Live Insurance News

Insurance industry in China broke $1.18 trillion last year

January 25, 2013January 25, 2013 H. Cutner

Largest insurers in China have legal problems

The total assets within that country for that sector rose by 22.3 percent last year. According to data from the China Insurance Regulatory Commission, the total assets of the insurance industry in the country rose last year by 22.3 percent. The assets in 2012 increased to the point that they reached $1.18 trillion. This is the equivalent to 7.36 trillian yuan worth of assets in the Chinese insurance industry. The achievement that has just been announced represents the first time that the sector in the country broke the CNY 7…

Insurance industry regulator in China expected to deny HSBC deal

January 10, 2013April 30, 2013

Experts predict that the $9.4 billion sale of the Ping An stake will be rejected. According to media reports, it is expected that the Chinese insurance industry regulator will refuse the sale of HSBC’s stake in Ping An Insurance – a deal worth $9.4 billion – to a conglomerate CP group in Thailand. Should the deal fail, it will be a difficult hit to HSBC and will cause embarrassment among other parties involved. This insurance industry deal was aligned to be the second largest that occurred last year. However, if…

Insurance industry news made with Ping An sale to CP Group

December 8, 2012April 30, 2013

The acquisition is reported to have been for a total $9.4 billion for a 15.57 percent stake in the insurer. The news has now been released that the Charoen Pokphand Group is taking its first steps into the insurance industry, with the acquisition of 15.57 percent of Ping An Insurance (Group) Company of China. The purchase of the stake in the Chinese insurer was from HSBC Holdings. The announcement from HSBC that it was involved in a negotiation for the sale of its share of Ping An was first made…

Insurance news from China shows it easing access for foreign investment

September 24, 2012April 30, 2013

The country is making it easier for companies from around the world to join the industry. According to an American business group, China has announced its latest insurance news by saying that its restrictions on foreign companies within that industry as well as in delivery and travel will be eased as a part of an effort to turn around the current plummet in foreign investors. Some of these efforts were revealed in talks between the United States and China last May. However, additional details are now being added at this…

China to strengthen regulations for growing insurance industry

April 10, 2012April 10, 2012 Nordstrom

Major changes for China insurance industry. The insurance industry in China is growing at a rapid rate. The country recently opened up its borders to foreign insurers looking to expand into new markets and this initiative has been quite successful. As more insurance companies enter the Chinese market, however, regulators are growing concerned over their ability to comply with the country’s laws and expectations. These concerns have grown too large to ignore any longer and the China Regulatory Commission has announced that it will be strengthening the supervision of the…