Chinese people have to pay 40 percent or in some areas even 50 percent of their salary to buy social insurance by law, much higher than the level of most countries in the world, Bai Chongen, an economist from Tsinghua University found in his latest research, the Xinmin Evening News reported.
In the Chinese mainland, the [...]
China Life Insurance Co, the world’s biggest life insurer by market value, on Tuesday revised up its 2009 net profit growth forecast to more than 200 percent from 2008, citing accounting rule changes.
China Life did not give details on its 2009 earnings, but said that it posted a net profit of 10.068 billion yuan ($1.47 [...]
Ping An Insurance (Group) Co of China has no plans this year to raise capital, board chairman Ma Mingzhe told reporters, according to Friday’s Guangzhou Daily.
Ping An, China’s second largest insurer, is waiting for approval to acquire Shenzhen Development Bank. The company has no plans to buy shares in other banks or real estate companies [...]
Beginning next week, drunken drivers will face a new penalty of paying higher automobile insurance rates, a new measure to stem the deadly trend on the nation’s roads.
Drivers found with a blood-alcohol content of more than 80 mg per 100 ml of blood will have to pay the motor vehicle accident liability compulsory insurance rate, [...]
China will link compulsory automobile liability insurance rates with drink-driving records, the China Insurance Regulatory Commission (CIRC) said Thursday.
The scheme, which will come into effect from March 1, 2010, will penalize drunk drivers and raise drivers’ safety awareness, a statement on the CIRC’s official website said, citing a notice jointly issued by the CIRC and [...]
China’s insurers will benefit more than banks as “accelerating” inflation pushes bond yields higher and lending growth slows, according to Morgan Stanley.
“We don’t think there’s a massive inflation problem in China, but we’re definitely in a period of accelerating inflation,” said Jonathan Garner, Morgan Stanley’s emerging markets strategist. “The insurance companies tend to be more [...]
