Business / Insurance market

PICC H1 profit tops 159.62b yuan

[2011-08-01 09:21]

The People's Insurance Company Group of China (PICC), China's second largest insurer, posted 159.62 billion yuan ($24.71 billion) in revenue in the first half of this year, company sources said Sunday.

'Rising premiums not seen in compensation'

[2011-07-29 13:22]

China's railway regulator has collected tens of billions of yuan in insurance premiums while insurance compensation has remained unchanged for decades, Chinese media reported on Thursday after a fatal high-speed train collision raised public concern over compensation.

China's rural pension program covers 199m people

[2011-07-26 09:24]

A total of 199 million Chinese rural residents had joined the country's rural pension insurance program by the end of June, an official of the Ministry of Human Resources and Social Security (MOHRSS) said Monday.

PICC plans $5b to $6b IPO in HK, Shanghai

[2011-07-19 09:50]

PICC, one of China's largest insurers, plans to raise $5 billion to $6 billion in an initial public offering (IPO) in Hong Kong and Shanghai, International Financing Review reported.

China insurance premium tops 800b yuan in H1

[2011-07-16 14:25]

Chinese insurance companies' premium income topped 805.66 billion yuan in the first half of the year, up 13 percent year on year, the China Insurance Regulatory Commission said. 

Insurers to add realty investments

[2011-06-01 08:18]

The rise comes after revisions to the insurance laws get green light

China's Jan-April insurance premiums hit 570.8b yuan

[2011-05-31 09:31]

The combined value of China's insurance premiums rose to 570.8 billion yuan ($87.8 billion) in the first four months of this year, up 109.08 yuan from the figure in the January-March period.

Foreign staff to be covered by social insurance

[2011-05-30 17:11]

China is drafting details of the Social Insurance Law that will allow it to apply to foreign employees, a senior official with the Ministry of Human Resources and Social Security said Monday.

Insurers eye long-term gain in housing plan

[2011-05-24 07:53]

Seven Chinese insurance companies will invest up to 80 billion yuan ($12.3 billion) to build affordable housing in Beijing, a secure investment that will help them gain government support in investments including nursing homes, said a person familiar with the situation.

PICC to bring in strategic investors

[2011-05-16 16:35]

People's Insurance Company (Group) of China (PICC) still has no timetable for its overall listing. Despite that fact, the company will soon settle with its strategic investors, China Business News reported Monday.

China Life Insurance has new president

[2011-05-07 15:24]

China's insurance regulator said Friday it had appointed Yuan Li as the president of the China Life Insurance (Group) Company, the country's largest insurer.

Life insurance to keep growing in China

[2011-04-14 17:39]

Many Chinese people live underinsured or without insurance. That means China's life insurance sector will continue to grow, Peter A Smyth, regional managing director of MetLife Asia Pacific, told

Goldman Sachs acquires 12% of Taikang

[2011-04-09 10:31]

China's insurance regulator has approved Goldman Sachs Group's purchase of a 12.02 percent stake, or 102 million shares, in Taikang Life Insurance Co Ltd, the insurance company said in a statement on Friday.

Foreign life insurers seek niche market share

[2011-04-08 13:06]

It's almost a consensus that China is a huge market for insurance companies, but the general manager of Taiping Life Insurance Co Ltd said it's just that wish to gain a big market share in China that prevents the development of many insurance companies.

Ping An says no capital raising plan in short term

[2011-03-31 15:17]

Ping An Insurance (Group) Co, China's second-biggest insurer by market capitalization, said on Wednesday it will not raise capital on the financial markets in the short-term following a rights issue a few weeks ago.

China's Ping An 2010 net profit up 23.9%

[2011-03-30 09:55]

Ping An Insurance Group, one of China's major insurers, said Wednesday its 2010 net profit rose by 23.9 percent year on year to 17.94 billion yuan ($2.73 billion).

China Life sees potential in sales through banking channels

[2011-03-24 10:31]

China Life Insurance Co, the world's biggest life insurer by premiums issued, said it continues to regard bank insurance as a major trend.

China ramps up healthcare spending

[2011-03-10 17:03]

With the nation's medical insurance systems now covering 1.27 billion people out of the country's 1.34 billion inhabitants, key officials vowed on Wednesday to iron out wrinkles encountered by those seeking medical help.

Shanghai will pilot insurance exchange

[2011-03-07 09:06]

The central government will initiate a pilot insurance exchange in Shanghai, said Wu Dingfu, the head of the China Insurance Regulatory Commission (CIRC).

Shanghai plans insurance bourse

[2011-02-18 10:00]

Shanghai has applied for central government approval of its plans to build an insurance exchange, according to one of the people responsible.