Latest China Headlines
All the headlines from our China Topic Page, ordered by recency.
McKinsey’s Casserely to Succeed Plumeri as Willis Group CEO
Oct 17 2012 // Dominic Casserley will serve as the next chief executive officer of global insurance broker Willis Group Holdings, effective Jan. 7, 2013. Also, Steve Hearn, currently the chairman and CEO of Willis Global, will serve as...
Worker’s Injury Sheds Light on China’s Workers’ Comp System, Apple Contractor
Oct 12 2012 // Apple Inc.’s largest contract manufacturer has been pushing for a Chinese worker left brain-damaged in a factory accident to be removed from the hospital in a case that throws a harsh new spotlight on labor rights in...
Northern California-based Broker Group to Meet in Shanghai
Oct 9 2012 // The Worldwide Broker Network, a group headquartered in San Mateo, Calif., will hold an owners conference in Shanghai, China on Oct. 17 through Oct. 20 12. The event is expected to draw a gathering of roughly 150 owners and...
Best Special Report Sees China as a Market in Transition
Oct 9 2012 // “The Chinese insurance market is in a state of transition: after a period of rapid expansion, the market must now adjust for sustainable and healthy growth,” concludes a special report from A.M....
Aon Benfield’s Monthly Cat Recap Focuses on $7.5 Billion Asian Flood Losses
Oct 5 2012 // Asian flood losses during the third quarter of 2012 aggregated more than $7.5 billion in economic losses, of which China was the worst hit by two separate flood events that affected several provinces. “The most...
Lawmaker Warns of New Cyber Threats to U.S. Financial Networks
Oct 5 2012 // The head of the House of Representatives Intelligence Committee said on Thursday that significant new cyber threats to U.S. financial networks appeared to be emerging from an “unusual” source. Committee...
Best Upgrades Hyundai Marine & Fire, China Sub’s Ratings
Oct 3 2012 // A.M. Best Co. has upgraded the financial strength rating (FSR) to ‘A’ (Excellent) from ‘A-‘ (Excellent) and issuer credit rating (ICR) to “a” from “a-” of South Korea’s...
WTO Director Lamy Says Doha Round Rescue in US, China’s Hands
Oct 2 2012 // World Trade Organization Director General Pascal Lamy on Monday acknowledged the Geneva-based grouping has been a “disappointing” forum for trade liberalization but placed the blame for moribund world trade...
China Eases Access to Insurance, Travel industries
Sep 24 2012 // China has eased restrictions on foreign companies in parts of its insurance, travel and delivery industries in a possible effort to reverse a slide in investment from abroad, an American business group said Friday. Some of...
Judge Fines Las Vegas Sands Corp. $25,000 in Termination Lawsuit
Sep 17 2012 // A Nevada judge has fined Las Vegas Sands Corp. $25,000, citing its failure to disclose important information in a lawsuit filed by a fired executive against the casino company. Clark County District Judge Elizabeth...
US Renews Waivers of Iran Sanctions for Japan, EU Nations
Sep 17 2012 // The United States has renewed waivers on Iran sanctions for Japan and 10 European countries because they cut their purchases of the OPEC nation’s crude oil, Secretary of State Hillary Clinton said on Friday. The...
Swiss Re’s Chief Economist on the State of the Global Economy
Sep 14 2012 // “The European debt crisis is affecting the global economy, definitely,” said Kurt Karl, Swiss Re’s chief economist in an interview at the recent Reinsurance Rendezvous in Monte Carlo. He did indicate that...
Survivors of Earthquakes in Southwest China Await Relief
Sep 10 2012 // Survivors of a series of earthquakes that killed 81 people and injured more than 800 in a mountainous area of southwestern China were desperately waiting for more aid to arrive Sunday as jolting aftershocks kept fears high...
Aon Benfield August Cat Report Focuses on Isaac; Insurance Cover Disparity
Sep 7 2012 // Aon Benfield’s latest edition of its Global Catastrophe Recap report, which reviews the natural disaster perils that occurred worldwide during August, notes that Hurricane Isaac was “the first land falling...
Commentary: World Economy Entering Into Financial Hurricane Season
Sep 7 2012 // The North Atlantic hurricane season runs from mid-August to October, with a strong peak in storm activity around the middle of September. A less familiar but even more destructive pattern of disturbances is the financial...
Commentary: Iran Confident It Is Winning Sanctions War
Sep 4 2012 // Despite ludicrous claims to the contrary, Western sanctions have hurt Iran’s crude oil exports, but it’s also not all gloom and doom. In unsurprising, but obviously factually incorrect, remarks, the director of...
Ratings Recap: China Taiping (NZ), Maiden Holdings (Shares)
Aug 30 2012 // A.M. Best Co. has downgraded has the financial strength rating (FSR) to ‘B+’ (Good) from ‘B++’ (Good) and the issuer credit rating to “bbb-” (Good) from “bbb” (Good) of China...
How Iran’s Main Oil Buyers Deal with Insurance Sanctions
Aug 30 2012 // Insurance companies based in the EU are not allowed to provide cover for ships that carry Iranian cargo. The EU sanctions are aimed at the protection and indemnity (P&I) clubs based in the EU, which dominate the marine...
Willis to Open 22nd China Office in Harbin
Aug 29 2012 // Willis China, part of Willis Group Holdings, announced that the Chinese Insurance Regulatory Commission (CIRC) has granted approval for it to open a new office in Harbin, a first for a foreign broker and Willis’ 22nd...
Fitch Notes Reinsurers More Risk-Focused For More Asian Catastrophes
Aug 23 2012 // Fitch Ratings has issued a statement which points out that the “spate of Asia-Pacific catastrophes in the past two years have prompted reinsurers to take stock of their existing portfolio and re-evaluate their...
