Latest China Headlines
All the headlines from our China Topic Page, ordered by recency.
China Life Interested in Acquring AIG Asia Assets
Nov 24 2008 // China Life Insurance Co, the world’s biggest life insurer by market value, is interested in buying Asian assets of American International Group, a senior China Life manager briefed on the situation said on...
Report China Fund Seeks Stake in AIG Unit
Nov 21 2008 // A consortium led by sovereign wealth fund China Investment Corp is in talks to buy a 49 percent stake in American Life Insurance Co (Alico), a unit of AIG, in a deal that could be worth up to $10.6 billion, Japan’s...
U.S. Alters Strategy with China on Product Safety; Opens China Offices
Nov 19 2008 // The United States said this week that it has embarked on a new strategy with China to ensure that products imported into the U.S. are safe. Worries about the quality of Chinese exports to the U.S. have become a major...
Willis China Launches Single Broker Retail OfficesTechnology Platform
Nov 18 2008 // Willis Group Holdings has launched a single broking technology platform for its 20 retail offices across China and has established a new operations center in Shanghai. Willis said the initiatives would “further drive...
CNinsure Appoints New COO
Nov 17 2008 // CNinsure Inc., one of China’s largest independent insurance intermediaries, announced the appointment of Feng (Fred) Jin as Chief Operating Officer. He will take on the COO’s role in addition to his present...
EU, U.S. Warn China on Toy Safety Before Christmas
Nov 17 2008 // The consumer chiefs of the European Union and the United States called on China on Monday to crack down on unsafe products, especially toys, ahead of Christmas. More than 20 million Chinese-made toys were recalled...
Euro Zone in Recession as World Leaders Head for Summit
Nov 14 2008 // Recession has struck much of Europe, data showed on Friday, confirming a widespread economic downturn that world leaders hope to tackle at a weekend summit in Washington. The worst financial crisis in 80 years has weakened...
Ex-CEO Greenberg Sees Value in AIG Asian Operations
Nov 13 2008 // Maurice “Hank” Greenberg, former CEO of American International Group Inc., said he would consider buying AIG’s Asian life insurance operations if the firm were to put this flagship business on the...
Ratings Recap: Arch Re (Europe), Singapore Re, AIG (Taiwan), Eurasia, Hyundai (China)
Nov 10 2008 // Standard & Poor’s Ratings Services has assigned its ‘A’ counterparty credit and financial strength ratings to Arch Reinsurance Europe Underwriting Ltd. (Arch Re Europe), a newly formed Ireland-based...
Business Moves
Nov 2 2008 // The Hartford, Allianz SE The Hartford Financial Services Group Inc. finalized a $2.5 billion capital investment by Allianz SE. Under the agreement, Allianz purchased, at $31 per share, $750 million of preferred shares...
China Says Greenhouse Gas Emissions Catch up with U.S.
Oct 29 2008 // China’s greenhouse gas emissions have caught up with the United States and will not fall any time soon, a top Chinese official said on Wednesday, while warning of a huge economic blow from global warming. The...
China’s Life Insurers Post Disappointing Results
Oct 27 2008 // China’s biggest life insurers posted disappointing quarterly results on Monday, hurt mainly by investment income which took a hit from plunging stock markets across the region. China Life Insurance, the...
Lockton Celebrates Opening of Shanghai Office
Oct 24 2008 // Lockton has celebrated the granting of its Wholly Owned Foreign Enterprise (WOFE) insurance brokerage license to operate in China with a Grand Opening of its new Shanghai office. The license was granted earlier this year...
Bank of Beijing Eyes Buying into ING Insurance JV
Oct 21 2008 // The Bank of Beijing, which is 16 percent owned by the Netherlands ING Groep NV, said on Tuesday it is in talks to buy a 50 percent stake in one of ING’s life insurance ventures in China from the venture’s...
Risk Management Solutions Opens Beijing Office
Oct 21 2008 // Newark, Calif.-based Risk Management Solutions has opened a new office in Beijing, China, as a sign of its commitment to support the growth of the property insurance industry and risk mitigation efforts in China. The...
AIR Estimates China Typhoon Insured Losses at $100 to $250 Million
Sep 29 2008 // Catastrophe risk modeling firm AIR Worldwide estimates that insured losses to onshore properties in China from both wind and precipitation-induced flooding from Typhoon Hagupit will be between $100 million and $250...
PCI Tells U.S. Trade Commission China Insurance Link Important
Sep 24 2008 // In testimony before the U.S. International Trade Commission, the Property Casualty Insurers Association of America (PCI) stressed the “importance of the U.S.-China insurance trade relationship.” The PCI also...
CNinsure Sees ‘Slight Decline’ in Revenues from New China Regulations
Sep 22 2008 // China’s CNinsure Inc. announced that its commissions and fee revenues from its P&C insurance business is “expected to decline slightly due to the implementation of a new Working Scheme on Further...
Ratings Recap: AIG (Taiwan) Lehman Re, Swiss Re (Denmark), Connaught, Allianz (Austria), China Ins. (Singapore)
Sep 18 2008 // Standard & Poor’s Ratings Services has lowered its long-term counterparty credit rating and insurer financial strength rating on AIG General Insurance (Taiwan) Co. Ltd. (AIG Taiwan), to ‘A’ from...
Japan Insurers, QBE Seen Eyeing AIG Assets; China Less Likely
Sep 17 2008 // Japan’s well-capitalized and acquisitive insurers and Australia’s top player are seen as potential buyers if reeling U.S. heavyweight AIG sells assets, analysts and fund managers said. However, China’s...
