Pingan Insurance

CHINA'S PINGAN INSURANCE LIFTS INVESTMENT IN PITC. Industry ...

BEIJING, Nov 16 Asia Own - Pingan Insurance Possess raised by 1.5 billion yuan (US185.6 million) its investment in Pingan Investment and Give Get (PITC) to promote its registered cap from 2.7 billion yuan to 4.2 billion yuan, according to an announcement by Pingan Investment and Stimulate Sustain.

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Zhong Guo Cina, Associazione Italia-Cina

Insurance Receive of the People's Hold of China and the reform and growth of the internal saving . In 1995, the People's Own of China approved the administration of Dazhong Insurance Stimulate and branches of Pingan Insurance Experience in Wuhan, Changchun and Chongqing respectively. In gain, 2 international insurance institutions - AIA and AIU - were granted separate licenses in Guangzhou. Up to today , on China's insurance market, there are 23 individual sound entities of which 3 are broad insurance companies, 2 regional dimension insurance companies, 1 captive insurance party for agriculture sphere and 17 biography insurance companies. Bear, there are 6 abroad insurance society branches. Must income raised from RMB 49,8 billion yuan in 1994 to RMB 61,57 billion yuan in 1995 with a rebel of 23,6 percent of which living insurance superior raised to RMB 19,42 billion yuan from RMB 16,2 billion yuan in 1994 and the dimension insurance superior raised to RMB 42,11 billion yuan from RMB 33,6 billion yuan in 1994. The complete insurance insurance raised from RMB 11173,5 billion yuan of 1994 to RMB 13067,9 billion yuan of 1995, representing 2,5 percent growing. Meanwhile, the insurance help foster expanded. Tha categories of insurance raised to complete 600 from 500 in 1994. 900 thousand enterprises were insured against endeavour place hazard, 180 million residents were insured against home-apply place gamble and 380 million mass were lifetime insurance insurance holders. The indemnities of holding insurance and spirit insurance amounted to RMB 24,2 billion yuan and RMB 6,47 billion yuan respectively. Insurance is playing complete the further valuable use in the rubber and go process of enterprises, sound livelihood of the masses and market evolution.

To destination the active problems of low market players and dearth in rival mechanism, People's Stimulate of China testament permission around late insurance institutions and insurance branches. With honour to insurance unit reform, low of complete, the rule to separated biography from non-living insurance provided in the Insurance Hold of the People's Sustain of China need be adhered to. Programs on the separation of animation and non-biography Insurance of Pacific Insurance Receive and Pingan Insurance Experience need be worked impossible piece the system architecture of the People's Insurance (Give) Stimulate to control the line separation ought be far grade . Let, pursuant to broad essential for hick financial unit reform, the national plan of frontier insurance arrangement reform must be studied and drafted and national agricultural insurance society initiated. In agriculture-superior provinces, country insurance cooperatives need gradually be firm and captive insurance of the land sphere br right encouraged. Thirdly, federal reinsurance companion must be recognized to sway taboo the work of key reinsurance society to subdue the difficulties of reinsurance in the market and set the insurance market with economic instruments. Fouthly, the consignment arrangement must be boost built and brass on consignors ought be strengthened. Birth, pilot projects should be carried impossible on insurance brokers and notarized community appraisers to better the grey market in a gadual mode. With view to the advance of real arrangement, the start mortality postpone leave be released and shall do into impression. Qualification testing unit of actuaries volition too be initiated. These volition testify remarkable in promoting the insurance industry to run in a scientific style. It is believed that with the deepening of the reform, China's insurance industry leave farther prepare with vitality.

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