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Article: PICC HEALTH PUNISHED FOR BANCASSURANCE
- Article from:
- AsiaInfo Services
- Article date:
- January 14, 2009
CopyrightProvided by ProQuest LLC. (Hide copyright information)
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AsiaInfo Services
01-14-2009
PICC Health Punished for Bancassurance
BEIJING, Jan 14, 2009 (SinoCast Daily Business Beat via COMTEX) -- PICC Health Insurance Co., Ltd. is said to be asked by the China Insurance Regulatory Commission (CIRC), the top Chinese insurance regulator, to suspend universal life insurance business in Beijing, Shanghai, Shenzhen, Jiangsu Province and Liaoning Province from January 1, 2009 due to low solvency.
In order to resume business, the company made a decision to enlarge its registered capital by CNY 2 billion, revealed an insider. Presently, CNY 1.62 billion from its top shareholder the People's Insurance Company (Group) of China has remitted account.
The ...
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Article: China : Chinese Insurance Authority Nods CNY2bn Subordinated ...
TendersInfo;
August 17, 2009 ;
483 words
... ... In detail, China Life Property and Casualty plans to issue at most CNY 1.2 billion subordinated bonds and PICC Health Insurance at best CNY 800 million. Notably, PICC Health Insurance once received a warning by the commission last year, because ...
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