Thursday, February 22, 2018

China

China Life posts 71% profit rise

China Life posts 71% profit rise

China Life continues to widen its footprint after bumper life insurance sales during the first half.

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Anbang reportedly buying Canadian office tower

Anbang reportedly buying Canadian office tower

The Chinese insurer is said to be conducting due diligence to acquire a 17-storey building in Toronto’s financial district.

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Tianjin lesson: Open insurance market to foreigners, says Lloyd’s

Tianjin lesson: Open insurance market to foreigners, says Lloyd’s

Lloyd’s reinsurance head says China needs to let foreign insurers enter the market after Tianjin wake-up call.

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Ping An sees overseas M&A hitting US$7.8bn for 2015

Ping An sees overseas M&A hitting US$7.8bn for 2015

China’s second-largest insurer continues to boost its overseas assets as home market falters.

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Tianjin blast losses still difficult to estimate, says AM Best

Tianjin blast losses still difficult to estimate, says AM Best

Despite publicised estimates, residents within 3km of the blast site are yet to be assessed.

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Bank of China buys majority stake in Samsung life unit

Bank of China buys majority stake in Samsung life unit

The Chinese lender has paid US$200m for a 51% stake in Samsung Air China Life Insurance.

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IAG seeks bigger China presence after profit drop

IAG seeks bigger China presence after profit drop

A 41% drop in full-year net profit has prompted a strategic review for the Australian insurer.

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Ping An Insurance posts 62% profit rise

Ping An Insurance posts 62% profit rise

First-half profits were boosted by gains from stock investments and life insurance products.

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Four Chinese firms bid for Israel’s Clal Insurance

Four Chinese firms bid for Israel’s Clal Insurance

Four Chinese groups have submitted bids to buy control of Israel’s second-biggest insurer.

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Tianjin blast losses could be higher than estimates

Tianjin blast losses could be higher than estimates

Fitch says insurance losses from explosion could be more than US$1.5bn.

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Tencent said to invest in new life insurer

Tencent said to invest in new life insurer

China’s largest internet firm is reportedly eyeing a new US$1.5bn venture.

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CIRC seeks quick response to Tianjin claims

CIRC seeks quick response to Tianjin claims

China Insurance Regulatory Commission has urged insurers to prioritise claims from last Wednesday’s blasts.

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Chinese online insurance sales triple in first half

Chinese online insurance sales triple in first half

Sales reach more than Rmb80bn, though online still accounts for less than 5% of China’s insurance premiums.

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Chinese blast claims could reach US$1.5bn

Chinese blast claims could reach US$1.5bn

Chinese insurance companies are bracing themselves for huge insurance claims after the Tianjin explosion.

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Oceanwide to launch Chinese reinsurer

Oceanwide to launch Chinese reinsurer

The Chinese property conglomerate has announced plan to launch a reinsurance start-up.

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Anbang Insurance leads race to buy Novo Banco

Anbang Insurance leads race to buy Novo Banco

Anbang’s US$4.45bn bid to acquire Portugal’s Novo Banco is likely to be selected by the Bank of Portugal.

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Hyundai assessing damage caused by Chinese explosion

Hyundai assessing damage caused by Chinese explosion

South Korea’s top carmaker said 4,000 of its vehicles were damaged in the explosion that rocked Tianjin.

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Insurance complaints on the rise in China

Insurance complaints on the rise in China

In the first six months of this year, complaints about insurance contracts in China grew by 4.03%.

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Nina Klingspor, Allianz Global Corporate & Specialty

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