Latest China Headlines
All the headlines from our China Topic Page, ordered by recency.
China’s PICC Group to Raise up to $4 Billion in Hong Kong IPO
Nov 15 2012 // Chinese state-owned insurer PICC Group started meeting institutional investors in Hong Kong on Thursday to gauge demand for a listing worth up to $4 billion, braving a slump in equity deals with the city’s largest...
China’s State Insurers Give ‘Thumbs Up’ to Party with 50-year Bond Buy
Nov 14 2012 // China’s state-owned insurers gave a vote of confidence in the ruling Communist Party as it winds up its five-yearly congress on Wednesday, taking the long view by snapping up a 50-year bond at a low rate. Sovereign...
Va. Court: Chinese Drywall Damage Excluded From Homeowners Policy
Nov 5 2012 // The Virginia Supreme Court ruled last week that home damages that were allegedly caused by Chinese drywall are excluded from TravCo Insurance Co.’s “all risk” homeowners insurance policy. TravCo Insurance...
Xchanging Unveils Plans for More Asian Expansion
Nov 5 2012 // Xchanging, the business process, procurement and technology services provider and integrator, has announced its intention to open new delivery centers at two locations in Asia. The service provider already operates in 11...
China’s Ping An Insurance Reports Profit Up 20.6%
Nov 1 2012 // Ping An Insurance Co. of China said its quarterly profit rose 20.6 percent on strong premium growth but warned tougher conditions are ahead. Ping An said it earned 2.1 billion yuan ($337 million) in the three months ending...
CNinsure Opens First Sales Support Group
Oct 18 2012 // Chinese insurance intermediary CNinsure Inc. is setting up CNinsure Sales Service Group Company Limited, which it said is the first insurance sales service group company in China. The new group will officially launch...
China Life Warns on Profits
Oct 17 2012 // China Life , the world’s largest insurer by market value, warned of a 55 percent fall in profits in the first nine months – pointing to its first quarterly loss since 2008. The warning from the state-controlled...
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...
