Asia
Technology-centric business models key to insurer survival
Continued economic pressure will force insurers to take a more innovative approach to the role of technology in decision-making and operations, according to a new report from technology research firm Ovum.
Guy Carpenter probes causes of Thailand flood losses
Guy Carpenter has published an in-depth review of the meteorological and man-made factors that contributed to the 2011 Thailand flood catastrophe and resulting insured losses, estimated at between $15bn and $20bn.
Aon Benfield launches Thailand flood model
Global broker Aon Benfield has launched a flood model for Thailand to help global insurers better understand their exposures in the region.
Axa reports P&C growth in Turkey, Mexico and Gulf with Q3 results
Axa Group has reported total revenues up 1% to €68.4bn for the first nine months of 2012.
Western sanctions threaten to halt Iran's shipping industry
Western sanctions are jeopardising Iran's vital shipping industry, and the country's biggest cargo carrier will face serious problems if the pressure continues, according to the head of the Islamic Republic of Iran Shipping Lines.
Indian FDI raise could drive broker M&A
India's insurance broking industry may see a rise in mergers and acquisitions if the proposed increase in the foreign direct investment limit is passed by parliament, according industry sources.
Demand for transactional risk cover up 35% in 12 months
Businesses globally are increasingly turning to the insurance market for transactional risk protection in a bid to shield revenue and assets from the risks faced on acquisition and exit or sale, according to a report published today by Marsh.
JLT's Q3 profit warning indicates challenges ahead
Jardine Lloyd Thompson faces significant challenges to its ambition to be a top three global player, according to an Investec analyst note.
BrokersLink launches supply chain tool
BrokersLink has launched Specialized Resources, a risk management service which it says will give members access to tools to help clients identify and quantify potential supply chain risks.
ING sells Hong Kong and Thailand units to Li's Pacific Century Group
ING has agreed to sell its Hong Kong, Macau and Thailand insurance businesses to Pacific Century Group in a deal worth €1.64bn.
Hong Kong insurers face stricter outsourcing rules
Hong Kong-based insurers will have to comply with new rules governing outsourcing from January 2013.
Indonesia or bust?
Indonesia offers considerable opportunities for foreign insurers, but the market is not without challenges.
ING reportedly close to sale of Thailand and Hong Kong units
ING Group is nearing an agreement to sell its Hong Kong and Thailand insurance businesses to Richard Li, Reuters reported today, quoting sources close to the matter.
Pakistan working to develop microinsurance guidelines
Pakistan's Securities and Exchange Commission is formulating a regulatory framework for the micro-insurance sector to meet the needs of low-income citizens.
Top five Asian news stories
The top five Asian news stories from www.insuranceinsight.com over the past seven days.
Willis appoints Plumeri successor
Willis' board of directors has chosen Dominic Casserley, pictured, as the company's next chief executive.
Liability insurance lines growing faster than global economy
Commercial insurance premiums in emerging markets have grown by an average of 14% a year in the past decade, two to three times faster than in developed markets.
IRDA issues new bancassurance guidelines
India's Insurance Regulatory and Development Authority published revised draft regulations on bancassurance tie-ups this week giving more flexibility to banks and insurers.
AIA wins race to acquire ING Malasia
AIA has expanded its pan-Asian reach with the acquisition of ING Malaysia.
Top five Asian news stories
The top five stories from www.insuranceinsight.com over the past ten days.
GlobalOptions and IFIC Forensics form partnership
International anti-fraud investigator GlobalOptions has formed a partnership with British firm International Fire and Investigations Consultants, which provides forensic investigations for insurers, loss adjusters and solicitors.
Global insurance federation vows advocacy role
Thirty-one insurance associations representing 87% of the worldwide insurance business formally established the Global Federation of Insurance Associations today.
Manulife Maylaysia appoints new CEO
Manulife Insurance Berhad (Manulife Malaysia) has appointed George Chew as chief executive.
Indian FDI progresses, but hurdles remain
Insurers hailing the Indian cabinet's approval of a bill raising the foreign direct investment limit in insurers to 49% may be celebrating prematurely, as opposition parties could still block the bill's passage through parliament.