Manson lose in nepal
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Incessant rain has triggered a landslide in Belghari-Sera road in Shree Bhanjyang, Lamjung, obstructing the vehicular movement.
The landslide in Bokse Handikhola of Shree Bhanjyang-2 has further buried two ropani land of Gopal Nepali, a local of the area. His house is also in the danger of displacement, a local Umakanth Acharya said.
Nepali has already shifted his possessions from the house to a safer location and the six-member family has decided to move to a safer place.
Six other households of the area are also at a high risk of being buried in the landslide.
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China Life Insurance Company Limited (short China Life, Chinese: 中国人寿保险; pinyin: Zhōngguó rénshòu bǎoxiǎn) is a Beijing-based China-incorporated company that provides life insurance and annuity products. China Life is ranked No. 94 on Fortune 2015 Global 500 Company list. [2] China Life, which is 70% state-owned, is the biggest life insurer in China, but it's coming off a few rocky years. China's insurance market attracted dozens of new competitors after the Chinese government liberalized it, and China Life's market share has fallen by almost half since 2007, from 50% to around 26%, according to Morningstar. The company is completing a major restructuring, and the government assigned it a new CEO in 2014. A new sales push early this year (fueled by an army of newly hired agents) led to a big bump in net income in the first quarter of 2015. China Life is also ranked on Fortune China: 2015 Top 500 Chinese Enterprises at No.13.
China Life has more than 600,000 agents nationwide, making its cost of acquiring new customers relatively low. China Life has a substantial share of China's group life and health insurance business, and its government ties give it an inroad to help it build that business among state-owned enterprises.[3]
China's government recently allowed Chinese insurance companies to invest in foreign real estate; China Life just made its first such investment, in a Boston waterfront project
1919: American Asiatic Underwriters (later AIG) is founded in Shanghai.
1929: Tai Ping Insurance Company is founded in Shanghai.
1931: China Insurance Company is founded in Shanghai.
1949: The Chinese government takes over all insurance operations on the mainland, establishing People's Insurance Company of China (PICC).
1959: Insurance operations are abolished, except for foreign (marine and aviation) insurance needs, and PICC becomes a department of the central bank.
1979: Following the launch of economic reforms, PICC begins issuing non-life insurance policies.
1980: A joint venture is formed with AIG.
1982: PICC begins offering life insurance policies.
1988: The Chinese government licenses the first competing insurance companies.
1996: PICC is restructured as PICC Group, as a holding company for its life, reinsurance, and property operations.
1999: PICC Group is dissolved and replaced by four state-owned companies, including China Life Insurance.
2003: China Life goes public on the Hong Kong Stock Exchange and the New York Stock Exchange in the world's largest public offering that year.
2004: China Life announces its intention to diversify into asset management, brokerage services, and banking services in the near future.
China Life Insurance Company Limited is the largest life insurer in the People's Republic of China. The company offers individual life insurance, group life, accident insurance, and health insurance policies. China Life commands 45 percent of that market, and holds the number one position in 29 of the country's 31 major markets—only Shanghai and Beijing, where the company nonetheless is number two, escape its dominance. Formed from the breakup of former government-owned monopoly People's Insurance Company of China, China Life is the only life insurance company in China with a national operating license, which has permitted it to develop a network of more than 8,000 field offices, 4,800 branch offices, 3,000 customer service offices, and 87,000 sales outlets in such locations as banks, post offices, hotels, airports, travel agents, and the like. The company's nearly 67,000 employees are complemented by a network of 650,000 exclusive independent sales agents. The company also operates a "one-stop" 24-hour telephone sales and service hotline. Together, China Life serves more than 100 million long-term policy holders and more than 150 million short-term policy holders, generating nearly CNY 51 billion ($6.2 billion) in net premiums and policy fees in 2003. The group's total sales topped $9.5 billion that year. China Life listed on the Hong Kong Stock Exchange and the New York Stock Exchange at the end of 2003, raising $3.5 billion in that year's largest initial public offering (IPO). China has indicated its intention to expand into other financial areas, such as asset management, brokering, and banking.
Inheriting China's Pre-Revolution Insurance Industry The opening of China to the West in the early years of the 20th century led to a variety of new business opportunities. By the end of World War I, China, and especially Shanghai, had become a major center for international trade, although dominated by foreign interests. The lively commercial market in that city offered entrepreneurs seemingly unlimited potential; among these was the young C.V. Starr, an American, who founded an insurance agent's office in Shanghai in 1919. At first, Starr's company, American Asiatic Underwriters (AAU), served as a local representative for foreign insurers.
AAU originally dealt in fire and marine insurance policies. In the early 1920s, however, Starr recognized the vast potential for life insurance among the country's Chinese population. Starr set up a new company, Asia Life Insurance Company, which became the first to market life insurance products to the Chinese. The company's head start allowed it to build quickly into a leading insurance provider not only across the Chinese mainland, but throughout much of the Asian region. Starr's company eventually evolved into U.S. leader American Insurance Group. In the meantime, Asia Life's success inspired a raft of competitors. Most of these were local representatives of large foreign companies. A number of local groups appeared, however, and played an important role in developing the life insurance market among the indigenous population.
One of the earliest and most important of these companies was the Tai Ping Insurance Company, which was incorporated in Shanghai in 1929. Founded by Mr. H.N. Ting (Ting Hsieh Nung) with the help from the Chin Chen Bank Shanghai, the new company received start-up investments from a number of Chinese banks and began issuing general insurance policies. The following year, Tai Ping added a life insurance component, Tai Ping Life Insurance Company. Tai Ping developed strongly through the 1930s, adding nearly 20 branches in major cities in China as well as elsewhere in southeast Asia. The company also opened some 400 secondary offices across the Chinese mainland, before adding representative offices in Europe and in the Americas.
By the mid-1930s, Tai Ping had grown sufficiently large to become a member of the Shanghai Insurance Association, the only Chinese-owned company to be included in what had previously been an exclusive club for foreign insurers. Tai Ping's fortunes began to dwindle after the start of the Sino-Japanese War in 1937, and especially with the Mao-led Communist revolution in 1949.
Tai Ping in the meantime had been joined by a growing number of other Chinese-owned insurance companies. Among these were China Insurance Company, founded in 1931 in Shanghai, which opened a life insurance subsidiary, China Life Insurance Company in 1933. Later insurance market entries included Ming An Insurance Company, established in Hong Kong in 1949. By then, China boasted more than 240 insurance companies—some 180 of which were Chinese owned.
Following the revolution, the Mao government set up the People's Insurance Company of China (PICC), which took over all insurance interests on the mainland. Tai Ping's leadership fled to Taiwan in 1950, reestablishing the company's operations there. Other companies, especially those that had set up foreign branches in Hong Kong, Singapore, Taiwan, Saigon and elsewhere, withdrew from the mainland to rebuild their businesses around their foreign holdings. Foreign insurance companies were simply expelled outright, and their holdings regrouped under PICC as well.
At first the PICC monopoly continued to operate its various insurance services, integrating the assets of the former independent insurance sector. By 1952, PICC represented a national network of 1,300 branches and 3,000 agency outlets. Yet the Chinese government, in its effort to develop its regime, determined that insurance was superfluous in a state where the government was meant to provide for all social welfare for its citizens. In 1959, therefore, all domestic insurance business was ended. PICC's role was reduced to providing insurance covering the country's foreign policy needs, such as for the marine and aviation sectors. Following the reform, PICC was converted into a department of the government's central bank.
Reforming in the 1980s Economic reforms launched under Deng Xiaoping in 1978 paved the way to a rebirth in China's insurance sector. In 1979, the People's Insurance Company of China was separated from the central bank and reestablished as an independently operating, although state-controlled, company. In that year, PICC began offering general (i.e., non-life) insurance policies. In 1980, as the first initiatives to bring foreign investment capital in the country emerged, PICC formed a joint venture with American Insurance Group—allowing the American company to test the waters before making a broader return to the mainland insurance market in the 1990s.
PICC began offering life insurance policies again in 1982, targeting the small but growing numbers of middle-class and wealthy Chinese, as well as government officials. Nonetheless, the Chinese life insurance market remained tiny—as late as 2004, per capita spending on life insurance amounted to the equivalent of just $28, compared with average per capita spending of as much $2,800 or more in Japan, offering tantalizing prospects for future growth.
PICC officially retained its monopoly on the Chinese insurance market into the late 1980s. In 1988, however, the company's monopoly was abolished. Licenses were granted to the company's first competitors, including Ping An, which, established that year, grew into the country's second largest life insurer, with a dominance in the important Beijing market. Other early domestic competitors included China Pacific, based in Shanghai, which also started business in 1988, and American Insurance Group, which, in 1992, became the first foreign company to be granted a license to operate a self-standing business on the mainland (i.e., not as part of a joint venture with a local partner). Nonetheless, PICC remained the clear insurance champion on the mainland, with a strong national presence. The company also began opening offices overseas, adding locations in Singapore, Hong Kong, Tokyo, and London.
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Manson lose in nepal
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