HSBC EXPANDS INSURANCE BUSINESS INTO BEIJING

HSBC Life Insurance Company Limited (HSBC Life), a 50:50 joint venture between HSBC Insurance (Asia) Limited and Beijing-based The National Trust Limited, marked the official launch of its insurance operations in Beijing in a ceremony held today after receiving a licence to offer HSBC insurance products in the city recently. HSBC Life has been operating in Shanghai since August 2009. HSBC’s expanded insurance presence in China will enable HSBC and Hang Seng Bank customers across a combined 14 outlets in Beijing to access a comprehensive range of HSBC insurance solutions…

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China Life Insurance, Their Vision for 2011

One of China’s largest providers of life insurance, China Life Insurance Co., stated today that it will continue to focus on their fixed-income investments throughout this year. The announcement comes amidst a series of rate hikes occurring within the industry. China Life Vice President, Liu Jiade, has said that the insurer’s fixed-income products will account for approximately 78% of the company’s investment portfolio in 2011. Last Tuesday, China Life reported that their net profits for last year did not meet expectations. While profits rose by 2.3%, the insurer had a…

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