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  1. Life-cover licence a first for general insurer Huatai

    Posted Jun 09th 2004, 12:00am by Christine Chan

    ... Christine Chan Huatai Insurance, China's fourth-largest property and casualty insurer, will become the first mainland firm to operate both general and life insurance divisions. A Huatai executive confirmed yesterday that it had the go-ahead from the China Insurance Regulatory Commission (CIRC) to set up a life insurance joint venture. This will make it the first company ...

  2. China Life vows to contest lawsuit by US shareholders

    Posted Mar 19th 2004, 12:00am by Christine Chan

    ... Christine Chan Faced with its first taste of United States litigation, China Life Insurance said it would 'vigorously' contest a class-action shareholder lawsuit filed against ... fraud to the tune of US$652 million' at unlisted parent firm China Life Insurance Co. The parent also engaged in allegedly 'criminal acts' involving fraudulent premium payments, ...

  3. Higher interest rates have a downside for insurers

    Posted Jun 16th 2004, 12:00am by Staff Reporter

    ... be good news, the mainland's second-largest life insurer argued at a press briefing at the weekend, because returns on its investment portfolio would rise. But these returns are only one part of the equation for successful life insurers. The other- new premium income- has been growing at 30 per cent or more a year, and is a more compelling story for mainland insurers. It is the potential ...

  4. China's insurers get freer rein on non-life products

    Posted Apr 21st 2004, 12:00am by Christine Chan

    ... Christine Chan China is giving its insurers more liberty to structure and market certain non-life policies, its latest move towards deregulation of the industry. The China Insurance ... insurance and statutory liability products will also remain subject to vetting by the commission. 'The move is aimed at encouraging non-life insurers to be more innovative and come up ...

  5. China Life executives on charm offensive

    Posted Jun 19th 2004, 12:00am by Staff Reporter

    ... Bei Hu Senior executives of China Life Insurance, the country's largest life insurer, faced Hong Kong's media yesterday in their first public briefing since the company's ... although neither he nor his colleagues were willing to share specific corporate results with the press, saying the numbers had yet to be audited. Mr Wang did say that China Life had expanded its ...

  6. China Life insurer discussed probe

    Posted Apr 08th 2004, 12:00am by Staff Reporter

    ... China Life Insurance (Group) would have talked to the national auditor about a probe that uncovered 5.4 billion yuan in accounting irregularities before its public listing in December, according to a source at the state agency. The revelation raises disclosure questions. Full report- B1 ...

  7. China Life sees rising competition curb growth

    Posted Sep 01st 2004, 12:00am by Elaine Chan

    ... Elaine Chan A shift to more profitable investment products also triggers market slowdown China Life Insurance, the mainland's biggest life insurer, says its market share should hold ... they added. Nevertheless, chairman Wang Xianzhang stressed the rate at which the mainland's life insurance market was growing 'can't be matched by mature markets'. Mr Wang said ...

  8. Moody's queries China Life's distance from poor policies

    Posted Jun 30th 2004, 12:00am by Staff Reporter

    ... Bei Hu The parent may be tempted to use dividends as compensation for taking on load A report by Moody's Investors Service yesterday openly questioned China Life Insurance's repeated assertion that it had cast off massive negative spread policies written before June 1999. China Life Insurance (Group) Co (Clic), the parent company of the mainland's largest life ...

  9. New rules for insurers pave way for more liberalisation

    Posted Apr 26th 2004, 12:00am by Christine Chan

    ... designed to maximise returns on premium reserves. Asset managers are common in developed insurance markets. Two China insurers, PICC Property and Casualty and China Life Insurance, have already set ... billion yuan, while life insurers must have at least 10 billion yuan worth of combined assets. Once a life insurer sets up its asset manager, it must invest at least 80 per cent of its assets ...

  10. Commissioner warns of risks of 'investment-linked' insurance products

    Posted Oct 28th 2004, 12:00am by Paggie Leung

    ... PAGGIE LEUNG Updated at 5.00pm: Insurers should be aware of the risks of 'investment-linked' insurance products, Commissioner of Insurance Richard Yuen Ming-fai warned on Thursday. Mr Yuen said that due to low bank interest rates on savings accounts, many traditional life insurance companies were promoting 'investment-linked' insurance products. 'The ...




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