Ten years ago, foreign insurers were lining up to celebrate China’s entry into the World Trade Organization, eager to tap what was certain to become the world’s next big insurance frontier. A decade on, it is mainly the local insurers …
China, the world’s largest auto market, is likely to open its mandatory auto insurance market to foreign companies next year, chairman of the Insurance Association of China said on Wednesday. The 200 billion yuan ($31.53 billion) auto insurance market is …
China will allow insurers to broaden their investment channels into private equity and real estate, a long-awaited move that could unleash as much as $100 billion worth of fresh funding into unlisted firms and the property sector. Chinese insurers are …
Zurich Financial Services is actively talking with sovereign wealth fund China Investment Corp and major steelmaker Baosteel on fundraising plans for their venture New China Life Insurance, a Zurich Financial executive said on Tuesday. Johnny Chen, Zurich Financial’s chief executive …
American International Group, seeking to raise cash to repay around $180 billion in bail-out loans, has agreed to sell its Hong Kong consumer finance and India-based IT services units. China Construction Bank (CCB) Asia, the country’s second-biggest lender will buy …
China’s 3 trillion yuan ($440 billion) insurance industry was largely insulated from the U.S. subprime crisis that battered AIG and other foreign firms, but the fallout poses the toughest challenge in a decade as profits tumble and demand for insurance …
China Life Insurance Co, the world’s biggest life insurer by market value, is interested in buying Asian assets of American International Group, a senior China Life manager briefed on the situation said on Monday. “We want to buy parts of …
