Third largest insurance market is now China

February 12, 2016February 11, 2016 Julie Campbell

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…

US group makes insurance news in China with new disaster recommendations

September 1, 2015August 30, 2015 H. Cutner

An American business group has started to urge China to boost its coverage and service industry access. At the end of last week, an American business group made insurance news as it started urging China to boost its access to insurers as well as businesses from other service industries, as they claim that the boost of foreign skills could help the country to enhance its shaky stock markets and to be able to better cope with catastrophes such as the recent Tianjin chemical explosions. The group feels it would be…

Bank deposit insurance has nearly arrived in China

December 2, 2014December 2, 2014 H. Cutner

The country is close to launching the coverage that could open up free competition by banks for customers. China is drawing ever closer to the launch of a bank deposit insurance system that has long been anticipated but that has yet to have been accomplished, and that could completely overhaul that country’s financial sector. This change could hike the risk level in the banking sector and could make it possible for immense future opportunities. By introducing a system of bank deposit insurance, it could mean that there may one day…