Latest China Headlines
All the headlines from our China Topic Page, ordered by recency.
Swiss Re Study Sees Economy Improving in 2013; Casualty Lines Recover
Dec 11 2012 // Swiss Re’s latest study, “Global re/insurance review 2012 and outlook 2013/14” provides a somewhat optimistic forecast of the future state of the global economy and the insurance markets. Swiss Re said:...
AIG’s $4.8 Billion Sale of Aircraft Unit to Chinese Group Faces U.S. Security Review
Dec 10 2012 // American International Group Inc. is to sell nearly all of ILFC , the world’s second-largest airplane leasing business, to a Chinese consortium for up to $4.8 billion, giving the fastest growing aviation market...
UPDATE: Chinese Group to Buy AIG’s Plane Leasing Unit for up to $4.8 Billion
Dec 10 2012 // American International Group has agreed to sell nearly all of ILFC , the world’s second-largest airplane leasing business, to a Chinese consortium for up to $4.8 billion, giving the fastest growing aviation market...
Storm that Killed 600 Turns to Threaten Philippines Again
Dec 10 2012 // A typhoon that had left the Philippines after killing nearly 600 people and leaving hundreds missing in the south has made a U-turn and is now threatening the country’s northwest, officials said Saturday. The weather...
China Arbitrators Rule Against Injured Foxconn Worker
Dec 7 2012 // Chinese labour arbitrators have ruled against the father of a Foxconn worker brain-damaged in a factory accident in southern China, in a case that puts more attention on the labour practices of Apple Inc.’s largest...
Chinese Firms in Talks to Buy AIG Aircraft Leasing Unit
Dec 7 2012 // A group of Chinese companies, including the Industrial and Commercial Bank of China (ICBC), is in talks to buy American International Group’s aircraft leasing unit for around $5.5 billion, a source familiar with the...
Thai Group Buys Ping An Stake from HSBC for $9.38 Billion
Dec 5 2012 // A conglomerate controlled by Thailand’s richest man, Dhanin Chearavanont, has bought a minority stake in China’s Ping An Insurance for $9.38 billion from global bank HSBC, a bold move that ranks as Asia’s...
Extreme Weather is New Normal, U.N.’s Ban Tells Climate Change Talks
Dec 5 2012 // Extreme weather is the new normal and poses a threat to the human race, U.N. Secretary-General Ban Ki-moon said on Tuesday as he sought to revive deadlocked global climate change talks. Ban’s intervention came as...
China’s Ping An Considers Legal Action vs. NY Times after Family Wealth Exposé
Nov 26 2012 // China’s second-biggest insurance company has threatened to take legal action against the New York Times for reports that Premier Wen Jiabao’s relatives had accumulated massive wealth, largely through holdings...
AIG, Others to Take up Half of China PICC’s $3.6 Billion Hong Kong IPO
Nov 21 2012 // Chinese state-owned insurer PICC Group has secured pledges from American International Group (AIG) and other investors to buy about half of its up to $3.6 billion IPO, set to be the biggest in Hong Kong in two years. The...
HSBC in Talks to Sell $9.3 Billion China Ping An Stake
Nov 19 2012 // HSBC said it was in talks to sell its $9.3 billion stake in China’s Ping An Insurance, stepping up a program by Europe’s biggest bank to shed non-core parts of its business to boost profitability. HSBC spent...
UPDATE: China’s PICC in Talks with AIG as Buyer for $4 Billion HK IPO
Nov 16 2012 // China’s PICC Group is in talks with American International Group and others to become cornerstone investors for its planned listing worth up to $4 billion, in what will be Hong Kong’s biggest IPO in two...
Judge Urged to Approve Chinese Drywall Settlements
Nov 15 2012 // Attorneys for thousands of Gulf Coast property owners urged a federal judge in New Orleans to give his final approval to a proposed class-action settlement that calls for a Chinese drywall manufacturer to pay hundreds of...
China’s PICC Group to Raise up to $4 Billion in Hong Kong IPO
Nov 15 2012 // Chinese state-owned insurer PICC Group started meeting institutional investors in Hong Kong on Thursday to gauge demand for a listing worth up to $4 billion, braving a slump in equity deals with the city’s largest...
China’s State Insurers Give ‘Thumbs Up’ to Party with 50-year Bond Buy
Nov 14 2012 // China’s state-owned insurers gave a vote of confidence in the ruling Communist Party as it winds up its five-yearly congress on Wednesday, taking the long view by snapping up a 50-year bond at a low rate. Sovereign...
Va. Court: Chinese Drywall Damage Excluded From Homeowners Policy
Nov 5 2012 // The Virginia Supreme Court ruled last week that home damages that were allegedly caused by Chinese drywall are excluded from TravCo Insurance Co.’s “all risk” homeowners insurance policy. TravCo Insurance...
Xchanging Unveils Plans for More Asian Expansion
Nov 5 2012 // Xchanging, the business process, procurement and technology services provider and integrator, has announced its intention to open new delivery centers at two locations in Asia. The service provider already operates in 11...
China’s Ping An Insurance Reports Profit Up 20.6%
Nov 1 2012 // Ping An Insurance Co. of China said its quarterly profit rose 20.6 percent on strong premium growth but warned tougher conditions are ahead. Ping An said it earned 2.1 billion yuan ($337 million) in the three months ending...
CNinsure Opens First Sales Support Group
Oct 18 2012 // Chinese insurance intermediary CNinsure Inc. is setting up CNinsure Sales Service Group Company Limited, which it said is the first insurance sales service group company in China. The new group will officially launch...
China Life Warns on Profits
Oct 17 2012 // China Life , the world’s largest insurer by market value, warned of a 55 percent fall in profits in the first nine months – pointing to its first quarterly loss since 2008. The warning from the state-controlled...
