China
From EC3 to the EC
The results of a member feedback survey have spurred Lloyd's of London on to extend its market share by opening more offices in Europe. However, not everyone is convinced by this strategy, as Sam Barrett reports.
PICC raises $732m
PICC Property & Casualty, China's largest non-life insurer in terms of premiums, has completed the issuance of RMB 5bn worth of ten-year subordinated bonds (circa $732m).
Hannover Re gets China license
Hannover Re has received approval to open a branch in Shanghai for non-life reinsurance.
AIG closes in on sale of Taiwanese insurance unit
State-controlled US behemoth nearing $2bn sale of Taiwanese insurance unit.
Chinese (re)insurers clear to invest in real estate
Chinese insurers allowed to invest directly in commercial real estate for the first time under new regulations
US: Chinese drywall makers may ignore lawsuits
Lawyers say they expect Chinese companies that made the wallboard to ignore hundreds of lawsuits filed against them in US courts.
Chinese regulator defines new insurer rules
The China Insurance Regulatory Commission has created new standards in the country's personal accident insurance sector.