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Property & Casualty tag returned 4217 results

  • Hong Kong: Well Link Life CEO takes on more responsibilities

    Well Link has appointed Mr Thomas Lee as CEO of Well Link Insurance and deputy CEO of Well Link Insurance Group, while continuing to serve as the CEO of Well Link Life. He is responsible for leading the business development of life insurance and general insurance. The appointment has been approved by the regulatory authority. He is a senior executive in the Hong Kong insurance industry. He assumed the role of CEO of Well Link Life in April 2019.

    People | 23 Sep 2022
  • Number of insurance sales personnel plunge by 4m in 2.5 years

    The insurance industry counted 5.707m sales personnel nationwide as of 30 June 2022, according to a report issued by the CBIRC based on data from the insurance intermediary supervision information system.

    China | 23 Sep 2022
  • Days of double-digit business growth "are over", says major insurance group

    The days of double-digit or even higher growth in the mainland Chinese insurance industry are gone, and steady growth is now the norm, say senior management of China Pacific Insurance (Group) Co [CPIC].

    China | 23 Sep 2022
  • No single foreign or Sino-foreign insurance venture has over 2% of mainland Chinese market

    China's insurance market has grown over 40 years to become the world's second-largest insurance market, after the US. However, the growth has been largely based on the activities of domestic players, notes the Insurance Working Group (IWG) of the European Union Chamber of Commerce in China.

    China | 23 Sep 2022
  • P&C business continues to drive premium income of insurance groups

    China's top five A-share listed insurance groups posted a 4.04% increase in aggregate premiums to CNY1.91tn ($270bn) for the first eight months of this year, compared to the corresponding period in 2021.

    China | 23 Sep 2022
  • Over 50% of P&C insurers report underwriting losses for 5 years in a row

    More than half of the non-life insurance companies, that total around 90 in China, have posted underwriting losses for five consecutive years, according to a report released by the China Insurance Security Fund Co (CISF).

    China | 23 Sep 2022
  • European insurers in China seek clarification on setting up Party organ in foreign-invested ventures

    The European Union Chamber of Commerce in China, through its Insurance Working Group (IWG), has called on the CBIRC to clarify whether or not foreign-invested insurance companies in JVs are subject to requirements to integrate the corporate CCP (Chinese Communist Party) leadership into all aspects of corporate governance.

    China | 23 Sep 2022
  • European trade chamber renews call on CBIRC to train local bureaux to handle licensing

    Part of the problem for insurers in expanding branches in mainland China, particularly foreign insurers, is that local CBIRC offices lack experience in dealing with foreign-invested insurers, says the Insurance Working Group (IWG) of the European Union Chamber of Commerce in China. This has an impact on licence applications and business development.

    China | 23 Sep 2022
  • Hong Kong: FWD units maintained on 'Rating Watch' in wake of IPO plan

    Fitch Ratings says that it has maintained the 'A' Insurer Financial Strength (IFS) Rating of Hong Kong-based FWD Life Insurance Company (Bermuda) (FWD Life HK) on Rating Watch Evolving (RWE). Fitch has also kept the 'BBB+' Issuer Default Rating (IDR) on parent FWD Limited on RWE.

    Asia | 23 Sep 2022
  • South Korea: Biggest non-life insurer's underwriting performance is extremely stable

    Samsung Fire & Marine Insurance (SFM) has a long-term track record of strong operating performance, underpinned by its large net income stream that is mainly supported by robust investment profits, and extremely stable underwriting performance with the lowest combined ratio among its domestic peers, says AM Best.

    Asia | 23 Sep 2022