Asia
Indonesian bank eyes selling insurance at its branches
Bank Rakyat Indonesia is considering selling insurance to its 40 million customers via its 4 000 branches across Indonesia.
Powerful earthquake strikes near Solomon Islands
A magnitude 8.0 undersea earthquake near the Solomon Islands led the Pacific Tsunami Warning Centre to issue tsunami alerts for a host of countries although they have since ended with the threat passing.
Hong Kong Federation of Insurers slams fine proposals on sales reps
The insurance body has submitted a report to the Financial Services and the Treasury Bureau outlining its concerns over proposed fines of up to HK$10m under a new regulator.
Kiln strengthens underwriting teams in Singapore and Hong Kong
As Lloyd's insurer Kiln grows in Asia, it has appointed two senior underwriters in Hong Kong and Singapore for marine and aviation.
Kiln bolsters Asian underwriting team
Kiln has appointed Joyce Fung as a marine liability underwriter in Hong Kong and Graham Oddie as an aviation underwriter in Singapore.
Munich Re profit quadruples in 2012 to €3.2bn
Munich Re’s preliminary figures show a profit of €3.2bn for 2012 (2011: €0.71bn).
Munich Re profit quadruples in 2012 to €3.2bn
Munich Re’s preliminary figures show a profit of €3.2bn for 2012 (2011: €0.71bn).
1 500 join class action lawsuit against South Korean life insurers
Seven South Korean insurers set for lengthy legal battle following claims of price fixing insurance premiums.
Ping An purchase already paying dividends
Share price rise is good news for the Charoen Pokphand Group, the Thai conglomerate that bought HSBC's 15.57% stake in Chinese insurer Ping An.
Lloyd's China CEO hails growth ahead of London visit
More syndicates are placing underwriters in Lloyd's China as it sees premiums rise ahead of CEO Eric Gao's London visit in January.
UK has large rise in recalls of Chinese-made products
Law firm Reynolds Porter Chamberlain has discovered that Chinese made products accounted for 78% of all UK non-food consumer goods recalls in 2012 up from 54% in 2011.
Asian Development Bank calls for government disaster risk financing initiatives
With only 5% of disaster losses insured in Asia, the Asian Development Bank wants Asian governments to offer risk financing instruments such as catastrophe bonds to help with disaster resilience.
Thai government reinsurance fund reassures companies
International and domestic companies that suffered damage during the devastating Thai flooding in 2011 have purchased 3,745 catastrophe insurance policies from the National Catastrophe Insurance Fund.
Insurance Insight Q+A: Mark Saunders, Towers Watson
Insurance Insight interviews Mark Saunders, managing director, Hong Kong and managing director for the insurance sector, Asia Pacific at Towers Watson.
Lonmar hires Balchin to grow international marine account
Independent Lloyd’s broker Lonmar Global Risks has appointed marine cargo specialist Ian Balchin to help develop its international cargo account.
Chinese regulator to rule on HSBC's Ping An stake sale
The Chinese Insurance Regulatory Commission is expected to rule on HSBC's proposed stake sale to Thai conglomerate Charoen Pokphand Group on 1 February.
Willis: Cat bonds hit a new high in 2012 with 37% increase
Last year saw the second highest level of catastrophe bond issuance on record signalling strong growth in the market, according to Willis Capital Markets & Advisory.
Microinsurance to reach 1 billion by 2020
The number of low income people covered by microinsurance is expected to hit one billion by the end of the decade, according to the Luxembourg-based Microinsurance Network.
China's soft landing aids other rapid growth markets
An increase in intra-regional trade, easing of monetary and fiscal policy, and higher demand for commodities will lead to an improvement in the economic outlook for the rapid-growth markets in 2013, according to Ernst & Young.
Where is the service culture?
Praveen Gupta, ceo and country manager of Raheja, QBE in Mumbai, and senior member of the Chartered Insurance Institute, wants emerging markets in Asia to place less emphasis on sales and more on service.
Munich Re study predicts greater storm activity in Asia
A study by Munich Re and the German Aerospace Centre predicts we are coming up to the end of a 10-year cycle which will bring greater storm activity in east and south east Asia.
Ace boss Greenberg hails "growing presence" in Asia and Europe
Ace has reported a 76% increase in net income to $2.71bn (£1.72bn) in 2012 compared to the previous year (2011: $1.54bn).
AIG secures HSBC distribution rights in Turkey and France for $55m
American International Group signed a 10-year bancassurance deal with HSBC Group, which see it become the exclusive provider of non-life insurance products to HSBC customers in Turkey and France.
Weak economy to hurt commercial lines more than personal, says Moody's
The outlook for property & casualty insurers is stable in 2013, despite macroeconomic conditions, Moody's said today.