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CHINA INSURANCE Aug.1-31 2010 No.74

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CHINA INSURANCE Aug.1-31 2010 No.74 CHINA INSURANCE Aug.1-31 2010 No.74 OVERSEAS BULLETIN Sun Life sees China premiums doubling this year LATEST EVENTS China to see a new wave of listings by insurers FROM THE WACHDOG New rule gives insurers more investment options ANALYSIS China mulls insurance market easing for foreign firms STATISTICS China insurance industry assets total $672b at end-July www.chinadaily.com.cn All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior permission of chinadaily.com.cn. CONTENTS CONTENTS OVERSEAS BULLETIN Sun Life sees China premiums doubling this year............................................................................1 Aviva applies for asset management license in China ......................................................................2 Taiwan insurers allowed to enter mainland equity market................................................................2 CITIC-Prudential Life plans to move headquarters to Beijing .........................................................2 Allianz, Volkswagen tout insurance teamwork, target BRICs ..........................................................3 Chinatrust seeks mainland partner, still interested in AIG unit.........................................................4 Liberty Mutual Group expands business to China............................................................................5 LATEST EVENTS Taikang, Sunshine Insurance plan HK IPO.......................................................................................6 PICC expands business ties with China Southern Airlines...............................................................6 Insurers eyeing shipping insurance in Shanghai ...............................................................................6 8th Worldwide Chinese Life Insurance Congress convenes .............................................................7 China promotes certificate for personal insurance employees..........................................................8 Generali China Life introduces password service.............................................................................8 CNinsure announces senior management reshuffle ..........................................................................8 Guangdong pushes for fire insurance on public gathering places.....................................................9 Shanghai certified 65 insurance intermediaries in credit ratings ......................................................9 China Life’s pilot rural insurance expanded to 16 provinces..........................................................10 China’s first national family insurance sales and service organ set up ...........................................10 Shanghai World Expo handles 563 insurance claims......................................................................10 Henan announces agricultural insurance plan.................................................................................10 New policy will mean lower medical costs.....................................................................................11 100 million Chinese to receive social insurance cards in 2010.......................................................11 Huijin to inject 88b yuan in Exim Bank, Sinosure..........................................................................12 Sinatay Life Insurance to expand capital base ................................................................................12 PICC ventures abroad .....................................................................................................................12 Insurer ups volume of aid ...............................................................................................................13 More than 75m Chinese have social security cards ........................................................................13 Life insurers to pay $2.19m after NE China plane crash ................................................................14 China to see a new wave of listings by insurers..............................................................................14 China Life falls most in 9 months as profit disappoints Citigroup, UBS........................................15 chinadaily.com.cn --------------------------------------------------------------------------------------- CONTENTS FOCUS ON AIA AIG talking to big investors on AIA IPO........................................................................................17 China consortium may bid for AIG's Asian insurance unit.............................................................17 China Cinda bids for AIA stake ......................................................................................................18 More questions than answers for AIA deal .....................................................................................18 China Life not keen on AIA stake buy............................................................................................21 FOCUS ON PING AN Ping An Property Insurance OKed to double capital ......................................................................23 Pricing row gives SDB, Ping An merger jitters ..............................................................................23 Ping An tops CEIBS List of China's private sector companies.......................................................25 Discovery to take stake in Ping An Health......................................................................................26 Ping An Insurance H1 net profit rises 27.9%..................................................................................26 China Ping An posts 3.7% ROI.......................................................................................................28 Ping An to diversify investment channels.......................................................................................29 Ping An may get 1.64b Shenzhen Bank shares...............................................................................29 NEW PRODUCTS Allianz China Life targets bank wealth management clients..........................................................30 China Pacific Life plans long-term financing plan .........................................................................30 Cathay Life’s new medical insurance features premium return......................................................30 Great Wall Life insures family happiness .......................................................................................30 Ping An Life, Bank of Communications to introduce high-end product.........................................31 Heng An Standard Life launches critical disease insurance............................................................31 ECONOMY China's July PMI for non-manufacturing sector rises to 60.1%......................................................32 China's economic growth to slow to 9.2% in Q3............................................................................32 High trade surplus 'likely to remain' ...............................................................................................33 China's July CPI rises to 3.3% ........................................................................................................34 China's June PPI up 6.4% on year ..................................................................................................35 China's July new lending drops to 532.8b yuan..............................................................................36 China's July retail sales up 17.9%...................................................................................................37 chinadaily.com.cn --------------------------------------------------------------------------------------- CONTENTS China's industrial output up 13.4% in July .....................................................................................37 China fixed-asset investment up 24.9% in first seven months........................................................38 China Q2 consumer confidence index rises: Nielsen survey ..........................................................38 China's FDI up nearly 30% in July .................................................................................................39 FROM THE WATCHDOG Shenzhen to conduct auto insurance trial in Oct.............................................................................40 New rule gives insurers more investment options ..........................................................................40 China's financial sector steps up self-examinations........................................................................41 CIRC reviews Sichuan’s development of insurance brokers ..........................................................42 Insurance for servicemen greatly raised..........................................................................................42 Watchdog urges settling of farm insurance claims..........................................................................43 Insurance regulatory body set up in Tibet.......................................................................................43 ANALYSIS China mulls insurance market easing for foreign firms ..................................................................45 Low investment income to dog top Chinese insurers .....................................................................47
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