Insurance Companies

Fosun takes a leaf out of Warren Buffett’s book

Liang Xinjun said that after the acquisition, Fosun will have sufficient cash flow for new investments using its own money. Photo: Thomas Yau

Starting from humble beginnings and building up a portfolio of businesses ranging from real estate and consumer products to insurance over the last 22 years, Fosun International is setting its sights on a new growth target: chasing Warren Buffett.

Saturday, 29 March, 2014, 2:10am

New insurance body will be flawed

Manila bus hijacking survivors could seek help with their travel insurance complaints at the Insurance Claims Complaints Bureau, which will no longer exist once the independent insurance authority is set up. Photo: Dickson Lee

The government has brought out a consultation paper on the Insurance Companies (Amendment) Bill. It details the proposed amendments to the current Insurance Companies Ordinance. This new authority will only handle outstanding complaint cases not yet resolved by self-regulatory organisations before its establishment. It will not handle any complaint cases not involving compliance matters (matters which involve compliance with the relevant ordinance and regulations) in the future.

28 Mar 2013 - 3:30am

Damages ruling may lead to rise in insurance premiums

Insurers are anxiously awaiting a court ruling on damages claimed by two patients from the Hospital Authority after they were left paralysed following alleged mistaken medical procedures when they received treatment at hospitals.

15 Jan 2013 - 4:16am

Foreign insurance firms expect strong growth in China

Charoen Pokphand, a diversified group, is a major food processor and to be a big shareholder of Ping An Insurance. Photo: Reuters

Foreign insurance companies operating on the mainland expect to post strong growth over the next three years, driven by China's rapid economic expansion and the low penetration rate of insurance products.

8 May 2015 - 9:46am

Insurers strike big deals in Hong Kong office market

Assicurazioni Generali has snapped up the whole of No 8 Queens Road East, with naming rights. Photo: May Tse

Insurance companies remain active players in the office investment and leasing markets, filling the gap left by a retreat by other major financial institutions.

7 May 2015 - 4:01pm

Watchdog may have power to suspend insurers before probe

The proposed insurance authority will have the power to temporarily suspend insurance companies or their staff even before the completion of disciplinary procedures.

This would well exceed the power of other regulators such as the Securities and Futures Commission, which can do the same with securities firms or their staff but only after disciplinary procedures are completed.

27 Oct 2012 - 2:52am

Sun Life looking to expand in Hong Kong

Sun Life Financial, which bought CMG Asia last year, will further expand in Hong Kong, according to Geoffrey Saggers, chief executive of the company's local unit.

Mr Saggers also predicted more mergers and acquisitions in the insurance industry due to the ambitions of other multinational companies, adding: 'If they want to have presence in Asia, it must be in Hong Kong.'

14 Mar 2006 - 12:00am

Culture concern as mainland comes into focus

New York Life International is in talks to acquire several Hong Kong life-insurance companies, according to chairman and chief executive Gary Benanav.

The US insurance giant's move comes as it is gearing up to expand in the mainland market following the country's expected entry into the World Trade Organisation this year.

3 Apr 2000 - 12:00am

New York Life sets sights on Net sales

New York Life International is considering using the Internet to sell simple life insurance products in Hong Kong, according to chairman Gary Benanav.

'The expansion of sales channels would help boost our business volume,' he said.

30 Mar 2000 - 12:00am

Sun Life expects mainland licence

Sun Life of Canada is expecting to obtain a licence to sell insurance on the mainland as early as next year, according to president and chief operating officer Donald Stewart.

Mr Stewart said Sun Life had run a representative office in Beijing for two years and was now in discussions with Chinese officials over a licence.

20 Sep 1997 - 12:00am

Samsung opens offices

SOUTH Korea's Samsung group has entered China's insurance market by setting up Beijing representative offices for two subsidiaries, Samsung Life Insurance and Samsung Fire and Marine Insurance.

Samsung said it would expand its investment in China, especially in the fields of finance and insurance, reports Xinhua (the New China News Agency).

22 Apr 1995 - 12:00am

NZI counters agent disbarring claim

NEW Zealand Insurance Life (Bermuda) has countered claims that insurance agents will be disbarred from selling life insurance in Hong Kong under an industry code, in the event they are sacked by their employer.

27 Jan 1994 - 12:00am

National Mutual to fight off new rival

NATIONAL Mutual Asia plans a two-pronged approach to fight off a rival insurance group believed to have poached its former managing director Andrew Yang.

The company is fighting off a growing crisis of confidence among its agents and shareholders after the departure of Mr Yang last week.

26 Jan 1994 - 12:00am

National Mutual grapples with crisis

THIS will be a crunch week for National Mutual Asia, the target of a dirty-tricks campaign.

The insurer saw its stock plummet at the end of last week after the sudden departure of chief executive Andrew Yang and a smear campaign against the group.

24 Jan 1994 - 12:00am