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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Insurance news from HSBC includes intention to sell Ping An stake

China Insurance industry news

A share of approximately $9.3 billion of the Chinese insurer will be sold. The latest insurance news from HSBC is that it is currently in negotiations to sell its stake of the Chinese insurer, Ping An, which is worth approximately $9.3 billion. The intention is to boost the profitability of this largest bank in Europe. It will be accomplished as a part of a larger effort to slough away some of its non-core operations. The sale of the Ping An stake is not unexpected insurance news. It was relatively anticipated…

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Insurance news from China shows it easing access for foreign investment

China Insurance industry news

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…

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Insurance news from China shows expansion of health coverage

China Health Insurance agents

Chinese medical protection will be broadened to make sure that the sick can afford care. The latest insurance news from China is that the country has now announced that the national health coverage will be experiencing a notable expansion by bringing private insurers into the fold so that more major diseases will be covered. The goal is to shrink the mortality gap between urban and rural residents. It is also hoped that this will help to keep costs to a minimum. According to the Chinese health minister, Chen Zhu’s statement…

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Insurance news shows that China is a more challenging marketplace than anticipated

China Auto Insurance

The compulsory auto coverage has both advantages and drawbacks for insurers. The Chinese marketplace is a captive one, and though this would seem like it is positive insurance news, particularly for the insurers, themselves, it is coming with its struggles. Fitch Ratings has reported that this environment is leading to some surprising losses. Although the law in China requires all motorists to have a car policy, which should – in theory – dilute the risk that is associated with underwriting that coverage, the most recent insurance news numbers are showing…

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Accident insurance offered for free to disabled people in Beijing

Disabled Group Accident Insurance

Over four hundred thousand to benefit from this new group coverage. The Beijing Disabled Persons Federation has announced that the 410,000 people in the capital city of China who have a disability will be receiving free group accident insurance to help them to improve their quality of life. This program is a part of a greater improvement effort to the social security network in China. By offering accident insurance to the disabled individuals in the city, it is hoped that they will be better able to integrate with the rest…

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International insurance news from China shows new form of risk

China Auto Insurance

Drivers buying cars specifically for speed are increasing costs in the industry. Though international insurance news sources have estimated that the industry is worth about $50 billion for insurers in China, new rules are allowing foreign insurers to take their place in the country, as well, as they discover all new forms of risk that aren’t seen in other nations. Some consumers buy cars for speed and consider them disposable, even if they’re Ferraris. This risk is one of the major challenges faced by insurers from around the world –…

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