Latest China Headlines
All the headlines from our China Topic Page, ordered by recency.
Zurich Receives Approval for General Branch in Beijing
May 22 2006 // Zurich Financial Services Group announced that it has been granted a business license to establish a general insurance branch in Beijing. Both the China Insurance Regulatory Commission (CIRC) and the State Administration...
Typhoon Chanchu Hits China Coast
May 18 2006 // Typhoon Chanchu came ashore on the Southern coast of the Chinese mainland early this morning, May 18, local time. The powerful storm, packing winds in excess of 100 mph (168 kph), has reportedly caused 11 deaths and...
General Motors Gets Okay to Open Insurance Office in Shanghai
May 18 2006 // General Motors Corp. announced this week that it has received Chinese approval to open an office in Shanghai as a step toward beginning insurance operations in China. Detroit-based GM said that Motors Insurance Corp., part...
China’s P&C Insurer Licenses AIR’s Quake Cat Models
May 17 2006 // Boston-based AIR Worldwide Corporation announced that China’s PICC Property and Casualty Company Limited has licensed CLASIC/2™ and CATRADER®, AIR’s catastrophe risk management systems, to manage the...
RMS Partners With China Earthquake Administration’s Institute of Engineering Mechanics to Develop China Earthquake Risk
May 16 2006 // Newark, Calif.-based Risk Management Solutions (RMS) has formed a partnership with the China Earthquake Administration scientific and engineering arm, the Institute of Engineering Mechanics (IEM). “This partnership...
Aviva Receives New China License
Apr 26 2006 // The U.K.’s Aviva Plc announced that it has received regulatory approval for its joint-venture company, Aviva-COFCO, to open a branch office in the city of Jinan, the capital of Shandong province on China’s East...
Lloyd’s Names Faragher China Re COO
Apr 25 2006 // Lloyd’s has announced that Ian Faragher has been appointed Chief Operating Officer of its new Chinese onshore reinsurance operation in Shanghai, Lloyd’s Reinsurance Company (China) Ltd., effective May...
China Launches Nationwide Insurance Overhaul to Promote Growth
Apr 17 2006 // The China Insurance Regulatory Commission (CIRC) said it will begin thorough investigations into the country’s insurance companies this month to promote the healthy growth of the fledgling insurance market. The...
S&P Assigns ‘A-‘ Rating to Sompo’s Chinese Subsidiary
Apr 17 2006 // Standard & Poor’s Ratings Services announced that it has assigned its “A-” long-term counterparty credit and insurer financial strength ratings to China-based Sompo Japan Insurance (China) Co. Ltd.,...
China Relaxes Foreign Exchange Controls; Insurers to Invest Overseas
Apr 14 2006 // China’s central bank announced on Thursday the relaxation of controls on foreign exchange accounts, simplifying approval procedures for foreign exchange payments in the service trade, and procedures for individuals...
Willis Named Primary Risk Consultant to China Development Bank
Mar 14 2006 // Willis Group Holdings announced that it has signed an agreement with China Development Bank (CDB), “an important economic growth engine in China,” to become its global risk management and insurance...
Generali Posts 15% 2005 Profit Rise to $2.3 Billion; Unveils Growth Plan
Mar 7 2006 // The Generali Group announced impressive preliminary results for 2005 and an ambitious growth plan at a general meeting yesterday, March 6, in Milan. 2005 profits rose 15 percent to €1.918 billion ($2.3 billion). The...
Wethington Named Chairman of AIG Companies in China
Mar 7 2006 // American International Group Inc. (AIG) reported that Olin Wethington, former special envoy on China, U.S. Department of the Treasury, has joined AIG as chairman of AIG Companies in China, a new position. In this capacity,...
Xinhua Finance to Acquire Chinese Risk Manager Beijing Alpha
Mar 3 2006 // Xinhua Finance Limited, China’s foremost financial information and media provider, announced that it has signed an agreement to acquire Beijing Alpha Financial Engineering Company, one of the country’s leading...
Allianz Opens New Office in Shenzhen
Mar 2 2006 // Germany’s Allianz announced on its Web site (www.allianz.com) that it has launched its first joint life and non-life insurance Sales Center in Shenzhen, China. “The Center maximizes the synergies between...
U.S. State Regulators Reaching Out to Foster International Standards
Feb 27 2006 // At a time when they face pressure to bring more uniformity to their own domestic regulatory operations, the nation’s state regulators are also increasingly active in efforts to harmonize the rules governing...
IAG Reports $340.7 Million 6 Month Profit; To Return $147.8 Million; S&P Sees No Rating Change
Feb 23 2006 // Insurance Australia Group Ltd. (IAG), the country’s biggest auto and home insurer, posted a six-month profit for the period ended Dec. 31, 2005 of A$461 million (US$340.7 million). However, overall policy sales...
China Teams with International Expertise to Improve Road Safety
Feb 22 2006 // National and International members of the China seatbelt intervention Steering Committee met this week in Beijing to discuss the progress of a leading project in the province of Guangzhou, which addresses the low usage of...
Generali in Joint P/C Venture with China National Petroleum
Feb 1 2006 // Italy’s Assicurazioni Generali announced that it has received the go-ahead from the China Insurance Regulatory Commission (CIRC), to set up a joint venture to operate in the non-life sector with its partner, China...
XL Opens Representative Office in Beijing; Plans Brazil Join Venture
Jan 31 2006 // Bermuda’s XL Capital Ltd. reported two developments in its global insurance business. It has received the approval of the China Insurance Regulatory Commission to open a Representative Office in Beijing. XL has also...
