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Insurance Industry In China
The Chinese insurance industry has experienced rapid expansion over the past decade. In addition to steadily increasing demand, two major supply-side trends have encouraged the development of the industry: (1) under the World Trade Organization (WTO) framework, the Chinese government lowered entry barriers to foreign insurers, allowing them to establish joint-venture insurance firms in China; and (2) domestic insurers strengthened themselves through initial public offerings and other market developments. (For example, China Life Insurance at one point became the second largest insurance company in the world in terms of market capitalization although the value has kept declining since the stock market peak of 2008.) As of 2007, China had 100 insurance companies, 59 of which are domestic-funded and the rest 41 are foreign-funded. And five Chinese insurance companies including the People's Insurance Company of China, China Life Insurance, Ping An Insurance Company of China, China ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Supply-side
Supply-side economics is a macroeconomic theory that postulates economic growth can be most effectively fostered by lowering taxes, decreasing regulation, and allowing free trade. According to supply-side economics, consumers will benefit from greater supplies of goods and services at lower prices, and employment will increase. Supply-side fiscal policies are designed to increase aggregate supply, as opposed to aggregate demand, thereby expanding output and employment while lowering prices. Such policies are of several general varieties: #Investments in human capital, such as education, healthcare, and encouraging the transfer of technologies and business processes, to improve productivity (output per worker). Encouraging globalized free trade via containerization is a major recent example. #Tax reduction, to provide incentives to work, invest and take risks. Lowering income tax rates and eliminating or lowering tariffs are examples of such policies. #Investments in new capita ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Working Committee
A committee or commission is a body of one or more persons subordinate to a deliberative assembly. A committee is not itself considered to be a form of assembly. Usually, the assembly sends matters into a committee as a way to explore them more fully than would be possible if the assembly itself were considering them. Committees may have different functions and their types of work differ depending on the type of the organization and its needs. A member of a legislature may be delegated a committee assignment, which gives them the right to serve on a certain committee. Purpose A deliberative assembly may form a committee (or "commission") consisting of one or more persons to assist with the work of the assembly. For larger organizations, much work is done in committees. Committees can be a way to formally draw together people of relevant expertise from different parts of an organization who otherwise would not have a good way to share information and coordinate actions. They may ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Insurance Companies In Hong Kong
This is a list of insurance companies in Hong Kong. ''Source: '' ''Source: '' See also *List of banks in Hong Kong External linksStatistics, Office of the Commissioner of Insurance {{Insurance companies of China Hong Kong
Hong Kong ( (US) or (UK); , ), officially the Hong Kong Special Administrative Region of the People's Republic of China ( a ...
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Tianan Insurance
Tianan Insurance (天安保险股份有限公司) is China's fifth largest nonlife insurer. The company was established in 1994. In 2005, Japan's Tokio Marine & Nichido Fire Insurance Co., Ltd. purchased a 24.9% stake in the company. In July 2020, the Chinese government announced that it would take over the company. References External linksTianan Insurance {{Insurance companies of China Financial services companies established in 1994 Insurance companies of China Privately held companies of China Chinese companies established in 1994 Tokio Marine ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Taikang Life Insurance
Taikang Life Insurance Company Limited is a Beijing-based, China-incorporated life insurance company, the fourth largest life insurer by premium income in China, offers services ranging from life insurance to asset management. It was founded in 1996 by CEO Chen Dongshen, a businessman related to Mao Zedong. The company has branches in Beijing, Shanghai, Hubei, Shandong, Guangdong and in other locations. In 2016, it acquired a 13.5% stake in Sotheby's, becoming the largest shareholder of the New York-based auction company. Its headquarters is in the Taikang Life Building (泰康人寿大厦) in Xicheng District. History Taikang Life Insurance Co. Ltd. was founded on August 22, 1995, after approval from the People's Bank of China, as a national corporation headquartered in Beijing. Under the guidance of chairman and CEO Chen Dongsheng, Taikang Life Insurance has experienced steady growth from its inception. From 2006 to 2007, Taikang created the two subsidiaries ''Taikang Asset ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Huaxia Life Insurance
Huaxia Life Insurance Co., Ltd. known also as Hua Insurance in English, is a Chinese insurance company based in Tianjin. In July 2020, the Chinese government announced that it would take over the company. Equity investments * Guangzhou Aoyu (46.04%) * Leshi Zhixin (1.1310%) * Ping An Insurance Ping An Insurance known also as Ping An of China (), full name Ping An Insurance (Group) Company of China, Ltd. is a Chinese holding conglomerate whose subsidiaries provide insurance, banking, asset management, financial, healthcare services. Th ... (3.40%) Shareholders * (20.00%) * (20.00%) * (14.90%) * (13.40%) * (13.37%) * (11.24%) * Tianjin Port Group (5.23%) * (0.98%) * (0.35%) * (0.30%) * (0.13%) * (0.09%) References External links * Life insurance companies of China Companies based in Tianjin Chinese companies established in 2006 Financial services companies established in 2006 Privately held companies of China {{China-company-stub ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Anbang
Anbang Insurance Group () was a Chinese holding company whose subsidiaries mainly deal with insurance, banking, and financial services based in Beijing. As of February 2017, the company had assets worth more than (US$301 billion). The ''Financial Times'' described Anbang as "one of China’s most politically connected companies." Anbang was founded by Wu Xiaohui in 2004 as a regional car insurance company. Chen Xiaolu, a prominent princeling and son of Marshal Chen Yi, served as an early director, although Chen stated that he was merely an advisor and not a shareholder. Its founding shareholders included state-owned car maker Shanghai Automotive Industries Corp., which held a 20% stake. In 2005, state-owned oil company Sinopec bought a 20% share in Anbang. Anbang has more than 30,000 employees in China and is engaged in offering various kinds of insurance and financial products. Anbang's chairman, Wu Xiaohui, was detained in Beijing by government authorities on June 8, 2017, ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
New China Life Insurance
New China Life Insurance Co., Ltd. also known as New China Insurance (NCI) or Xinhua Baoxian Jituan () is a Chinese life insurance company based in Beijing. The Chinese government owns more than half of the shares of the company via sovereign fund Central Huijin, via state-owned enterprise Baosteel Group and a financial service company China Securities Finance. The company is a constituent of stock market indice SSE 50 Index (blue chip of Shanghai Stock Exchange), CSI 300 Index, FTSE China A50 Index and Hang Seng China Enterprises Index. The company was ranked 427th in 2016 Fortune Global 500 and 297th in 2016 Forbes Global 2000. Equity investments The company invested the premium received to several publicly traded company of China, notably Hikvision (0.51% stake in 2015), Industrial Bank (0.21% stake in 2015) and Tianqi Lithium (5.20% stake in 2015). Shareholders ;Top 10 shareholders * State Council of the People's Republic of China (47.36%, as A shares) ** Central Huijin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Minsheng Life Insurance
Minsheng Life Insurance Company is one of China's largest insurance companies and one of the six national insurers supervised by China Insurance Regulatory Commission. Its headquarters are in Beijing, China. It provides integrated insurance services, such as life insurance, property insurance and reinsurance. As of 2012, Minsheng Life employs over 40,000 employees and has established 23 provincial-level subsidiary companies, including Beijing, Zhejiang, Jiangsu, Hebei, Shandong, Fujian, Liaoning, Sichuan Sichuan (; zh, c=, labels=no, ; zh, p=Sìchuān; alternatively romanized as Szechuan or Szechwan; formerly also referred to as "West China" or "Western China" by Protestant missions) is a province in Southwest China occupying most of the ..., Henan, Shanghai, Heilongjiang, Hunan, Jiangxi, Anhui, Guangxi, Shaanxi, Hubei, Shanxi etc. Asset Management Established in 2012, Minsheng Tonghui Asset Management is a wholly owned subsidiary and operates as the asset management ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
China Re
China Reinsurance (Group) Corporation () ("China RE") is one of the largest reinsurance groups in China. History and Company Background China Re originated from The People's Insurance Company of China, the first insurance company in the People's Republic of China founded in 1949. China Re was co-founded by the Ministry of Finance of the People's Republic of China The Ministry of Finance of the People's Republic of China () is the cabinet-level executive department of the State Council which administers macroeconomic policies and the annual budget. It also handles fiscal policy, economic regulations ... and the Central Huijin Investment Company Limited with a registered capital of RMB36,407,611,085 on 22 August 1996. References {{Authority control Financial services companies established in 1949 Reinsurance companies Insurance companies of China Companies listed on the Hong Kong Stock Exchange ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
PICC Property And Casualty
PICC Property and Casualty Company Limited (PICC P&C) is the largest non-life insurance company in mainland China incorporated in 2003. It was one of the three main subsidiaries of the People's Insurance Company of China. PICC P&C is principally engaged in the provision of property and casualty insurance products. It operates its insurance business through motor vehicle, commercial property, cargo, liability, accidental injury and health, agriculture, homeowners and credit. History Equity investments PICC Property and Casualty acquired 19.99% stake of Hua Xia Bank from Deutsche Bank Deutsche Bank AG (), sometimes referred to simply as Deutsche, is a German multinational investment bank and financial services company headquartered in Frankfurt, Germany, and dual-listed on the Frankfurt Stock Exchange and the New York Sto ... and other investors in 2015, subject to regulator approval. PICC Property and Casualty also owned 8.615% stake of sister company PICC Life.http://w ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
China Pacific Insurance Company
China Pacific Insurance (Group) Co., Ltd. (CPIC) known as Pacific Insurance, is a Chinese insurance company. It was established on the basis of the former China Pacific Insurance Corporation, which was founded in 1991 approved by the People's Bank of China. Its headquarters is in Shanghai. CPIC Group is the second largest property insurance company (after People's Insurance Company of China) and the third largest life insurance company (after China Life Insurance and Ping An Insurance) in Mainland China. It provides integrated insurance services, including life insurance, property insurance and reinsurance, through its subsidiaries. The company offers life and property insurance products and services through its subsidiaries, China Pacific Life Insurance Co., Ltd and China Pacific Property Insurance Co., Ltd., respectively. Through its subsidiary China Pacific Asset Management Co., Ltd, the company is also involved in the management, provision of consulting services relating to a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
