THE CHINA

METLIFE Inc’s venture in China aims to become one of the top three foreign insurers for new policy business by 2015, Bob Pei, its chief executive officer, said in Shanghai yesterday.The company plans to increase its

GOLDMAN Sachs has bought a 12 percent stake worth more than US$900 million in China’s Taikang Life Insurance Co, giving the Wall Street giant a foothold into the world’s biggest insurance market.Goldman’s long-overdue purchase could pave

The People’s Insurance Company of China (PICC) unveiled plans yesterday to accelerate its ambitious joint-stock restructuring this year and aims for an early initial public offering (IPO) overseas.The State Council approved the State-owned PICC’s reform scheme

Less than 5 percent of losses from disaster are covered As the market continues to grow and mature, China’s insurance companies should strengthen their risk management and prepare to issue catastrophe insurance, industry leaders said at

Chinese companies are holding discussions with the beleaguered US insurance giant American International Group (AIG) for buying its Asian assets, the insurance regulator said yesterday. Li Kemu, vice-chairman of China Insurance Regulatory Commission, said AIG executives

A total of 30 Shanghai-based insurance companies have signed agreements with the Sixth People’s Hospital of Shanghai to include its four contractual community hospitals into their coverage of commercial insurance compensations.This is the first time that

PICC Property & Casualty Co, a unit of China’s biggest property insurer, plans to raise as much as 6 billion yuan (US$725 million) in a Hong Kong public share sale, giving overseas investors their first access

New China Life Insurance Co, the nation’s fourth-biggest insurer, may raise as much as US$800 million in an initial public offering overseas, scrapping plans for a Shanghai share sale, its President Guan Guoliang said. The life