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  1. Challenges amid growth for life insurance firms

    Posted Mar 11th 2010, 12:00am by Enoch Yiu

    ... Enoch Yiu The mainland's life insurance companies are expected to maintain good growth this year but face competitive pressure and difficulties in achieving profit from their stock investments, according to a report by Fitch Ratings. Fitch said mainland life insurers will increase new business this year as a result of expanding their sales channels. In addition to sales through ...

  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. Insurance sector back to basics after global crisis

    Posted May 10th 2010, 12:00am by Enoch Yiu

    ... Insurance, which is initially allowed to sell life insurance in Shanghai. Playing safe Last year 151,551 investment-linked insurance policies were sold Compared with 2008 this represented a drop of: ... Enoch Yiu The financial crisis triggered by the collapse of the sub-prime mortgage market in the United States has encouraged Hong Kong insurance policyholders to return to basics, ...

  4. Munich Re seeks to expand mainland insurance business

    Posted Jun 23rd 2010, 12:00am by Staff Reporter

    ... Daniel Ren in Shanghai Munich Re, the world's largest reinsurer, is looking for mainland partners to form life and property insurance joint ventures to tap the world's most ... life insurer on the mainland, to be followed by a property venture later. Beijing allows foreign insurers to sell life and non-life insurance policies only through joint ventures. A foreign ...

  5. Zurich Financial in talks for Shanghai licence

    Posted Mar 17th 2010, 12:00am by Staff Reporter

    ... to grow our business through organic growth.' Foreign insurers are now allowed to open their own non-life insurance units on the mainland, but they can operate a life insurance business only ... Financial currently owns 20 per cent of New China Life Insurance, the country's fourth-largest life insurer, which has an 8 per cent market share nationwide. Chen said the major shareholders ...

  6. Manila slaps insurance hurdle on helpers

    Posted Nov 10th 2010, 12:00am by Amy Nip, Raissa Robles

    ... admission. The three authorised Philippine providers for the insurance are Paramount Life & General Insurance, Philippine Charter Insurance and United Coconut Planters' Life Assurance. ... Amy Nip and Raissa Robles in Manila Confusion reigned yesterday over an insurance requirement imposed by the Philippine government when new domestic workers are hired. Local employment ...

  7. Insurance group out to treble sales force

    Posted Jan 16th 2010, 12:00am by John Cremer

    ... profit- the group is looking to build on the strong display of its life insurance division with further hiring and an aggressive push in fast-expanding markets. 'We will look at any ... executive of Zurich Global Life Insurance. He says the company is strong in management, back office and information technology. The expansion strategy will focus on improving product distribution ...

  8. Close connections continue to thrive

    Posted Jul 01st 2010, 12:00am by Edward Peters

    ... major banks conduct operations in Hong Kong, Canadian insurers Sun Life and Manulife hold more than 33 per cent of Hong Kong's life insurance policies, and Ontario-based Research in Motion- ...

  9. Ace Group to buy New York Life operations

    Posted Oct 28th 2010, 12:00am by Enoch Yiu

    ... Enoch Yiu US-based insurer ACE Group announced it will spend US$425 million (HK$3.29 billion) in cash to buy the Hong Kong and South Korean operations of New York Life. ACE chairman and chief executive Evan Greenberg said yesterday the transaction would benefit shareholders and help ACE to expand in Asia. 'These two life insurance companies are small, solid agency ...

  10. Insurers rush to launch yuan-denominated policies

    Posted Apr 30th 2010, 12:00am by Enoch Yiu

    ... a yuan insurance product with a 10-year saving insurance plan denominated in yuan. Citibank and its partner MetLife have already introduced a five-year yuan insurance policy while China Life Hong ... in Hong Kong. This has limited the investment choice for the insurance companies,' Chan added. BOC Life has introduced eight-year yuan policies since December. Chief executive Choy Chung Foo ...




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