China Export & Credit Insurance Corp. [Sinosure] reported accumulated underwriting income of US$129.13 billion, up 51% year-on-year for the first half of 2011, attributed to continuing domestic economic growth and market expansion to emerging markets. Export credit insurance underwriting income rose 46.1% to US$106.5 billion. Of that, short-term export credit insurance underwrote US$103.81 billion, up [...]

China Export & Credit Insurance Co., Ltd. (Sinosure), a policy-oriented insurer, will compensate up to USD 99 million to Zhengzhou Yutong Group Co., Ltd. for the latter’s defaulted payment by Cuba importer. The compensation will be paid on five installments. The first installment of USD 14.27 million was paid this March and the second installment [...]

Indian insurance regulator Irda has imposed a fine of Rs 70 lakh (US$157,843) on SBI life insurance for paying excess commission to the agents in violation of the group insurance guidelines. “Considering the gross and continued nature of the violations, the Authority has come to the conclusion that it is just and proper to impose [...]

Swiss Re-insurance Company recently reckons that emerging countries will take more shares aggressively in global insurance market, and China may become the world’s second largest insurance market within ten years. According to the 2010 annual assessment report of Swiss Re-insurance, the world’s insurance premium increased by 2.7% year on year, reaching USD 2.52 trillion. Respectively, [...]

China life insurance Company Ltd (601628.SH; 02628.HK) issued an announcement on June 3 after market close, saying that its chairman Yang Chao asked to resign from the company’s chairman of board and executive director for his age at board meeting on the day, and got approved. The announcement went on that the board had elected [...]