Business / Insurance market

China Life rises on new business value growth

[2012-08-30 11:22]

China Life Insurance Co, the nation's biggest insurer, rose by the most in more than a month in Hong Kong trading after reporting an expansion in new business value.

China Life H1 profits down 25.7%

[2012-08-29 09:39]

China Life Insurance Co Ltd's net profits for the first half of this year totalled 9.64 billion yuan ($1.53 billion), down 25.7 percent year-on-year.

Taikang Life eyes retirement community site

[2012-08-28 17:10]

Taikang Life Insurance Company is making a multimillion yuan bid for a piece of land in Guangzhou, in preparation for the first retirement community in southern China.

Ping'an Insurance H1 profits rise 9.4%

[2012-08-24 17:34]

Ping'an Insurance Co said Friday its first-half net profits rose 9.4 percent year-on-year to 13.96 billion yuan ($2.21 billion).

PICC rises most in nine months on profit surge

[2012-08-22 11:01]

PICC rose the most in almost nine months in Hong Kong after reporting a 24 percent jump in profits on higher underwriting revenue and investment income.

CPIC plans to offer long-term endowment, medical insurance

[2012-08-21 06:38]

Mainland-based insurer China Pacific Insurance (Group) Co Ltd (CPIC) will foster a product mix geared to long-term endowment and a medical insurance to tap the long-term regular premium business potential and combat a profit squeeze amid slower economic growth, falling investment returns and soaring operating costs.

Three of four major insurers report income growth

[2012-08-20 16:55]

China's four major life insurers generated 511.16 billion yuan ($81 billion) worth of insurance income in the first seven months of 2012.

Deposit insurance system to be created in China

[2012-08-15 19:02]

China’s central bank said it will create a deposit insurance system to promote the reform of the financial system.

Traffic accidents crippled Chinese insurers

[2012-08-11 10:43]

Chinese insurers were in the red last year due to road accident-related insurance, as they had to compensate a large number of victims of traffic accidents.

China Life warns on H1 profits

[2012-08-07 17:49]

China Life Insurance Company, the world's largest insurance provider by market value, has issued a profit warning for the first half of 2012 blaming volatile equity markets, and a drop in its asset values.

Social security network basically established

[2012-08-02 17:07]

China had "basically" established a social security network on the foundation of social insurance, social assistance and social welfare by the end of 2011.

Beijing insurance companies pay $142m after floods

[2012-08-01 21:52]

Insurance companies in Beijing had to pay out about 900 million yuan ($142.37 million) in compensation due to the damages caused by the floods that hit the region on July 21.

China Taiping Insurance pulls out of NZ market

[2012-08-01 17:30]

China Taiping Insurance (NZ), the New Zealand arm of the Hong Kong-listed insurer, announced Wednesday it was leaving the New Zealand market immediately.

Govt weighs social insurance reforms

[2012-07-27 07:18]

To help Chinese businesses that have fallen on hard times, the government may let them delay payments they are required to make into the country's social insurance funds or pay reduced amounts.

Securities and fund firms OK to invest insurance money

[2012-07-24 21:07]

The China Insurance Regulatory Commission has introduced interim measures allowing securities and fund companies to manage investments of insurance money, according to a report published on the commission's official website on Monday.

Guangzhou to rise personal payment for medical insurance

[2012-07-24 20:10]

The government of Guangzhou, Guangdong province, is planning to increase the personal payment for medical insurance of urban residents by 50 percent to 108 percent to meet a shortfall in the fund.

Storm leads to record for insurance claims

[2012-07-24 11:06]

Zhang Guocheng, a 30-year old white-collar worker living in Beijing's Fangshan district, kept himself busy dealing with his waterlogged Chevrolet Aveo on Sunday, a day after a giant rainstorm had pounded the capital city.

Trust firms may overtake insurance sector

[2012-07-20 20:38]

Chinese trust companies may overtake the insurance industry by the end of 2012 and become the second largest sector in China's financial services market, but some trust companies should pay attention to credit risk, said a recent KPMG report.

Project to insure rural kids

[2012-07-19 08:06]

A new charity project promises to ensure more children in poor rural areas can have commercial health insurance free of charge.

China widens pension coverage as population ages

[2012-07-01 20:48]

China launched a campaign aiming to provide pension insurance to all rural residents and unemployed citizens.