China Economic ReviewDutch insurer Aegon will set up a life insurance joint venture in China with the China National Offshore Oil Corporation, Xinhua reported. Each partner will have a 50 per cent stake in the venture, which will have an initial capital of US$24m. Based in Shanghai, the joint venture is expected to start operation in September […]
China’s largest shareholding insurance company, Ping An Insurance, is planning to set up a financial conglomerate in the second half of this year, China Daily said. The expanded group would encompass securities and trust businesses in addition to life and non-life insurance businesses. Company chairman Ma Mingzhe said that the China Insurance Regulatory Commission and […]
A quarterly survey of employment conducted by the Ministry of Labour and Social Security showed that China’s 62 major cities had 1.45m registered unemployed in the last quarter of 2001 and 1.09m jobs available for them. Xinhua said that unemployment was highest in north-east China and that most of the unemployed who found jobs were […]
China has approved eight more foreign insurance companies to operate or expand their business in the country, said Xinhua. The companies are CNP of France, Surich Insurance of Sweden, Allianz and Gerling- Konzern Allgemeine of Germany, Transamerica Occidental Life of the US, Commercial Union and Royal Sun Alliance of the UK, and a Shanghai-based joint […]
Swiss Reinsurance Group is awaiting regulatory approval to enter China’s reinsurance market, China Daily said. When approval is given, the group will set up a wholly owned branch in China, likely to be in Shanghai or Beijing. When approval has been given, the group will become the first foreign firm to offer reinsurance in China. […]