Insurance News ME

China's Life Insurance to Face Challenges

China's life insurance sector is to face strong challenges in 2009, said Wan Feng, president of China's biggest life insurer China Life Insurance Company Limited (601628.SH, 2628.HK), based in Beijing, capital city of China.

AIG, foreign insurers lose market share in Shanghai

SHANGHAI, Nov 19 (Reuters) - Foreign life insurers' market share in Shanghai, China's commercial hub and a key market, declined for a third month in a row in October as troubles at overseas firms such as AIG dented consumer confidence.

Bancassurance Drives up China Life's Premiums

China's biggest life insurer China Life Insurance Company Limited (China Life, 601628.SH, 2628.HK) reaped premiums of CNY 151.5 billion in the first five months of 2008, thanks to contributions made by bancassurance business, according to latest data from the listed insurer.

U.S. insurer in talks with the big banks

BEIJING, June 17 -- The American International Assurance Co is to cooperate more closely with banks to boost its bancassurance business in China, a senior executive said yesterday.

CITIC-Prudential Upgrades Bancassurance Plans in China

BEIJING, The Chinese life insurance joint venture involving United Kingdom-based Prudential plc is entering into a ban cassurance partnership with China CITIC Bank involving the launch of new products and services.

CHINA - Curbs on insurance JVs likely

China may prohibit foreign insurers from buying into more than one domestic insurance company, in an effort to avoid competition between the buyer and the seller

Taiwan Life Insurance gets green light on China JV

Taiwan Life Insurance Co. has won approval from Chinese authorities for an insurance joint venture in China, the company said on Tuesday, the third such tie-up between firms in the two countries.

China's Sunshine Insurance in overseas travel insurance tie-up with AXA

Beijing-based Sunshine Property and Casualty Insurance Co said it has launched an overseas travel insurance product jointly with Europe's No. 2 insurer AXA.

China promotes micro-insurance to extend coverage in rural areas

Chinese farmers, who are not well protected against all kinds of risks for lack of proper insurance products, can expect to see more of them come under the insurance umbrella as the country started to promote micro-insurance products in rural areas.

China 2007 insurance premiums up 24%

Insurance premiums in China increased 24 percent in 2007 to hit 700 billion yuan ($97 billion), Wei Yingning, vice chairman of the China Insurance Regulatory Commission said on Tuesday.