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  • November 29, 2014
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    PICC to bolster capital with new rights offer

    Posted Nov 05th 2014, 12:22pm by BIEN PEREZ

    ... Bien Perez and Kwong Man-ki in Beijing bien.perez@scmp.com PICC Property and Casualty (PICC P&C), the mainland’s largest non-life insurer, is looking to strengthen its capital base ... to be issued is 379,777,642, while domestic rights shares total 844,594,760. This marks the latest rights offering made by PICC P&C since May last year, when it raised 5.8 billion yuan to bolster ...

  2. Business - Companies - FUNDRAISING

    Ping An lines up advisers for US$5b placement

    Posted Nov 08th 2014, 05:43am by Bloomberg

    ... showed. Ping An joins smaller players PICC Property & Casualty and China Taiping Insurance Holdings in tapping the stock market for further growth amid improved prospects for the sector. ... Wenchao wrote in a report. The companies' third-quarter results were "brilliant", they wrote. PICC, the mainland's biggest non-life insurer, said earlier this week ...

  3. Business - Commodities - DISPOSALS

    Sinopec sells 30pc stake in fuel unit for 107b yuan

    Posted Sep 15th 2014, 04:40am by Eric Ng

    ... and Shenzhen PICC Tencent Munsun Energy Investment Fund, backed by PICC Asset Management and internet giant Tencent Holdings. Other investors include Haier Electronics Group, conglomerate Fosun ...

  4. Business - China Business - REGULATION

    Chinese insurers fined 111m yuan over price fixing in car policies

    Posted Sep 03rd 2014, 10:19am by Kwong Man-ki

    ... 15.99 million yuan and China United Property Insurance got a fine of 10.29 million yuan. PICC Property & Casualty, the first company to report to the NDRC and submitted a report on the key ...

  5. Business - China Business - INSURANCE

    Chinese insurers could see better prospects after first-half squeeze

    Posted Aug 18th 2014, 01:56pm by Kwong Man-ki

    ... Phillip Securities analyst Chen Xingyu said. China Life Insurance and PICC Property & Casualty, the largest players in the life and non-life insurance segments respectively, faced the biggest ... earnings growth for PICC, and for its combined ratio to be one to 1.5 percentage points better than the industry average of 97 to 98 per cent. A combined ratio of less than 100 per cent indicates ...

  6. Business - China Business

    Chinese insurer PICC P&C's first-half profit rises 16.8pc on underwriting

    Posted Aug 27th 2013, 12:00am by Kwong Man-ki

    ... Kwong Man-ki in Beijing phoenix.kwong@scmp.com Profit of insurer PICC P&C rises 16.8pc Stronger-than-expected underwriting profits and investment income lifted the first-half earnings of PICC Property and Casualty (PICC P&C) 16.8 per cent year on year but the outlook for the mainland's non-life insurance sector remains challenging. PICC P&C, the mainland's ...

  7. Business - China Business

    Claims drag down profit growth at PICC P&C

    Posted Mar 29th 2014, 01:13am by Kwong Man-ki

    ... Kwong Man-ki in Beijing phoenix.kwong@scmp.com Gains in investment income at mainland's biggest non-life insurer fail to offset costs Claims drag down profit growth at PICC P&C PICC Property & Casualty (PICC P&C), the mainland's biggest non-life insurer, saw its profit growth slow to 1.5 per cent last year as increased claim costs offset an improvement ...

  8. Business - China Business - REGULATION

    Regulator eases red tape for marine insurance in Shanghai free-trade zone

    Posted Jun 05th 2014, 02:35pm by Kwong Man-ki

    ... to cut red tape is obvious, while the free-trade zone is an appropriate testing ground. More relaxations are expected in other insurance types," Wang said. Zu Zhoujun, a manager at PICC ...

  9. Business - Money - LISTINGS

    WH Group's excess of IPO banks confuses investors

    Posted Apr 22nd 2014, 12:46am by Reuters

    ... on why it had hired 29 bookrunners. Asian deals in general also tend to have more underwriters. Chinese insurer PICC Group raised US$3.1 billion in 2012 with the help of 17 banks. Last year, ... when banks try to outdo one another. The WH bookrunners stand to get nearly US$80 million in fees in total- but split many ways. Both PICC Group and China Galaxy priced their IPOs near ...

  10. Business - Comment - LAI SEE

    Reality punctures Dragonair's version of flight delay

    Posted May 06th 2014, 12:02am by Howard Winn

    ... the one set by Galaxy Securities with 21 bankers in May last year. This exceeded the 17 bankers on the PICC offering in December 2012. But it is clear that with that many bankers on an IPO none ...




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