Country: China Page 16 / 84
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- February 15 2023
Ping An floats first-ever ocean carbon sink insurance
Product provides US$58,000 worth of cover against specific changes in the marine environment that damage local species.
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- February 14 2023
Asia flood losses to worsen amid data deficit
(Re)insurers are feeling the heat from record rainfall events and fast-evolving climate risk scenarios.
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- February 10 2023
East Asian insurance markets may have ‘bottomed out’
Carriers in Japan, China and Korea are on a recovery path, however, nat cats, new solvency regimes, and inflation are key challenges.
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- February 9 2023
Hannover Re cuts APAC premium volume by 21.6% in 1.1 renewals
The German reinsurer cut back on proportional treaty in Malaysia and China, but XOL premiums filled some of the void.
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- February 7 2023
India’s appeal grows amid China pessimism
Global reinsurers and Lloyd's syndicates hone in on the market as the IRDAI seeks to cut red tape.
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- February 7 2023
BYD acquires online insurer for US$530m: report
The deal was done on January 31 with the EV maker agreeing to acquire 100% equity of the carrier, which had entered bankruptcy last year.
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- February 3 2023
Chinese insurtech Cheche Group initiates SPAC merger for US listing
The transaction values the combined company at an enterprise value of US$841m.
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- February 2 2023
EV giant BYD in talks to acquire Yian P&C Insurance
The Shenzhen-headquartered insurer was seized by Chinese authorities in 2020.
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- January 26 2023
Berkley Re Asia appoints senior China casualty underwriter
Ling Li has most recently been a liability senior underwriter at PICC P&C.
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- January 20 2023
Hong Kong P&C, specialty prospects brighten as China reopens
Revival in GBA investments and travel to drive cyber, D&O, M&A, PI and energy lines.
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- January 19 2023
Competition cushions China renewals
Despite tough market conditions, cedents managed to extract some concessions.
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- January 18 2023
CBIRC’s new motor pricing regime may strain small insurers’ profitability: Moody’s
The regulator hiked the floating range of the independent pricing coefficient of commercial motor insurance to 0.5 - 1.5.
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- January 17 2023
Sinosure insured US$900bn worth of trade in 2022
The trade-credit insurer saw its SME business grow 15.7% year-on-year covering US$227m in business.
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- January 13 2023
PICC P&C 2022 premium income rose 8.3% to US$70bn
The carrier saw a 22% rise in agri insurance premiums, while motor growth came in at a low 6.2%.
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- January 6 2023
Kim Duixun takes over as Hyundai P&C’s interim GM in China
Jiang Xinwei, the former GM, resigned due to personal reasons.
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- December 30 2022
PICC P&C issues US$32.5m Hong Kong-domiciled cat bond
The third ILS to be issued in the city offers coverage for China earthquake risks.
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- December 28 2022
Chinese broker Fanhua withdraws going-private proposal
The company's broker's founder Yinan Hu had offered to privatise the company in 2021 for US$9.8 per American depository share.
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- December 21 2022
Electric carmaker Nio ramps up brokerage arm with Huiding acquisition
The firm joins peers Byd and Li Auto in expanding their broking arms with China's EV premiums expected to double to US$10bn in 2022.
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- December 19 2022
Qianhai Re on track to sustained profitability, capital efficiency: AM Best
The rating agency affirmed the reinsurer’s financial strength rating of A- (excellent) with a stable outlook.
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- December 15 2022
China’s Dinghe Insurance to maintain strong capital and underwriting performance: Moody’s
Despite CSG's stake in Dinghe Insurance reducing to 65%, the agency expects the shareholder to continue supporting Shenzhen-based property insurer.
