Break-up insurance for “Hiddleswift” cancelled

break-up insurance - Tom Hiddleston Taylor Swift Hiddleswift

Taobao had been selling policies against a split between Taylor Swift and Tom Hiddleston. The massive Chinese marketplace, Taobao, was selling break-up insurance against a split in the relationship between Tom Hiddleston and Taylor Swift. However, those sales have now been shut down. Alibaba, the company that owns Taobao, put a stop to the sale of the celebrity insurance policies. Taobao sold the break-up insurance policies just in case the Hiddleswift relationship isn’t forever. The coverage promised double the purchase price in payment if the celebrity couple were ever to…

Read More

Third largest insurance market is now China

China insurance market news

Figures released by the China Insurance Regulatory Commission (CIRC) show a surge over the past half decade. Following five years of tremendous surges in growth in the Chinese insurance market, premiums from that country have now brought it up to the third place spot among the largest marketplaces in the world. This was shared as a part of a report produced by the China Insurance Regulatory Commission (CIRC). The third place insurance market position was actually achieved in 2015, though the figures were only just tallied by the CIRC. The…

Read More

Insurance news reports suggest $1-$1.5 billion in losses from Tianjin explosions

These reports are based on the blasts that have rocked the Chinese port city and surrounding area. The two sets of explosions that devastated Tianjin, the Chinese port city, and that killed over 100 people, so far, are now making insurance news again as initial estimates are being released that indicated that covered losses will be anywhere from $1 to $1.5 billion. This initial estimate was released by Credit Suisse, based on early media reports from China. Tianjin is no small port. It is the third largest port on the…

Read More

Critical illness insurance coverage to expand in China

Beijing china health critical illness insurance

The country intends to broaden its current protection to include rural and urban residents by the end of 2015. China now has intentions to expand its critical illness insurance to the point that it will include all types of diseases within that category, and it will apply to residents of both rural and urban areas. The goal in the country is to have this new wider insurance coverage in place by the end of the year. The government recently made this official announcement and stated that the expansion of critical…

Read More

China’s insurance industry is surging

china newspaper mobile life insurance products

Insurance industry is experiencing rampant growth as more consumers purchase coverage China’s insurance industry is experiencing a period of rapid growth, according to the China Insurance Regulatory Commission. The organization has released information that showed that the country’s insurers have recorded a total premium income of $320.5 billion in 2014. Premiums revenue has grown by 17.5% last year, the highest margin it has grown by in the past three years. The insurance industry has been experiencing a surge as more people purchase coverage in several different sectors. Consumers are using…

Read More

Deposit insurance fund may soon be coming to China

China insurance market news

The central bank in the country could be assembling this fund as soon as 2014. As a step toward the establishment of an independent deposit insurance company, the central bank in China will likely be assembling a fund of that nature within the next year so that it will be prepared to provide the necessary coverage when its new product arm is ready to launch Although this action has yet to be officially confirmed, the news has been leaked by several unnamed sources. These sources, close to the central bank,…

Read More

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…

Read More

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…

Read More

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…

Read More

China to strengthen regulations for growing insurance industry

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…

Read More