Country: China Page 8 / 78
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- July 14 2023
BYD Auto to raise insurance arm’s registered capital by US$420m
After the capital injection, BYD Property Insurance's registered capital will reach US$560m and the parent will maintain 100% shareholding.
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- July 7 2023
China’s carriers betting on state-led infrastructure boom
The government continues to invest in railways, airports, ports and energy generation amid a slowdown in the property market.
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- June 29 2023
Axa XL appoints Boney He as senior underwriter in Shanghai
She was previously an underwriting assistant at Brit Insurance, division of Lloyd’s China, for 10 years.
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- June 23 2023
PICC Hong Kong expanding reinsurance portfolio, mainland sales: AM Best
The rating agency has affirmed A- (excellent) rating for the Hong Kong carrier with a stable outlook.
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- June 22 2023
Analytics: Hong Kong and China P&C players’ underwriting margins squeezed
Carriers are under pressure as reinsurance costs rise, however, at 10% coverage for the top 15 Chinese insurers, there is plenty of room to grow.
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- June 20 2023
Hong Kong’s export credit insurer launches mainland pilot with five banks
HKECIC has teamed up with Bank of China, BEA, HSBC, Hang Seng and DBS, and the credit limit for each buyer's non-payment risks is capped at US$12.8m.
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- June 16 2023
Taikang-backed Tk.cn scripts underwriting turnaround with COR improving 29 points to 92%
Fitch has affirmed the Chinese digital non-life insurer's rating at A- with a stable outlook.
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- June 15 2023
Lloyd’s to reverse losses this year, affirms AA- rating, including for China: Fitch
Fitch expects Lloyd’s to maintain its improved global underwriting results in 2023-4 as pricing conditions remain 'favourable', although volatility will remain.
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- June 12 2023
China hailstorm losses reach US$28m: report
Extreme weather events continue in the country with cumulative rainfall in the southern city of Beihai city reaching a record-breaking level.
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- June 9 2023
China targets global cedents with Shanghai reinsurance hub
The international board, launched on June 8, rolls out incentives for international (re)insurers to tap the country's capital.
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- June 2 2023
China proposes new reinsurance board in Shanghai
An international reinsurance market will be set up in Shanghai free trade zone to promote the city as an international reinsurance hub.
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- May 31 2023
Gallagher Re recruits from Guy Carpenter for China, Hong Kong CEO
Jia Lou (pictured) joins in June from the rival broker in Hong Kong, while Alex Xia joins from Munich Re to lead Gallagher Re's Beijing branch.
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- May 30 2023
China’s SDIC to sell its 20% stake in Jintai Insurance: report
The state-owned investor, which is the second-largest shareholder of the Chengdu-based general insurer, has set a US$7.5m base price for the stake.
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- May 29 2023
Fitch Ratings downgrades Guoren P&C over risky assets, leverage
Guoren P&C’s insurer rating has been downgraded to BBB+ from A- with a stable outlook.
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- May 25 2023
Tencent-backed Hong Kong reinsurer FuSure to stay profitable with a single-digit return
The non-life reinsurer reported net profits in 2022, breaking even one year earlier than its original plan, says AM Best.
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- May 23 2023
Uplift in consumer sentiment helps APAC carriers combat reinsurance costs, inflation: Fitch
Primary insurers have been able to pass on higher premium rates to customers, even double-digit hikes in places like Australia, without affecting business retention.
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- May 22 2023
National Administration of Financial Regulation replaces CBIRC as new China regulator
The newly constituted body, which began operations on May 18, will regulate the financial services industry, including insurance and banking sectors.
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- May 11 2023
Ping An P&C settled US$27bn of claims in 2022
The group, across its four insurance companies, paid for more than 200 million cases at an average of about 600,000 cases per day in 2022.
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- May 11 2023
Berkley Insurance Asia promotes Owen Yin and Jack Zhao in China
Yin has been named Asia technical lead, casualty lines, and Zhao as Asia technical lead, life sciences.
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- May 11 2023
China names former banker as head of new regulator
Li Yunze, who has worked at CCB and ICBC, has been appointed leader of National Financial Regulatory Administration, which is replacing the CBIRC.
