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China tag returned 1208 results

  • China: Insurance regulator issues fines totalling US$14 mln in first five months

    The Chinese insurance regulator, including local regulatory bureaux, have imposed more than 560 fines on errant insurance entities in the first five months of this year, 30% more than in the corresponding period in 2017. The fines totalled at least CNY90 million ($14 million).

    Asia | 19 Jun 2018
  • Ex-CIRC head pleads guilty to taking bribes totalling US$3 mln

    Xiang Junbo, former chairman of the erstwhile CIRC, yesterday stood trial on bribery charges involving over CNY19.4 million ($3.03 million).

    China | 15 Jun 2018
  • Regulator drafts rules requiring use of real names in insurance transactions

    The financial regulator CBIRC has issued draft regulations outlining requirements for customers to use their real names and their own personal details when buying insurance, to reduce abuse and misconduct in the industry.

    China | 15 Jun 2018
  • Farflung Guangxi and Hainan provinces receive their first registered life insurance company

    Guofu Life Insurance has received approval from the CBIRC to start operations, becoming the seventh insurer so far this year to obtain such permission.

    China | 15 Jun 2018
  • Insurers and vehicle repair shops issue auto maintenance standards

    The Insurance Association of China (IAC) and the China Automotive Maintenance and Repair Trades Association (CAMRA) have jointly issued their first standards for vehicle maintenance, which are aimed at measurement of vehicle maintenance man-hours and specification of accessories for the automobile aftermarket.

    China | 15 Jun 2018
  • PICC & Munich Re signs deal to insure warranties for solar modules

    China's largest non-life insurer, PICC P&C, will provide insurance to product and performance warranties for solar modules delivered to international projects this year. Global reinsurer Munich Re will provide reinsurance to PICC.

    China | 15 Jun 2018
  • Retirement evolves in China

    Three-quarters of Chinese adults expect to live past age 80 and nearly as many - 70% - expect to maintain their quality of life after retiring. Yet only 43% are confident they have saved or invested enough to provide income for retirement.

    China | 15 Jun 2018
  • Non-motor business gains market share in first 4 months of this year

    Non-auto property insurance business soared by 37.17% to CNY149.15 billion ($23.3 billion) for the first four months of this year, compared to the corresponding period in 2017, according to data from the CBIRC. This segment accounted for 36.84% of the total premiums of non-life insurers, an increase of 5.65 percentage points year-on-year.

    China | 15 Jun 2018
  • 49 life insurers show lower universal business from Jan-April

    Forty nine life insurance companies, out of more than 80, posted negative growth in universal insurance sales in the first four months of this year. Among them, 11 reported a plunge of more than 80% in this class of business, CBIRC data show.

    China | 15 Jun 2018
  • At least 10 insurers involved in at-risk Yingkou Port debt investment plan

    Yingkou Port Group, the parent company of Shanghai-listed Yingkou Port, has sent a letter to Sun Life Everbright Asset Management stating that due to a shortage of funds, it is unable to repay as scheduled the principal and interest on Sun Life Everbright-Yingkou Port Debt Investment Plan totalling more than CNY530 million ($83 million), reports 21st Century Business Herald.

    China | 15 Jun 2018

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