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  • September 23, 2014
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  1. HSBC to set up life insurance venture with National Trust

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

    ... Enoch Yiu HSBC Holdings has obtained approval from the China Insurance Regulatory Commission to set up a 50-50 joint-venture life insurance company with Beijing-based National Trust. HSBC Life Insurance will have a registered capital of 500 million yuan (HK$567 million) when it is established in the third quarter of the year. National Trust is a privately held trust company ...

  2. China Merchants Bank to take 50pc stake in Cigna & CMC Life

    Posted May 06th 2008, 12:00am by Staff Reporter

    ... Natalie Chiu China Merchants Bank is paying 141.9 million yuan (HK$158.3 million) for a 50 per cent stake in Cigna & CMC Life Insurance, a joint venture between Philadelphia-based ... the trail for bancassurance business on the mainland, it said yesterday. Cigna & CMC Life Insurance is a joint venture between the United States' Cigna and Shenzhen Dingzun Investment & ...

  3. Regulator steps in to protect AIA policyholders' interests

    Posted Sep 18th 2008, 12:00am by Enoch Yiu

    ... Enoch Yiu Commissioner prohibits life insurer from shifting assets Hong Kong's insurance regulator yesterday moved to protect the interests of the holders of 1.95 million policies ... life insurer, shifting assets to its troubled American parent without the approval of his office. For a second day, holders of AIA policies thronged its offices in Hong Kong to cash ...

  4. China Life misused funds to build tower

    Posted Dec 31st 2004, 12:00am by Staff Reporter

    ... Bei Hu Auditor uncovers 5.4 billion yuan in irregularities at China's largest insurer China's largest life insurer misused 750 million yuan to build a Beijing office tower before its initial public offering last year, mainland legislators were told this week. The abuse was among a series of irregularities the National Audit Office found at China Life Insurance Co ...

  5. BOCHK injects cash into insurer

    Posted Jul 04th 2009, 12:00am by Staff Reporter

    ... Maria Chan BOC Hong Kong (Holdings) is in the process of injecting HK$1.02 billion into BOC Group Life Assurance, its 51 per cent owned subsidiary, to boost the insurer's capital ... buy a further 76.5 million shares at the same price, or HK$765 million, this month. The group's stake in the life insurer will remain unchanged at 51 per cent after the transactions. ...

  6. China Life to increase holding in fund unit

    Posted May 09th 2008, 12:00am by Staff Reporter

    ... Natalie Chiu China Life Insurance, the mainland's largest life insurer, will inject 1.85 billion yuan (HK$2.07 billion) into its pension fund unit to expand its fledging enterprise annuities business. This will be the second capital injection by the state-owned insurer after 1.85 billion yuan in November. Following the injection, China Life's stake in China Life Pension ...

  7. Dah Sing Financial wants to boost insurance earnings

    Posted Aug 10th 2004, 12:00am by Staff Reporter

    ... Kelvin Wong Dah Sing Financial Holdings (DSFH) will rely on its insurance business to contribute 50 per cent of group profits and may try to build up the subsidiary through acquisitions, the company said at its results briefing yesterday. Roddy Anderson, a vice-chairman of Dah Sing Life Assurance, a wholly owned subsidiary of DSFH, yesterday said he expected the insurance arm ...

  8. Foreign insurers' share of new premium income slides in April

    Posted Jun 22nd 2009, 12:00am by Staff Reporter

    ... Natalie Chiu The share of monthly new premium income earned by foreign insurers operating in the mainland's life insurance market slumped to 4.64 per cent in April from 5.13 per cent a year earlier, latest data from the China Insurance Regulatory Commission shows. Domestic life insurers, meanwhile, saw their new monthly premium income grow 9 per cent in the same month, ...

  9. Nippon Life opts for a long-term view in Shanghai

    Posted Dec 04th 2003, 12:00am by Mark O'Neill

    ... Mark O'Neill in Shanghai Nippon Life Insurance, one of the world's biggest insurance companies, launched a joint venture in the crowded Shanghai market yesterday, despite difficulties in finding a suitable mainland partner. Nissay-SVA Life Insurance is a 50-50 joint venture between Nippon Life and SVA Group, a maker of electrical appliances and telecommunications ...

  10. US investors strike deal for 24.9pc of Pacific Life

    Posted Dec 17th 2004, 12:00am by Staff Reporter

    ... Bei Hu Two US companies are awaiting regulatory approval for the purchase of a 24.9 per cent stake in the mainland's third-largest life insurer following protracted talks. Carlyle ... Insurance and its Shanghai-based parent China Pacific Insurance (Group) Company (CPIC). Carlyle, Prudential and Dutch group ING held protracted negotiations with Pacific Life, which has a 10.7 per ...




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