HSBC Life Insurance Company Limited (HSBC Life), a 50:50 joint venture between HSBC Insurance (Asia) Limited and Beijing-based The National Trust Limited, marked the official launch of its insurance operations in Beijing in a ceremony held today after receiving a licence to offer HSBC insurance products in the city recently. HSBC Life has been operating in Shanghai since August 2009. HSBC’s expanded insurance presence in China will enable HSBC and Hang Seng Bank customers across a combined 14 outlets in Beijing to access a comprehensive range of HSBC insurance solutions…
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China State Council may discuss allowing foreign auto insurance companies into the country
Since 2009, China has been able to boast a profit in its auto insurance sector, as it experienced a tightening on the regulation of price controls that turned it around after years of losses within the insurance industry as a whole, as 70 percent of its profits were from that sector. Now, China’s State Council is thinking about taking things a step further, with the consideration of a plan that would permit some foreign insurers to sell their own liability policies for the first time within the country, increasing the…
Read MoreEmerging markets show promise, according to Lloyd’s
Lloyd’s has been making a significant effort to improve access to overseas markets after seeing promising opportunities for international trade among emerging economies. Though Lloyd’s has been very active in this pursuit, it also published an article on its own website which requested improved cooperation among the participants in the markets, itself, and the managers within its own country, which would allow for further improvements to the current opportunities. It was acknowledged by Lloyd’s that regardless of the financial crisis worldwide, a number of emerging markets within Latin America and…
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