Live Insurance News

International insurance news from China shows rural medical coverage boost

January 8, 2013January 8, 2013 H. Cutner

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…

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 AIG now includes Chinese joint venture

November 23, 2012November 22, 2012 Julie Campbell

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…

Insurance news from HSBC includes intention to sell Ping An stake

November 20, 2012April 30, 2013

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…

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…