Chinese market News

As China’s Insurance Market Liberalizes, There Will Be Many Winners: Opinion

Foreign insurers, especially AIA Group Ltd., can break out the champagne: China’s opening of its financial markets is great news. The day after U.S. President Donald Trump left Beijing with billions of dollars of deals with President Xi Jinping, the …

China Unveils Rules Allowing Foreign Firms to Take Majority Stakes in Local Insurers

China took a major step toward the long-awaited opening of its financial system, saying it will remove foreign ownership limits on banks while allowing overseas firms to take majority stakes in local securities ventures, fund managers and insurers. The new …

China Pledges to Keep Easing Barriers to Entry for Foreign Insurers, Banks

China pledged to keep nudging open the door to its mammoth financial industry — but it will do so at its own pace. On Thursday, amid a slew of Sino-U.S. dealmaking during President Donald Trump’s visit to China, the Foreign …

China’s Former Insurance Regulator Faces Criminal Charges

China’s top anti-corruption agency says the country’s former insurance regulator has been expelled from the ruling Communist Party and turned over to prosecutors to face criminal charges. A weekend statement by the Central Commission for Discipline Inspection says Xiang Junbo …

China’s Ping An Reports Biggest Half-Yearly Profit in Decade

Ping An Insurance Group Co of China , the country’s second-largest insurer by market value, on Thursday reported its biggest half-yearly profit in at least a decade on robust growth in life insurance premiums. The strength in Ping An’s life …

Global Insurance M&A in H1 Drops to Lowest Point in 2 Years: Clyde & Co.

The volume of completed mergers and acquisitions (M&A) in the global insurance industry continued dropping during the first six months of 2017 to 170 deals, compared to 186 deals reported for the second half of 2016, according to Clyde & …

Demand for Cyber Insurance in China Expected to Rise After WannaCry Attack: AIG

Demand for cyber insurance from firms in Greater China and elsewhere in Asia is poised to soar, based on inquiries received after the “WannaCry ransomware” attack earlier this year, executives at American International Group Inc. said. The American insurer saw …

China’s Move to Curb Overseas Deals Designed to Avoid Japan-Style Bust

President Xi Jinping’s top economic adviser commissioned a study earlier this year to see how China could avoid the fate of Japan’s epic bust in the 1990s and decades of stagnation that followed. The report covered a wide range of …

China’s Graft-Buster Is Front Runner to Head Insurance Watchdog: Sources

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 the financial industry may be set to …

Swiss Re, Ping An Offer China’s 1st Mobile-Enabled Parametric Insurance Cover

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 affordable, easy-to-use insurance product for both individuals and …