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Foreign Players Expect Market Share to Expand (10-9-2008)

The total number of foreign insurers in China is expected to reach 70 by 2011 from fewer than 50 at present, with their overall market share to expand from 6% to 10% in the same time frame, according to a survey by the international accounting firm, PricewaterhouseCoopers. The foreign insurers covered in the study project annual premium growth of between 20% and 50% from 2008 to 2011.

CIRC Eyes Gradual Price Liberalisation (10-9-2008)

The insurance regulator's goal is to allow the market to set rates, according to Mr Wu Dingfu CIRC Chairman in an interview with the Beijing-based Caijing magazine.

CIRC Checking on Insurance Agency Services of Banks (10-9-2008)

China's insurance industry watchdog, the China Insurance Regulatory Commission (CIRC), has begun checking on agency services provided by banks and postal savings organisations for life insurance companies, reports the Xinhua News Agency

Insolvent Insurers Should Seek Mergers or Exit the Market: CIRC (AIR) (10-9-2008)

The CIRC aims to act on those insurance companies that still face insolvency despite having made concerted efforts to improve their financial positions, says Mr Wu Dingfu who is the Chairman of the insurance regulatory body.

China Life Not Ready Yet for Group Listing (10-9-2008)

China Life Insurance, the country's top life insurer, has said that it needs more time before it would seek a group listing because conditions for such a move are still immature.

Handful of Asian Companies among World's 20 Largest Reinsurers (8-9-2008)

Five Asia-based companies are rated among the world's 20 largest reinsurers in 2007 in terms of net reinsurance premiums written, reports Bloomberg citing Standard & Poor's.

Phil Insurers May Raise Premiums because of Stamp Tax (8-9-2008)

Insurers in the Philippines have warned that premiums would be increased to make up for a PHP15 (32 US cents) documentary stamp tax to be imposed by the government on certificates of insurance, according to news reports from Manila.

Thai Protestors Not Covered by Insurance (8-9-2008)

Insurers in Thailand are warning protesters who participate in political rallies that they do so at their own risk, as insurance policies mostly exclude riot coverage and are unlikely to pay compensation if policyholders are injured or killed in the protests, reports the Bangkok Post.

Japanese Insurers to Cap Cover for Children to 10 Mln Yen (10-7-2008)

The Japanese insurance industry has proposed introducing voluntary rules to cap death insurance benefits for children 15 years old or younger to 10 million yen (US$93,140), reports Jiji Press.

Non-life Insurers Overcharged Clients by 37 Bln Yen (10-7-2008)

Twenty-six general insurers operating in Japan have overcharged policyholders by a combined 37.1 billion yen (US$345.5 million) in premiums in about 1.53 million cases, reports Kyodo News

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