Insurance industry in China has experienced a profit doubling

china insurance industry

The country saw a profit of 204.7 billion yuan in 2014, which was over twice what was seen in 2013. The insurance industry in China has now recorded a record breaking profit last year, when it recorded a profit of 204.7 billion yuan (about $32.84 billion), which represented more than double the amount that was brought in during 2013, according to data from a regulator. The China Insurance Regulatory Commission released a press document providing insight into the sector’s performance. It showed that the premium investment capital gains from last…

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Insurance news in China reveals intentions to invest in foreign real estate

China Insurance industry news

Experts have predicted that these Chinese investors will be making their main focus in large cities. The latest insurance news from China is that their insurance funds are now looking to make investments into properties into the biggest Asian cities outside of its own borders. The prediction is that there will be approximately $14 billion (USD) focused on real estate. This insurance news has indicated that the primary real estate markets could be the largest cities in Hong Kong, Malaysia, Thailand and Singapore. The insurance funds will be focusing on…

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Insurance industry in China broke $1.18 trillion last year

China Life Insurance industry

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…

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Insurance industry regulator in China expected to deny HSBC deal

US life insurance policy payout ruling

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…

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International insurance news from China shows rural medical coverage boost

china insurance industry

Health plans for residents of areas outside of urban and suburban zones will receive larger government subsidies. On Monday, China made international insurance news with its latest announcement from the health minister of the country, Chen Zhu, which stated that the government of the nation would be increasing the subsidies that it provides to the medical coverage available to rural residents in 2013. The annual subsidy will be increased by an average of 40 yuan per person. The government subsidy that will now be available to rural residents in this…

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Insurance industry news made with Ping An sale to CP Group

China Insurance industry news

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…

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Insurance news from AIG now includes Chinese joint venture

AIG Insurance Industry Marketing

American International Group has announced that it will be working with PICC. The latest insurance news from U.S. insurer American International Group, Inc., is that it will be entering into a joint venture with the life policy business unit of People’s Insurance Co. (Group) of China, Ltd. This may place AIG into a situation where it is competing directly with its former Pan-Asian business unit. This insurance news has been released as the insurer announced that it would be purchasing $500 million worth of PICC shares in that companies up…

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