Latest China Headlines
All the headlines from our China Topic Page, ordered by recency.
Ratings Roundup: Atradius, Catalana, China Group
Mar 6 2009 // Standard & Poor’s Ratings Services has lowered its long-term counterparty credit and insurer financial strength ratings on Atradius Credit Insurance N.V., Atradius Reinsurance Ltd., Atradius Trade Credit...
AIG’s AIA Gets Prudential (UK), Manulife Offers; China Life Declines
Mar 4 2009 // The UK’s Prudential Plc and Canada’s Manulife Financial Corp made preliminary offers for American International Group Inc.’s Asian unit, but Prudential’s offer fell short of what AIG wants for the...
Florida Homeowners’ Lawsuit Alleges Defective Chinese Drywall
Mar 4 2009 // A group of Florida homeowners sued German drywall maker Knauf Gips KG, its Chinese plasterboard units and several U.S. homebuilders on Monday, alleging contaminated drywall is sickening U.S. homeowners. The lawsuit said...
Ratings Roundup: Max Capital, CLICO, China Re, Exchange
Mar 2 2009 // Standard & Poor’s Ratings Services has placed its ‘BBB-‘ counterparty credit rating on Max Capital Group Ltd. on CreditWatch with positive implications following the company’s announcement that...
Easing Government Aid Terms Among Options Discussed by AIG, U.S.
Feb 27 2009 // The U.S. government may agree to finance the purchase of some American International Group Inc businesses and take direct stakes in others, a person familiar with the matter said Thursday. The wide range of options under...
AIG Mulls Further Government Stakes As Auction Deadline Looms
Feb 26 2009 // Beleaguered U.S. insurance giant American International Group may allow the U.S. government to take control of certain assets should the sale of stakes in various units fail to produce attractive offers, according to a...
China’s Dangerous Mines: 74 Die, 114 Injured in Latest Accident
Feb 23 2009 // A gas explosion ripped through a coal mine in northern China on Sunday, killing at least 74 miners and trapping dozens, state media said. It was the country’s deadliest coal mine accident in more than a...
UK’s Prudential Sells Taiwan Insurance Units
Feb 20 2009 // Taiwan’s China Life will buy most of Prudential Plc’s local insurance business, with the UK firm taking around a 10 percent stake in China Life, valued at T$2.18 billion ($64 million), the companies said. The...
S&P Withdraws, Affirms Ratings of Several ‘Minor AIG Subsidiaries’
Feb 5 2009 // Standard & Poor’s Ratings Services has announced various ratings actions on several subsidiaries of the American International Group. “These actions follow AIG’s decision to revise or terminate...
Xl Insurance Hires 8 Engineers for Global Property Loss Prevention
Jan 22 2009 // XL Insurance announced from its office in Hartford that the Company has hired eight new field engineers for its worldwide property loss prevention services business, XL Global Asset Protection Services (XL...
Swiss Re Analyzes Benefits of ‘Sustainable Agricultural Insurance’
Jan 9 2009 // “Agricultural insurance plays an important role in stimulating investment in agriculture and in stabilizing farmers’ income,” concludes a recently issued report from Swiss Re. The report, “Setting...
Corporate Fraud Scandals Can Detonate Anywhere
Jan 9 2009 // When it comes to corporate fraud scandals, nowhere is safe. Revelations of a $1 billion fraud at Indian IT firm Satyam Computer Services do not point to a higher systemic risk of accounting scandals in India, or even in...
Catastrophe Losses Up 7% in 2008, Making It One of Costliest Years for Insurers
Dec 30 2008 // The high frequency and severity of Atlantic hurricanes in 2008, coupled with other weather-related and man-made losses, placed the year among the costliest on record for insured catastrophe losses. That’s according...
Chubb Stresses Key Role of Corporate Governance in China
Dec 17 2008 // “Faced with increased risks from the global financial downturn, Chinese companies should strengthen their loss prevention and risk management techniques,” concludes an analysis presented by Chubb Corp. at a...
Marsh to Open 5th China Branch Office
Dec 17 2008 // Marsh announced that it has received regulatory approval to set up a branch office in Dalian, the largest city in China’s Liaoning province. “The new office is the fifth branch office outside of Beijing for...
AXA, Metlife, Prudential, China’s CIC in AIG Talks
Dec 10 2008 // Insurance firms Axa S.A., MetLife Inc. and Prudential Plc., as well as China’s sovereign wealth fund CIC, are all in talks to buy a unit of U.S. insurance firm American International Group in a deal that is likely to...
‘Made in China’ Label Battered by Product Contamination Scandals
Dec 8 2008 // Milk, toothpaste, cough syrup, pet food, eels, blood thinner, car parts, pork, eggs, honey, chicken, dumplings, cooking oil and rice — if you can fake it or taint it, you can almost guarantee it’s happened in...
Maryland Insurance Department Hosts Regulatory Interns from China
Dec 5 2008 // The Maryland Insurance Administration is hosting of two international interns from China through the National Association of Insurance Commissioner (NAIC)’s International Internship Program. From the China Insurance...
FDA Cites Progress on Food Safety
Dec 3 2008 // The U.S. Food and Drug Administration says it is making “significant progress” with its one-year program to protect both domestic and imported food from accidental and intentional contamination. “Science...
China Insurers Dodge Financial Crisis Bullet, But Risks Loom
Dec 1 2008 // China’s 3 trillion yuan ($440 billion) insurance industry was largely insulated from the U.S. subprime crisis that battered AIG and other foreign firms, but the fallout poses the toughest challenge in a decade as...
