Latest China Headlines
All the headlines from our China Topic Page, ordered by recency.
China Floods Kill 55; Over 1 Million Flee Homes; More Rain Forecast
Jun 16 2008 // State media reported that 55 people have been killed and seven are missing in flooding across a broad stretch of southern China. A Sunday, June 15, report by the official Xinhua News Agency says more than 1 million people...
Foreign Insurers Look at Potential Acquisitions in a Weakened U.S. and E.U.
Jun 16 2008 // Asian Insurers May Buy in U.S., E.U.; Bermuda Beefs Up Regulators; Zurich Favored for Acquisition Asian insurers may go on a buying spree. A number of companies, particularly China’s major players, are likely to...
Aftershock Rocks China Quake Lake, But no Evacuations Ordered
Jun 10 2008 // Chinese soldiers used anti-tank weapons to blast away rocks and mud holding back waters in an earthquake-formed lake that threatens more than 1 million people living downstream. Television and official Web sites showed...
Willis Risk Manager Conference Examines Brazil, China Energy Sector
Jun 4 2008 // Willis recently hosted a conference of senior risk managers from the US oil and gas industry at its inaugural Global Risk Challenge seminar in Houston. They concentrated on finding out more about some of the major...
Asian Insurers Expected to Seize on Credit Crunch as Opening to Buy in U.S. and Europe
Jun 3 2008 // Asian insurers, particularly China’s major players, are likely seize the credit crunch as an opportunity to snap up assets in Europe and the United States, senior insurance figures said on Tuesday. “Asian...
U.S. Court Approves Pet Food Maker’s $24 Million Lawsuit Fund
Jun 2 2008 // Menu Foods Income Fund said Friday that a U.S. court gave preliminary approval to a settlement agreement covering lawsuits in U.S. and Canadian courts. Menu Foods was was hit by more than 100 class action lawsuits last...
The Reluctant Bride: Insurance Australia Group Rejects QBE’s Latest Offer
Jun 2 2008 // Quake Shatters China’s Sichuan Province; Willis Shows Off New London Headquarters; AIG Wins One, Loses One After five weeks of high level discussions, Australia’s QBE Group withdrew its offer to acquire...
Starr Foundation Pledges $1 Million for China Earthquake Relief
May 30 2008 // The Starr Foundation of New York and Starr International Foundation of Switzerland have announced a joint grant to the China Charity Federation totaling $1 million for earthquake relief in China. The donation was...
RMS Attends Chinese Regulatory Conference to Promote Data Standards
May 30 2008 // In the wake of the devastating Sichuan earthquake, representatives from The China Insurance Regulatory Commission (CIRC), Risk Management Solutions (RMS), and China’s Institute of Engineering Mechanics (IEM) met with...
China’s CNinsure Forms Two New Agencies
May 28 2008 // China’s CNinsure Inc. announced the signing of definitive agreements with several individual entrepreneurial agents to jointly establish Jiangsu Fanhua Lianchuang Insurance Agency Co. Ltd. (‘Lianchuang’)...
ChinaGrowth to Acquire UIB Group
May 28 2008 // ChinaGrowth North Acquisition Corporation (CGNAC) announced that it has entered into a Share Purchase Agreement to acquire the Chinese insurance broker UIB Group Limited. Following completion of the transaction, UIB will...
ACE Contributes $1 Million to China Earthquake Relief
May 27 2008 // The ACE Group of Companies announced that the ACE Foundation – International has made a $1 million contribution to the Red Cross Society of China to support emergency relief efforts following the earthquake that...
Former Regulator Yongwei Ma Joins CNinsure Board
May 23 2008 // CNinsure Inc., China’s major independent insurance agency and broker, announced that its Board of Directors has appointed Mr. Yongwei Ma, the former chairman of the China Insurance Regulatory Commission (CIRC), as an...
China Quake Estimates: 50,000 Dead; $9.5 billion in Company Losses
May 20 2008 // China’s government says companies suffered 67 billion yuan (US$9.5 billion; €7 billion) in direct losses from last week’s earthquake. The announcement by a deputy industry minister, Xi Guohua, came during a...
AIG: $1 Million for China Quake Relief
May 19 2008 // American International Group announced a $1 million (approximately 7 million RMB) donation to support relief and rebuilding efforts following the recent 7.9-magnitude earthquake that struck China’s Sichuan Province...
Fitch: China Quake ‘Not an Immediate Capital Issue’ for HK Insurers’
May 16 2008 // Fitch Ratings has issued a bulletin from its Hong Kong/Singapore offices indicating that “based on preliminary estimates, the earthquake in China is not expected to have a material impact on the balance sheets of the...
RMS Estimates China Quake Property Losses Could Reach $15 Billion
May 15 2008 // As the magnitude of the earthquake that struck China’s Sichuan Province on Monday, and the extent of the damage it caused, becomes more apparent, the loss estimates from the quake have escalated rapidly. Risk...
AIR Estimates China Quake Insured Losses Likely to Exceed $300 Million
May 14 2008 // Catastrophe risk modeling firm AIR Worldwide has issued an estimate that total losses to insured and uninsured property from the M7.9 earthquake that struck near Chengdu, China will likely exceed RMB 140 billion ($20...
UPDATE: RMS Analyzes China Quake
May 13 2008 // A report from Risk Management Solutions on the 7.5 magnitude earthquake that struck China’s Sichuan province on Monday reports that “over 7,000 casualties had been reported. More than 100 fatalities occurred...
Montana Auditor To Negotiate Insurance in China
May 12 2008 // Montana State Auditor John Morrison will represent U.S. insurance regulators in the U.S.-China Insurance Dialogues in Hangzhou, China, this week. The dialogues, part of trade negotiations between the two countries, are...
