November 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 long-awaited …
November 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 $1.7 billion to …
November 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 years. State-owned insurer PICC started …
November 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 IPO in two years. People’s …
October 3, 2012
Hong Kong authorities began inspecting the wreckage of a leisure boat on Wednesday amid questions over how a collision with a commuter ferry in relatively calm weather killed 38 people in one of the city’s worst accidents in recent decades. …
October 2, 2012
At least 37 people died and dozens were injured when a ferry carrying more than 120 people on a company outing collided with another ferry and sank near an island south of Hong Kong on Monday night in one of …
August 22, 2012
A.M. Best Co. has upgraded the financial strength rating (FSR) to ‘A+’ (Superior) from ‘A’ (Excellent) and the issuer credit rating (ICR) to “aa-” from “a+” of Japan’s NIPPONKOA Insurance Company Ltd. Best also affirmed the FSR of ‘A’ (Excellent) …
July 25, 2012
According to catastrophe modeling firm AIR Worldwide, Typhoon Vicente, the 8th named storm to form in the Northwest Pacific this year, struck Hong Kong at 4 a.m. Tuesday (July 24, 2012). Accompanied by heavy rains, a central pressure of 950 …
July 12, 2012
Global private equity fund Blackstone Group LP is backing Mark Wilson, the former chief of AIA Group Ltd, in the bidding for ING Groep NV’s Asia insurance unit, a source directly familiar with the matter said. The consortium led by …
May 18, 2012
The DLA Piper law firm announced that a group of lawyers led by partners Joyce Chan and Heng Loong Cheong will join its Hong Kong office from Dewey & LeBoeuf. The move signals yet another step in the meltdown of …