Country: China Page 4 / 85
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- August 31 2024
China Re H1 2024 insurance revenue of domestic P&C reinsurance up 17.5% to US$3.3bn
Overseas P&C reinsurance and Chaucer and P&C insurance divisions grew 10.2% and 2.6% year-on-year, respectively.
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- August 30 2024
Aon’s White Rock sues China Construction Bank over Vesttoo fraud, claims US$140m
The lawsuit is another step to maximise recoveries for clients impacted by the Vesttoo fraud and make the bank accountable for the harm it has caused, Aon spokesperson told IAN.
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- August 30 2024
China Pacific’s P&C underwriting profit jumps 47.6% to US$380m, COR improves to 97.1%
The company delivered primary insurance premiums at US$15.7bn in the first six months, a 7.8% growth year-on-year.
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- August 28 2024
PICC P&C H1 underwriting profit down 5% as liability insurance losses bite
Underwriting profit for China's largest P&C insurer totalled US$1.26bn, as COR edged up 0.4 percentage points to 96.2%
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- August 27 2024
China Taiping’s H1 domestic P&C profit doubles as reinsurance business reverses losses
Its domestic China P&C’s operating profit surged to US$47.6m, as China's third-largest non-life reinsurer posted a US$63.9m operating profit for its reinsurance business.
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- August 27 2024
ZhongAn P&C H1 2024 underwriting profit drops 41% to US$44m as COR deteriorates to 97.9%
Insurance revenue for the P&C business for the first six months ended June 2024 increased 18.1% year-on-year to US$2.1bn.
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- August 23 2024
Ping An P&C H1 underwriting profit rises 15.7% on improved liability business
China's second-largest P&C insurer saw underwriting profit rise to US$49.5 million, as strong growth in its liability mitigated declines in its motor business, whose combined ratio was dampened by rainstorms.
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- August 21 2024
NFRA seeks to improve nat cat response through new insurance assessment system
The assessment system is intended to improve the country’s response mechanism based on different grading of natural catastrophes, according to the P&C insurance supervision chief.
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- August 16 2024
Nat cat risk pool, parametrics can improve China’s climate resilience: Ping An Insurance
In a jointly-issued report, China's second P&C insurer has put forward a range of recommendations on how authorities can work with the sector to mitigate disaster risks.
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- August 7 2024
Hyundai Insurance China outlook downgraded over operating losses, underwriting risk: AM Best
The rating agency has affirmed the insurer’s B++ (good) rating, noting that its risk-adjusted capitalisation has benefitted from the capital injection from strategic investors.
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- August 7 2024
NFRA releases rules to propel Shanghai’s role as international reinsurance hub
China's top financial watchdog announced the setting up of a US$4m fund to support reinsurance in targeted sectors, including aerospace, green shipping and semiconductors, and policy directions to attract more reinsurers to the free trade zone.
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- August 5 2024
Tesla renews bid for China insurance broking licence: report
The electric car maker has registered a new broking company after the firm it had initially set up in Shanghai in 2020 to apply for an intermediary licence was "cancelled" in April this year.
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- August 5 2024
Typhoon Gaemi losses to weigh on Taiwan, Philippines reinsurance market
While China losses are the most significant out of all three markets, the local reinsurance market is unlikely to be affected as agricultural sector is covered by the government.
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- August 5 2024
China P&I eyes South-East Asia expansion, global tie-ups for reinsurance, claims support: AM Best
AM Best has affirmed the financial strength rating of A- (excellent) for China Shipowners Mutual Club with stable outlook.
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- August 2 2024
China United Property Insurance removed from negative rating watch, downgraded: Fitch
The rating action is due to potential reduction in support from parent China Orient Asset Management and the insurer's weakening capital strength, the rating agency said.
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- July 29 2024
Typhoon Gaemi triggers flooding and landslide in mainland China, leads to US$50m agri losses in Taiwan
Hundreds of thousands of people have been evacuated in multiple provinces of China with hundreds of chemical and mining companies suspending operations and train services stopped.
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- July 26 2024
Sompo China to sustain profitable underwriting: S&P Global
The rating agency has affirmed the carrier's 'A' long-term local currency financial strength rating and issuer credit rating with a stable outlook.
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- July 26 2024
China Re’s COR to improve in next two years on portfolio overhaul: S&P Global
The state-owned reinsurer's combined ratio will likely lower to 99% from the five-year average of 102.1%. The rating agency has also affirmed its "A" rating and "stable" outlook.
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- July 26 2024
MSIG China’s subdued liability book weighs on underwriting performance: S&P Global
The rating agency affirmed its 'A' rating with a stable outlook, reflecting the outlook on the core operating entities of MS&AD.
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- July 26 2024
Opinion: China’s onshore oil & gas expansion throws spotlight on risks for insurers
With China's new exploration projects, questions remain over which (re)insurers will benefit at a time when the backlash against failure to exit from fossil fuels underwriting grows louder.
