China News

Liberty Specialty Markets Enters Chinese Market via Lloyd’s China Platform

London-based Liberty Specialty Markets (LSM), which is part of Liberty Mutual Insurance Group, has joined the Lloyd’s China platform. LSM’s Underwriting Division of Lloyd’s Insurance Company (China) Ltd. (LICCL) has appointed Eve Li as its first representative in Beijing, China. …

China’s Insurers Received Premium Income of $365 Billion in 2015

The premium income received by China’s insurance firms hit 2.4 trillion yuan ($364.85 billion) in 2015, the industry regulator said on Monday. This means insurance premium income rose 20 percent last year from 2014, Chen Yingdong, a spokesman for the China Insurance Regulatory Commission, told a …

Ironshore International Opens Office in Shanghai; Part of Lloyd’s China Platform

Ironshore International announced its subsidiary, Pembroke Managing Agency, will establish an office in Shanghai in January 2016 as part of the Lloyd’s China platform. Pembroke Managing Agency will underwrite specialty lines of business, initially focusing on the agriculture, marine and …

China’s Insurance Marketplace Explained in California Symposium

Few people in the world could probably offer the sort of perspective on China’s developing insurance industry as economist Qixiang Sun. Sun is the dean of the school of economics at Peking University, and director of the China Center for …

China’s Cabinet to Take Greater Role in Financial Markets Oversight: Source

China’s cabinet is set to take on a bigger role in overseeing financial markets, as perceived missteps by existing regulators fuel concerns globally that Beijing may lose its grip on economic policy with growth at its slowest in a quarter …

Chinese Insurers Form Fund to Finance Overseas Energy, Infrastructure Projects

More than 40 Chinese insurance companies and asset managers have jointly started an investment firm, raising 40 billion yuan ($6 billion) for a first fund to finance energy and infrastructure projects overseas, China’s insurance regulator said. The new firm, China Insurance Investment Ltd., will …

China Anti-Terrorism Law Raises Implementation Concerns: European Chamber

The vague wording of China’s new counter-terrorism law raises concerns about how telecommunications carriers and network service providers will be expected to implement the regulations in practice, the European Chamber of Commerce in China said on Tuesday. The law, approved …

Chinese Insurance Investment Rule Changes Send Stocks Lower

China’s stock market posted its biggest one-day fall in two weeks on Thursday, as investor interest in blue chips suddenly cooled after regulators tightened rules for insurers investing in listed firms. The blue-chip CSI300 index fell 1.0 percent, to 3,829.40, …

AIG Reportedly to Raise About $750M From Sale of Shares in China’s PICC P&C

American International Group is seeking to raise about $750 million by selling part of its stake in China’s state-run PICC Property and Casualty Co. Ltd., according to a term sheet of the deal seen by IFR on Monday. AIG is …

AXIS Capital to Write Treaty Reinsurance Business via Lloyd’s China Platform

Bermuda-based AXIS Capital Holdings Ltd. announced that AXIS Syndicate 1686 has recently received approval from Lloyd’s for the establishment of an underwriting division at Lloyd’s Insurance Company (China) Ltd. The underwriting division will focus on treaty reinsurance business on the …