of Ping An Property Casualty Insurance Company of China, Ltd. (Ping An PC) increased totally 36.2% in Januar...

Regulator proceeding with caution on property title insurance

Scattered and decentralised land records have emerged as the most contentious hurdle in providing insurance for land titles, prompting the insurance watchdog, the IRDA to study the issue before approving products providing title cover. Accor...

Pacific Property Insurance Partners with Euler Hermes

China Pacific Property Insurance Co. has entered into an agreement with the French credit insurance company Euler Hermes to launch full cooperation in development of credit insurance products, operation and management and market development...

Sichuan First Local Property Insurer Established

Jintai Property and Casualty Insurance Co., Ltd., the homegrown legal-person insurance firm incorporated in Sichuan Province, opened. With initial registered capital of CNY 1.1 billion, the insurance firm is jointly sponsored by eight large...

PICC Property Suffered First Premium Drop in 4 Yrs

PICC Property and Casualty Company Limited (SEHK:2328) witnessed premium revenue of CNY 183.31 billion in January 2011, falling about 1% over the same period of a year earlier and the first drop since December 2006, announced by the propert...

Jintai Property Insurance OKed to Debut

Jintai Property Insurance Comany Ltd. has gained go-ahead from the Chinese regulators to make a debut. The property insurer, based in Chengdu, capital city of Sichuan province, central China, will have a registered capital of CNY 1.1 billio...

China Pacific Insurance 2010 Premium Income Hit CNY139.4bn

China Pacific Insurance (Group) Co., Ltd. (SHSE: 601601, SEHK: 2601), a leading integrated insurer in the country, stated in a January 17 announcement that it achieved CNY 139.4 billion in original premium revenue in 2010 in terms of new ac...

China Guodian Plans to Establish Property Insurer

China Guodian Corporation is planning to set up a property insurance company together with five other companies including Shenzhen-listed Hubei Triring Co., Ltd. The China Guodian plans to take a controlling 40% stake in the property insure...

Insurance Funds Flow Faster into Property Sector

Insurance funds accelerate investing in property sector after Chinese insurance regulator gave them such access in early September. China Insurance Regulatory Commission on September 5 released interim rules on insurance funds' equity inves...

China United Property Insurance Suffe Shrinking Market Share

As the fourth largest property insurance company of China's Mainland, China United Property Insurance Company has seen the negative growth in premium revenues for consecutive six months this year. According to available data, China United P...

19 Property Insurance Firms Lifted Capital by CNY11.9bn

Original premium revenue of property insurance firms in China arrived at CNY 799.86 billion in the first half of 2010, growing more than 30% over the same period of a year earlier. Along with expanding scale, about 19 property insurance fir...

Foreign Property Insurers Occupy Low Market Share in China

Allianz Insurance Company Guangzhou Branch, Allianz Group's first non-life insurance operation in China, has been upgraded into a subsidiary of the German group and is set to start formal operation from July 1. So far, a total of 14 foreign...

Insurers helping Ontarians lead safer lives, protect property and prepare for emergencies

Entertainment, prizes and family fun highlight 2010 Be Smart. Be Safe. Tour Insurance Bureau of Canada's (IBC's) award-winning Be Smart. Be Safe. Tour kicked off its sixth consecutive season today at Harbourfront with entertainment, prizes...

PICC Property & Casualty to Sell CNY8bn Subordinated Bonds

PICC Property Casualty Co., Ltd. (SEHK: 2328), a top insurance company in China, May 31 posted an announcement on the Stock Exchange of Hong Kong that it has won an approval from the board of directors to sell not more than CNY 8 billion 10...

Insurers Jan-Apr Profit Up 158%

Aggregate profit insurers in the Chinese market gained in the first four months of this year is expected to hit CNY 27.75 billion, soaring 158.13 percent, or CNY 17 billion, year on year, according to statistics by the China Insurance Regul...

Inflation Volatility a Significant Planning Concern for Property-Casualty Insurers

While the insurance industry has dealt with inflation and associated volatility in the past, there has been little inflationary impact in the past 15 years, said Stephan Christiansen , director of research at Conning. As we look ahead, ther...

White Connecticut Firefighters Seek Back Pay, Damages

A group of white New Haven firefighters who won a discrimination case before the U.S. Supreme Court are seeking back pay, damages and legal fees. The high court ruled in June that New Haven officials violated white firefighters' civil right...

Health Net Federal Services Statement on TRICARE Award Announcement

Health Net Federal Services, LLC, the government operations division of Health Net, Inc. released the following statement today in response to the Department of Defenses release of the TRICARE contract awards: Health Net Federal Services is...

Farmers Insurance Coverage emphasizes the right fit for the consumer of the new campaign with the renowned actor and director Edward James Olmos

Farmers Insurance Group announced it has launched its latest Hispanic advertising campaign titled Force Field that includes TV, radio and rich media all produced by U.S. Hispanic Agency of Record Accentmarketing. Force Field is a visual rep...