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  • August 21, 2014
  • Last updated: 11:23pm
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  1. Curbs needed on insurers taking too much risk

    Posted Mar 10th 2009, 12:00am by Enoch Yiu

    ... Enoch Yiu The deepening financial crisis has raised doubts about whether regulators should continue to allow commercial banks and insurance firms to get into risky investment businesses. The United States government was forced last week to increase its rescue of troubled American International Group. AIG's insurance operations have sold millions of policies in the US and its ...

  2. Shares of mainland life insurers dive on plan to lift rate limits

    Posted Jul 13th 2010, 12:00am by Sophie Yu

    ... Sophie Yu Shares of Chinese life insurers tumbled yesterday after the regulator proposed lifting a cap on interest rates for some life insurance contracts, scrapping a decade-old ceiling that helped contain price competition. China Life, the nation's biggest insurer, fell 4.5 per cent in Shanghai to close at 23.55 yuan (HK$26.94), while in Hong Kong it lost 3.69 per cent to end ...

  3. Insurer offers epidemic cover

    Posted Jun 01st 2004, 12:00am by Enoch Yiu

    ... Kelvin Wong and Enoch Yiu The memory of empty hotel rooms during the Sars outbreak last year has given rise to a new insurance policy offering cover against the potentially huge financial losses should another epidemic strike. Launched by insurance broker Jardine Lloyd Thompson (JLT) Hong Kong and backed by American International Group (AIG), the business interruption insurance ...

  4. Insurers, firms argue over when Sars started

    Posted Apr 01st 2010, 12:00am by Staff Reporter

    ... Yvonne Tsui Ten of Hong Kong's major hotels and developers under the New World Development flag face a multi-million-dollar challenge from six insurers over the date of the start of the Sars outbreak. The 10 companies claim their insurance cover for losses during the outbreak should date from February 2003, when the first cases emerged. But the insurers say it should not start ...

  5. Troubled car insurer handed to liquidators

    Posted May 09th 2009, 12:00am by Staff Reporter

    ... Daniel Sin The Insurance Authority has filed for the provisional liquidation of motor vehicle insurer Anglo Starlite and disclosed it had a HK$189 million hole in its books. The action would minimise disruption to its policyholders, Commissioner of Insurance Clement Cheung Wan-ching said. The company, which was founded in 1975 and has its headquarters in Causeway Bay, insures ...

  6. AIG says non-life insurance business not for sale

    Posted Dec 01st 2008, 12:00am by Staff Reporter

    ... Natalie Chiu American International Group, the giant insurer bailed out by the United States government, says its worldwide non-life insurance business- including operations in Hong Kong ... The company has said it will sell most units not related to the insurance business. However, premium growth for the surviving Asian non-life insurance operations would come under increasing pressure ...

  7. HK insurers fall short of pact's asset threshold

    Posted Jul 01st 2003, 12:00am by Christine Chan

    ... Rules under Cepa which allow Hong Kong insurers to merge to meet the US$5 billion asset threshold to enter the mainland market are expected to have a limited impact. Asia Insurance executive director Bernard Charnwut Chan said yesterday the combined assets of all 30 or so local insurers fell short of the US$5 billion mark. Foreign firms make up the bulk of the more than 160 ...

  8. Foreign insurers poised for China plays

    Posted Oct 27th 2003, 12:00am by Christine Chan

    ... Christine Chan The reshaping of the industry will trigger strong demand for capital and expertise China's newly reformed insurance companies are positioning themselves for a slice of a burgeoning industry in anticipation of deregulation and profound social change forcing individuals to manage their financial futures. China Insurance Regulatory Commission (CIRC) chief Wu Dingfu ...

  9. Mainland insurance giant eyes US$790m listing

    Posted Jul 22nd 2003, 12:00am by Mark O'Neill

    ... The People's Insurance Company of China (PICC) will seek to raise up to US$790 million from a listing in Hong Kong over the next four months after completing a restructuring ... on its listing plans and whether it planned to sell a portion of the shares to strategic investors. If successful, it will be the first mainland insurance company to list outside the country. ...

  10. Insurance plan could strengthen public funds

    Posted May 20th 2005, 12:00am by Mary Ann, Mary Ann Benitez

    ... Mary Ann Benitez The Hospital Authority is considering setting up a private insurance scheme that would cater to patients who can afford to pay the full cost of public hospital services. ... but on the condition that they have to contribute in terms of a premium to buy some regulated insurance product,' he told the health-care funding reform forum. People have the choice of private service ...




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