Alibaba, the world’s biggest e-commerce company, changed how China shops. Now the man driving its blockbuster U.S. stock sale wants to transform the rest of the country’s services industry, adding new users to the giant’s 300 million customers. Joe Tsai, …
People’s Insurance Company (Group) of China Ltd., parent of the nation’s biggest non-life insurer, said profit rose 53 percent in the first half as investment and premiums income expanded. Net income increased to 7.54 billion yuan ($1.23 billion), or 0.18 …
Liberty Mutual Insurance Group, through its wholly owned subsidiary Liberty Insurance Company Limited (LICL), was granted final approval on June 27th to commence business in Shandong by the China Insurance Regulatory Commission (CIRC). LICL’s Chongqing headquarters received CIRC approval in …
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 company surprised analysts …
U.S. Vice President Joe Biden said on Tuesday that China had agreed to an important financial sector reform by opening up its massive auto insurance market to foreign competition. Biden said that during a meeting with U.S. business chiefs and …
Foreign insurers will have to answer for themselves whether their disadvantaged position relative to domestic insurers in China is outweighed by the country’s very substantial overall market growth, according to Moody’s Investors Service. “Foreign firms have made little headway in …
