Master Insurance
@ChinaInsurance
Important and Interesting News about China Insurance Market, Run by Master Risk & Insurance Services, LLC, a world-class insurance agency based in Shanghai.
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http://news.morningstar.com/newsnet/ViewNews.aspx?article=/DJ/201011250301DOWJONESDJONLINE000332_univ.xml
Survey shows homeowners insurance covers less than 10% of households in the apartment building burned down last Monday.
Insurance pays out less than RMB 10 million to victims of apartment building fire dated Nov. 15.
China Ming An General Insurance Company priced at RMB 1.52 billion (US$ 250 million) for sale. Several domestic PEs showed interests.
China insurance industry made RMB 1 trillion premium income in the first 8 months. Life 75%, non-life 25%. Annual growth rate is 33%. Wow.
Fubon Insurance was licensed by CIRC and will open in Xiamen, marking the first P&C insurer from Taiwan lands on the Mainland as per EFCA.
Total premium income in China hit one trillion yuan (some US$ 160 billion) by the end of August, marking 33% yoy growth.
Lloyd's China has just been converted from a reinsurance company to a direct insurer. One more big fish in the muddy water.
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