China Insurance Monthly Report - March 2009 China Insurance Monthly Report, a monthly English review co-operated by Chinadaily.com.cn and ResearchInChina.com, brings you the latest news, policies, analysis and statistics on China's insurance market and much more. With China Insurance Monthly Report, you can take a close look at the up-to-date market news, detailed government policies, in-depth analysis, statistics, information on the presence and performance of domestic insurance companies and their overseas counterparts. Table of content • OVERSEAS BULLETIN • AXA-Minmetals launches new brand campaign • AIA China to increase sales force by 15% • ERGO studies JV plan in China • Sanofi sees acquisition opportunities in China • LATEST EVENTS • PICC Group reshuffles top management • Taikang wins major railway annuity manager bids • Urban pension insurance to cover 223m Chinese by 2010 • China Coal Insurance halts operations for overhaul • PICC Property says AIG has no intention of selling its shares • Major Chinese insurers cut high-level investment jobs • Taikang Life eyes pension business • Aviation giant signs with several insurers to cut costs/risk • Sunshine pays out 1m yuan in Shandong bus accident • Union Life replenishes capital to 1.5b yuan • • • • • • • • • Insurance plan encourages investors at midday Jiangxi to offer 40m yuan in subsidies to expand farm insurance Insurers speed up payment of HFMD claims Grieved tourists leave Taiwan after crane crash kills friends ABC branch banned from selling insurance products AXA-Minmetals Assurance fined for illegal transaction Economic census to be monitored BoCom aims for insurance, brokerage business Chinese insurers to compensate on swine flu • FOCUS on PING AN • • • • • • • Ping An Insurance 2008 net profit down 94.4% Ping An shares soar on upbeat outlook Ping An debuts low-rate participating insurance plan Ping An promotes kidnap and ransom insurance Ping An pays 2m yuan in helicopter crash China’s first tort liability insurance product unveiled Fortis asset sale may not impact Ping An • NEW PRODUCTS • • • • Allianz releases two new bancassurance products Cathay Life launches new endowment plan PICC Property approved to sell vehicle insurance by phone Union Life rolls out another new product • • • • New China Life partners with ABC to promote new product Taikang Life announces long-term health product Great Wall Life promotes comprehensive insurance for kids Travel losses to be reimbursed under new AIU policy • FOCUS on HEALTH CARE REFORM • • • • • • • • • • China steps up reforms to improve health care Health reform to boost economy Govt capable to guarantee investment for health care reform Plans follow WHO principles Businesses ready for health care plan The right prescription Docs head to hamlets in health care reform Rural health care gets cash boost Licensing health care Economic planning agency to support rural health care reform • CHINESE ECONOMY • • • • • • China’s economy to bottom out in mid 2009: WB China exports fall at slower pace in March China’s foreign reserves hit $1.95 trillion China to keep relaxed monetary policy Profit squeeze, tax cuts hit Q1 revenue Report: Cities grow fastest, but competitiveness still low • • • • • FDI in China declines 20.6% in Q1 China’s economy ‘better than expected’ China now 5th largest gold holder China moves up competitiveness ranking China’s energy intensity down 2.9% in Q1 • FROM THE WATCHDOG • • • • • • • • • Insurers to fund infrastructure projects Guangzhou slashes insurance premiums Insurance groups must screen risks Executives told to cut their pay Injury insurance to cover retirement home tenants Banks get go-ahead for insurance arms CIRC: Yes to instant payouts, no to misleading Shanghai tightens bancassurance supervision Hong Kong mulls wider bank deposit insurance cover • ANALYSIS • • • • Insurance industry feels downward pinch New policies to boost insurers’ profits Insurers’ investment return up 41%, but still weak Pension reforms ‘need to gather pace’ • STATISTICS • • • • • • • • Tai Ping Insurance pays out 87m yuan for snow disaster Big three life insurers see higher premiums in Feb China Pacific's premium income down High-tech firms pay 1.5b yuan as insurance premium January-February insurance industry figures January-February premiums of life insurance companies January-February premiums of property insurance companies January-February premium income of all regions How to Buy Product details USD How to Order File Single user 299 PDF Enterprisewide 349 PDF Publication date: May 2009 By email: report@researchinchina.com By fax: 86-10-82600829 By online: www.researchinchina.com For more information, call our office in Beijing, China: Tel: 86-10-82600828 Website: www.researchinchina.com