Latest China Headlines
All the headlines from our China Topic Page, ordered by recency.
Chinese Insurers Send Claims Teams to Site of Yangtze Ship Disaster
Jun 3 2015 // PICC Property and Casualty Co. Ltd., the insurer of a ship that capsized in China’s Yangtze River on Monday, and other insurers have sent teams to the site to settle claims in connection with what could be the...
Renewed Safety Concerns as Chinese River Ferry Capsizes with 400 People Aboard
Jun 2 2015 // Rescuers in central China are scrambling to find survivors from a cruise ship carrying more than 400 people that overturned in the Yangtze river Monday night, as confirmation of passenger deaths begin to emerge. Five...
West Virginia Woman Suing Lumber Liquidators Over Chinese-Made Flooring
Jun 2 2015 // A West Virginia woman who purchased flooring from Lumber Liquidators is suing the company, citing reports its Chinese-made laminate flooring contains high levels of the carcinogen formaldehyde. Genevieve Baldwin filed suit...
China Broker Says Clients Can No Longer Borrow to Buy Ping An Shares
Jun 1 2015 // The brokerage unit of Chinese financial firm Shenwan Hongyuan Group Co Ltd will stop lending money to clients to buy shares in Ping An Insurance Group, the latest move in China’s drive to tighten margin financing...
Fosun’s Equity Deals to Intensify as It Seeks to Fund Acquisition Ambitions
May 29 2015 // A $1.2 billion share sale by Fosun International Ltd. this month was likely only the start of a love affair with equity deals, bankers say, as the Chinese conglomerate seeks to cut reliance on debt to fund its huge...
Update: Russell Investment Exits Joint Venture With China’s Ping An
May 19 2015 // Russell Investment Management and China’s Ping An Insurance Group said they have terminated their investment joint venture after four years, the latest sign of friction between foreign fund managers and their Chinese...
China’s Fosun Plans to Raise $1 Billion to Fund Insurance Industry Acquisitions
May 11 2015 // Fosun International Ltd., the Chinese conglomerate that’s been buying insurers and property overseas, plans to raise $1 billion partly to fund acquisitions in the insurance industry. The company will sell the shares...
Chinese Drywall Maker’s 65% Owner Wants Out of Lawsuit
May 8 2015 // The majority owner of a company that made defective Chinese drywall says it should be dropped from a lawsuit with the potential for hundreds of millions of dollars in damages, because it does not manage the drywall...
Nepal Quake Biggest April Disaster: Aon Benfield/Impact Forecasting
May 8 2015 // Aon Benfield’s Impact Forecasting’s monthly catastrophe report for April highlights the catastrophic damage throughout Nepal, India, China, and Bangladesh, caused by the magnitude-7.8 earthquake that struck...
China Taiping Insurance Stock Jumps After Tech Moguls Join $1.7B Share Sale
May 8 2015 // China Taiping Insurance Holdings Co. jumped the most in more than six years after people with knowledge of the matter said China’s two richest technology moguls joined its $1.7 billion share sale. Taiping advanced 16...
China Taiping Insurance Plans to Raise $1.7 Billion in Private Share Sale
May 7 2015 // China Taiping Insurance Holdings Co. plans to raise HK$13.5 billion ($1.7 billion) in a private share sale after its stock price more than doubled in the past year. The insurer will sell 486 million shares at HK$27.74 a...
Updated: China’s Fosun to Buy Remaining Shares in Ironshore for $1.84B
May 4 2015 // Fosun International Ltd., the investment arm of China’s biggest closely held conglomerate, is planning a $1.84 billion merger with Ironshore Inc. after buying the shares it doesn’t already own in the...
Uber’s Office in Southern China Raided by Government: Xinhua News Agency
May 1 2015 // Authorities in the southern Chinese city of Guangzhou have raided the local office of online ride-hailing service Uber on suspicion of “unlicensed operation,” seizing a number of mobile phones, the official...
Nepal Quake Death Toll Exceeds 6,200; Rebuilding Costs Rise to $2B
May 1 2015 // The death toll from Nepal’s devastating earthquake rose steadily past 6,200 on Friday as fresh aftershocks and the stench of rotting bodies made it hard for nervous survivors to return to their homes. Disposal of the...
Ping An Profit Rises After Stock Rally Boosts Investment Returns
Apr 29 2015 // Ping An Insurance (Group) Co., China’s second-biggest insurer, said first-quarter profit rose 85 percent as stock-market rallies boosted investment returns and banking revenue expanded. Net income climbed to 20...
Meadowbrook Insurance Shareholders Approve Acquisition by Fosun
Apr 28 2015 // Meadowbrook Insurance Group, Inc., headquartered in Southfield, Mich., announced that the group’s shareholders have formally approved the pending acquisition of Meadowbrook by Fosun International Limited. In late...
AIA Reports 20% Hike in New Business During 1st Quarter
Apr 24 2015 // AIA Group Ltd., the third-largest Asia-based insurer by market value, said the value of new business climbed 20 percent in the first quarter, meeting analysts’ estimates. The measure of projected future profitability...
Willis Takes On Big Banks Seeking Asia M&A under Walkiewicz and Guo
Apr 20 2015 // Willis Group Holdings plc’s Rafal Walkiewicz and Michael Guo, who were promoted last week to lead the investment-banking operation, are focusing on Asia as they vie with Wall Street in advising insurance...
OneBeacon Explores Sale; China’s Fosun Interested: Sources
Apr 8 2015 // OneBeacon Insurance Group Ltd., a specialty insurer controlled by White Mountains Insurance Group Ltd., is exploring a sale, according to people with knowledge of the matter. OneBeacon has drawn interest from companies...
AIG Seeks $507 Million Through Sale of Some of Its Shares in China’s PICC
Mar 30 2015 // American International Group Inc. is seeking as much as $507 million through the sale of part of its holding in PICC Property & Casualty Co., China’s biggest non-life insurer. AIG, the largest commercial insurer...
