Thursday, November 23, 2017

China

China’s former insurance regulator faces charges

China’s former insurance regulator faces charges

Xiang Junbo is set to be charged after the corruption case against him has been handed over to prosecutors.

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Debt-to-equity swaps open to Chinese insurers

Debt-to-equity swaps open to Chinese insurers

Insurance funds may soon be granted permission to join in debt-to-equity swaps of distressed firms.

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China to heighten insurance scrutiny

China to heighten insurance scrutiny

Investments and capital flows in and out of the industry will be overseen more closely, the country’s regulator announced.

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Chinese life firms urged to diversify products

Chinese life firms urged to diversify products

A senior official at CIRC wants insurers to innovate and offer more than just short-term life products.

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Ant Financial’s agri insurance JV gets green light

Ant Financial’s agri insurance JV gets green light

China’s insurance regulator has given the go-signal for a joint venture with China United Insurance to begin operations.

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Allianz rebuffs Chinese takeover

Allianz rebuffs Chinese takeover

It emerged this week that Anbang and HNA both attempted a takeover of the German insurer earlier this year.

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Listed Chinese insurers to benefit from risk crackdown

Listed Chinese insurers to benefit from risk crackdown

Efforts to contain the sale of risky short-term life insurance policies won’t seriously affect the country’s major insurers.

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Foreign insurers get access to wider market in China

Foreign insurers get access to wider market in China

CIRC says the government will open the local health, disaster and pension insurance markets.

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Huabang Financial to acquire Israel’s Clal Insurance

Huabang Financial to acquire Israel’s Clal Insurance

The controlling stake in the Israeli insurance and financial firm is valued at approximately US$1.36b.

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Anbang returns to more traditional business model

Anbang returns to more traditional business model

The company is preparing a new array of services and products to launch after its current ban expires.

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Chinese premium income growth slows

Chinese premium income growth slows

Total premium income grew at 21.3% through July, compared to more than 35% in the same period last year.

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Chinese ministries cooperate to discipline insurers

Chinese ministries cooperate to discipline insurers

Insurers found violating rules will be restricted from establishing banking, securities and insurance subsidiaries.

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PICC eyes South-East Asia acquisitions

PICC eyes South-East Asia acquisitions

China’s biggest non-life insurer may see a couple of deals happening before the end of this year, according to a company executive.

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Investment income lifts China Life profits

Investment income lifts China Life profits

Net income rose by 17.8% in the first six months of the year, driven by an 11.45% investment return.

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China Life, Baidu to raise US$1bn for tech investments

China Life, Baidu to raise US$1bn for tech investments

The two companies will partner in a private equity fund targeting middle to later stage companies.

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Anbang Life’s credit rating lowered

Anbang Life’s credit rating lowered

A Chinese rating agency has downgraded the insurer three months after CIRC curtailed its operations.

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Jack Ma-backed firm eyes Asian unit of MassMutual

Jack Ma-backed firm eyes Asian unit of MassMutual

A consortium led by Yunfeng Financial Group has expressed interest to pay about US$1.7bn for the business.

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Ping An registers best half-year profit in a decade

Ping An registers best half-year profit in a decade

The results were driven by strong growth in life premiums and came despite a government crackdown on the industry.

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Zainudin Ishak, Malaysian Re

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