Country: China Page 6 / 86
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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.
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- July 26 2024
Nova Insurance set to fully acquire China arm by year-end
While it will be business as usual for the Hong Kong broker's China unit, it has also received regulatory approval to open a branch in the city of Suzhou, its third in the country.
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- July 26 2024
Typhoon Gaemi to make landfall in mainland China after hitting Taiwan and the Philippines
The storm, which landed near the city of Hualien that faced losses from an earthquake earlier this year, is believed to be the most powerful storm to hit Taiwan in eight years.
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- July 24 2024
Haier-backed insurance broker Zhongmiao gets greenlight for Hong Kong listing
The Shandong-based company will be the first insurance intermediary to trade in Hong Kong if it completes an IPO.
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- July 19 2024
China Huanong P&C downgraded for poor capital raising ability
The global rating agency has downgraded the carrier's rating to 'BBB-' from 'BBB' with a negative outlook due to investment losses.
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- July 16 2024
Munich Re’s Serene Chan takes charge as head of P&C reinsurance for Greater China
Chan, who was previously regional head of cyber for Asia Pacific with the reinsurer, was appointed in the new role following a wider regional leadership reshuffle earlier this year.
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- July 16 2024
PICC P&C posts 3.7% premium income growth in H1 2024
The premium income for the first half stood at US$42.9bn with motor vehicle insurance accounting for about 45% of the premiums.
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- July 15 2024
Ping An Insurance eyes US$3.5bn fundraise: report
The insurer will raise the funds through a convertible bond offering, according to a Bloomberg report.
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- July 15 2024
China’s nat cat economic losses hit US$13bn in H1 2024 as flood claims rise
95,000 claims from the intense rain across eight southern China provinces have reached CNY3.21bn, according to NFRA's latest data.
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- July 12 2024
China Taiping former deputy manager pleads guilty to accepting US$11m in bribes
The former insurance industry top boss, who had served China Taiping Insurance Group and China Life Insurance, now awaits a verdict from the Intermediate People's Court of Xinxiang in Henan province.
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- July 11 2024
Chinese carrier Zhonglu’s underwriting risk selection tested by business expansion: Fitch
The rating agency has affirmed its 'BBB' rating with a stable outlook, adding that its growth expectation through 2026 may expose it to larger cat losses.
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- July 10 2024
Zurich turbocharges Hong Kong EV insurance business by courting used car owners
As a key growth area for the city, Zurich has dialled up its effort to attract EV policyholders to switch from competitors and is exploring more product opportunities for the Greater Bay Area, says Clement Hau, chief underwriting officer for general insurance, Hong Kong.
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- July 8 2024
Insurance claims from southern China heavy rain and floods hit US$344m: report
Insurers have settled about a third of the total claims filed. The heavy rain and floodwaters in Hunan breached a stretch of the dyke of China's second-largest freshwater lake.
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- July 6 2024
Mapfre Re seeks China expansion via new subsidiary in Beijing
The recent approval from the financial regulator will allow the Spanish reinsurer expand its business in the country where it has until recently maintained a presence through a representative office.
