Latest China Headlines
All the headlines from our China Topic Page, ordered by recency.
CIRC Lifts Suspension of Willis China Office in Guangzhou
Aug 12 2005 // Willis Group Holdings Limited announced that the suspension of the license of its Guangzhou, China, branch office to accept new business has now been lifted. Willis said the “suspension related to a misunderstanding...
Zurich Global Energy Appoints Barber
Aug 2 2005 // Zurich Global Energy announced the appointment of Chris Barber as Global Energy onshore property manager for Asia. The appointment follows the creation of the Greater China unit under CEO Johnny Chen at the start of 2005...
Foreign Insurers in China – Risk or Opportunity?
Jul 28 2005 // With only four percent of its 1.3 billion people holding insurance policies, China represents the world’s largest but also perhaps most challenging opportunity for foreign insurers, according to a study published by...
AEGON to Sell Life Insurance Through Banks in China
Jul 25 2005 // AEGON-CNOOC Life Insurance Company Ltd., the 50/50 joint venture of AEGON with China National Offshore Oil Corporation (CNOOC), has signed national cooperation agreements with two leading banks in the People’s...
China’s PICC Uses AIR Model for Earthquake Risk Analysis
Jun 28 2005 // AIR Worldwide Corporation has announced that China’s PICC Property and Casualty Company Limited has completed the first earthquake risk analysis using AIR’s China earthquake model. Guy Carpenter coordinated the...
Aon Secures First Agricultural Reinsurance Contract in China
May 20 2005 // Aon Re China Limited, a unit of Aon Corp., has secured 100 percent placement of the first agricultural reinsurance contract in China. The contract was awarded by the Shanghai Anxin Agricultural Insurance Co. Ltd. (AAIC),...
New Lloyd’s Research Reveals Underwriters’ Industry Views and Concerns
Apr 19 2005 // Lloyd’s underwriters believe that buyers are more concerned about pricing than current insurance industry investigations – according to new research released Tuesday. The research* also reveals that...
PICC to Form Chinese Life Venture
Apr 13 2005 // China’s PICC Property and Casualty Co. Ltd., the country’s largest P/C insurer, is poised to enter the rapidly expanding Chinese life insurance market with the announcement that it is forming a joint venture...
Horton China Desk Offers U.S. Brokers an Option When Placing Coverage in China
Mar 18 2005 // The Horton Group of Orland Park, Ill., has announced a new facility to assist agents and brokers in the United States with placing and servicing property, casualty and employee benefit covers directly into the...
IAG Plans to Buy 25% of China Pacific Property
Feb 21 2005 // Insurance Australia Group (IAG), the country’s largest automobile and home insurer, is reportedly planning to buy a 25 stake in China Pacific Insurance Co.’s property unit. A report from Bloomberg.com said that...
Best Affirms Rating for China International Reinsurance
Feb 15 2005 // A.M. Best Co. has affirmed the financial strength rating of A- (Excellent) and assigned an issuer credit rating of “a-” to China International Reinsurance Company Limited (CIRe) (Hong Kong). The outlook is...
Zurich Appoints Chen to Head Greater China Group
Jan 24 2005 // Zurich Financial Services Group announced the appointment of Johnny Chen, 45, as CEO of its recently established Greater China business effective March 1, 2005. “In this newly created position, Johnny Chen will...
China’s Guangdong Province Posts $1.2 Billion in 2004 Property Premium
Jan 19 2005 // A report from Beijing (through Yahoo’s news services) notes that China’s Guangdong Province collected property insurance premiums of about 10.1 billion yuan ($1.2 billion) in 2004, up 15 per cent year from the...
RGA to Open Representative Office in China
Jan 13 2005 // Reinsurance Group of America, a reading life reinsurer, announced that it has received approval from the China Insurance Regulatory Commission to open a representative office in China, its eighth location in the Asia...
Best Affirms Toa Re ‘A+’, ‘aa’ Ratings
Jan 7 2005 // A.M. Best Co. announced that it has affirmed the financial strength rating of “A+” (Superior) of Japanese reinsurer The Toa Reinsurance Company, Limited, and has assigned an “aa-” issuer credit...
China Marks 3rd Anniversary of WTO Admission; Drops Locality Limits
Dec 13 2004 // China marked the third anniversary of its official accession to the World Trade Organization (Dec. 11, 2001) with the announcement that it will no longer restrict foreign firms’ access to its insurance market to...
GE Insurance Solutions Details Additions to Global Management Staff
Nov 18 2004 // GE Insurance Solutions has announced the addition of expertise to its Property Insurance & Services, Global Asset Protection business unit. Field Operations Leader Tim Heinze said the unit has had a “great...
WHO Study Finds Auto Accidents in China Kill 600 People Every Day
Oct 10 2004 // A report from the World Health Organization estimates that more than 600 lives are lost and more than 45,000 people are injured on China’s roads every day. People living in low and middle-income countries suffer the...
Willis Acquires Grande Insurance Brokers, Hong Kong
Oct 6 2004 // Global insurance broker Willis Group Holdings announced the purchase of the business portfolio of Hong Kong-based insurance broker The Grande Insurance Broker Limited. Terms of the transaction were not disclosed. Willis...
India – Fascinating, Frustrating and Growing
Sep 20 2004 // This is the second in a series of articles on the Asia insurance marketplace. The next article in this series will focus on Japan and will appear in an October issue of Insurance Journal. An ancient Indian parable tells...
