trending Market Intelligence /marketintelligence/en/news-insights/trending/e3VE1onYHKL2l13xbhF96w2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

If your company has a current subscription with S&P Global Market Intelligence, you can register as a new user for access to the platform(s) covered by your license at Market Intelligence platform or S&P Capital IQ.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Report: Chinese auto parts provider, transportation firm mull forming insurers

Part Two IFRS 9 Blog Series: The Need to Upgrade Analytical Tools

2018 US Property Casualty Insurance Market Report

Fintech

Fintech Funding Flows To Insurtech In February

Lemonade Growing Premiums Faster Than Esurance's Homeowners Business Did


Report: Chinese auto parts provider, transportation firm mull forming insurers

Hainan Haiqi Transportation Group Co. Ltd. and Chengdu Haoneng Technology Co. Ltd. are separately looking into establishing insurance companies, which would be named Haijin Property Insurance and Western Agricultural Insurance, respectively, Asia Insurance Review reported.

Hainan Haiqi Transportation Group will reportedly inject 150 million Chinese yuan into its entity, giving it a 10% stake in the insurer. The company said it wants to break into the insurance sector to revamp the group's operating structure and expand into a new sector, according to Asia Insurance Review's report.

The proposed insurer will be led by Hainan Development Holdings Co. Ltd. and will have five other shareholders. It will be registered in Haikou, Hainan province with a proposed 1.5 billion-yuan registered capital, according to the report.

Meanwhile, Chengdu Haoneng Technology will reportedly hold a 4% stake in Western Agricultural Insurance via an investment of 40 million yuan. The proposed insurer reportedly has a registered capital of 1 billion yuan and will be registered in Xichang City, Liangshan Prefecture in Sichuan province.

It will have a total of 18 shareholders, and its biggest shareholder will be Sichuan Financial Holding Group with a 21% stake, Asia Insurance Review reported.

As of March 19, US$1 is equivalent to 6.71 Chinese yuan.