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CIRC gets tough 

Business | Insurance

CHINA'S top insurance regulator has ordered 14 major domestic insurers to check and regulate behavior of their agents after they were found taking premiums illegally. Eight agents of the 14 insurers, including...

New China Life shares surge on debut 

Business | Insurance

NEW China Life Insurance Co yesterday surged on its first trading day in Shanghai despite a weak debut in Hong Kong on Thursday. China's third-largest life insurer soared 13.7 percent to close at 26.44 yuan (US$4.17)...

New China Life raises US$1.9b from share sale 

Business | Insurance

NEW China Life Insurance Co, the nation's third-largest life insurer, has raised US$1.9 billion from an initial public offering, after selling shares near the bottom of a marketed range, people with knowledge of the...

Insurer set to trade in Shanghai and HK 

Business | Insurance

NEW China Life Insurance, the country's third largest insurer, will start trading in Shanghai and Hong Kong next week, and the company will explore overseas investment opportunities after the listing, its top executives...

Foreign insurers not likely to grow fast 

Business | Insurance

TOUGH regulations and strong competition from domestic insurers will combine to slow the expansion of foreign insurance companies in the robust Chinese market over the next three years, according to an industry survey...

Regulations, competition to curb foreign insurers' growth despite China boom 

Business | Insurance

THE expansion of foreign insurers would be limited in the robust Chinese market over the next three years due to tough regulations and strong competition from domestic players, an industry survey revealed. Increasing...

Foreign insurers exit market 

Business | Insurance

THE recent withdrawals by some foreign insurers from China suggest that the country is losing its appeal despite the expanding domestic insurance market Moody's said in a report yesterday. "As a whole, foreign...

Global insurers' exit suggests China losing appeal – Moody's 

Business | Insurance

THE recent exit of some foreign insurers from China suggested that China's growth story was losing some of its appeal despite the country's rising economy, Moody's said today in a report. "As a whole, foreign...

Action against rouge insurance agents 

Business | Insurance

CHINA'S top insurance regulator is cracking down on rouge insurance agents amid rising complaints of fraud and cheating from policy holders. The China Insurance Regulatory Commission said that 80.66 million yuan...

Cornerstone investors eye insurer's IPO 

Business | Insurance

NEW China Life Insurance Co, the insurer backed by Zurich Financial Services AG, may sell US$780 million of its initial public offering to so-called cornerstone investors, including DE Shaw & Co and Khazanah Nasional...

Insurers to focus on pensions, shipping 

Business | Insurance

SHANGHAI is to enhance the role of insurers in improving public welfare and boosting the city's shipping industry, the local regulator said yesterday, citing the new five-year plan for the city's insurance sector. ...

Insurer's Shanghai listing wins approval 

Business | Insurance

NEW China Life Insurance, China's third-largest life insurer, yesterday gained regulatory approval for an initial public offering in Shanghai, a step forward in its plan for dual listing in Shanghai and Hong Kong. ...

Chartis eyes growing insurance needs 

Business | Insurance

CHARTIS, the property and casualty arm of American International Group, will keep expanding in China, one of the key growth markets, its chief executive officer said yesterday in Shanghai. The New York-based insurer...

Baidu quarterly profit up 80% 

Business | Insurance

BAIDU Inc, which operates China's most popular search engine, yesterday said its latest quarterly profit rose 80 percent as strong growth in usage of its site helped drive advertising revenue higher. Profit for...

Insurers fall on stricter debt issue rules 

Business | Insurance

CHINESE insurers fell in both Shanghai and Hong Kong trading yesterday after the regulator tightened rules governing the issue of subordinated debt to prevent financial risks in the sector. Insurers who plan to...

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