Latest China Headlines
All the headlines from our China Topic Page, ordered by recency.
Quick Selldown of Anbang’s Overseas Assets May Prove Difficult
Aug 1 2017 // As Anbang Insurance Group Co. comes under pressure to reverse a $10 billion-plus global deal spree, a quick selldown of assets may not be so easy. China is said to have asked the acquisitive insurer to sell its overseas...
Chinese Government Asks Anbang Insurance to Sell Overseas Assets: Sources
Jul 31 2017 // When Anbang Insurance Group Co. agreed to buy New York’s iconic Waldorf Astoria hotel for $1.95 billion in 2014, the world took notice. It was a defining moment in the global rise of China Inc., a deal that would...
Fosun’s Chairman Supports Chinese Government Restrictions on Overseas M&A
Jul 31 2017 // Billionaire Guo Guangchang, whose Fosun International Ltd. is under scrutiny by Chinese authorities over its foreign mergers and acquisitions, said the government’s clampdown on outbound investments is necessary to...
Ironshore’s Pembroke Agency Launches Project Cargo Consortium for Lloyd’s China Platform
Jul 27 2017 // Ironshore’s Pembroke Managing Agency Ltd. has launched a Project Cargo Consortium to serve the Lloyd’s China platform, offering capacity limits of up to US$178 million. Pembroke Lloyd’s Syndicate 4000...
Tillerson’s State Department Reorganization Sidelines Cybersecurity Unit: Report
Jul 19 2017 // Secretary of State Rex Tillerson is shutting down an office that coordinates cyber issues with other countries, according to two people familiar with the plan, in a move that critics said will diminish the U.S. voice in...
China’s Central Bank to Assume Bigger Role in Oversight of Financial System
Jul 17 2017 // China’s central bank will take on a bigger role in macro-prudential management and in averting systemic risk in the financial system, President Xi Jinping said at a once-in-five-years government work conference that...
China Regulators End Insurer Deal Spree, Favoring Risk Managers, over Risk Makers
Jul 14 2017 // The revolution in China’s insurance industry that helped unleash about $80 billion of acquisitions started with a whimper and ended with a bang. With little fanfare, China’s top insurance official, Xiang Junbo,...
RMS Launches New Models for Tropical Cyclone & Earthquake in Asia Pacific
Jul 12 2017 // RMS, the Newark, Calif.-based risk modeling and analytics firm, has introduced typhoon models for wind and flood for South Korea and Taiwan, plus four new earthquake models for Singapore, Malaysia, Thailand and...
China’s Graft-Buster Is Front Runner to Head Insurance Watchdog: Sources
Jul 10 2017 // China is likely to name a senior Communist Party graft-buster to oversee the insurance sector, people familiar with the matter said, a signal that the country’s ongoing crackdown on irregular business practices in...
June Catastrophes Cost Global Economy $5 Billion; U.S. Storms Dominate: Aon
Jul 10 2017 // Floods and storms cost the global economy more than $5 billion in June, with most of those losses generated in the United States, according to an Aon catastrophe report. In the U.S., large hail, tornadoes, straight-line...
Swiss Re, Ping An Offer China’s 1st Mobile-Enabled Parametric Insurance Cover
Jul 7 2017 // Swiss Re has partnered with Ping An Property & Casualty Insurance Co. of China Ltd. to launch China’s first mobile-enabled typhoon property parametric insurance solution. This solution is designed to provide an...
Global Premium Growth Slows in 2016 – with China as Exception: Swiss Re
Jul 6 2017 // Global insurance premiums increased by 3.1 percent in real terms during 2016, down from growth of 4.3 percent reported in 2015, according to Swiss Re Institute’s sigma study. The report described last year’s...
China’s Fosun Denies Rumors that Chairman Guo Has Gone Missing
Jul 6 2017 // Chinese conglomerate Fosun saw shares in its listed units fall on Thursday, prompting it to refute online rumors that it had lost contact with its billionaire chairman, Guo Guangchang. The firm said in a statement Guo was...
China to Prosecute Ex-President of People’s Insurance for ‘Corrupt Practices’
Jul 5 2017 // China will prosecute the former president of the People’s Insurance Co (Group) of China Ltd after an investigation found he engaged in corrupt practices including bribery, the ruling Communist Party said on...
Jury Says Syngenta Must Pay Kansas Farmers $217.7M in GMO Corn Case
Jun 26 2017 // A U.S. jury has ordered Syngenta AG to pay $217.7 million to more than 7,000 Kansas farmers over its decision to commercialize a genetically modified strain of corn before China approved importing it. The June 23 verdict...
AIR Worldwide Launches Crop Hail Model for Canada
Jun 26 2017 // Catastrophe risk modeling firm AIR Worldwide announced it has released a Crop Hail Model for Canada to provide crop insurers with a probabilistic view of crop hail risk in Canada. Based on 10,000 simulations of potential...
Planned Sale of Israel’s Phoenix Holdings to China’s Yango Is Scrapped
Jun 26 2017 // Israeli energy conglomerate Delek said its planned sale of a controlling stake in Israeli insurer Phoenix Holdings to China’s Fujian Yango Group has been called off by both sides after it failed to secure regulatory...
Allianz Sets Its Sights on Asia-Pacific’s ‘Growth Engine’
Jun 21 2017 // Allianz SE, the German insurer that stemmed outflows at U.S. asset manager PIMCO, is now trying to bulk up on the other side of the world. “Asia is still a relatively small part of the overall global portfolio but it...
Anbang Says New York’s Waldorf Astoria Condo Conversion Proceeding Normally
Jun 15 2017 // The conversion of New York’s landmark Waldorf Astoria hotel into luxury condominiums is moving forward as planned and no delays are anticipated after the property’s owner, China’s Anbang Insurance Group...
Chinese Banks Backing Away from Anbang Insurance
Jun 15 2017 // Pressure is building on Anbang Insurance Group Co. as Chinese banks distance themselves from the owner of New York’s Waldorf Astoria hotel amid a wide-ranging government probe that landed Chairman Wu Xiaohui in...
