Asia
Global power industry sees rising claims
The global power industry continues to see a steady rise in the number of large insured claims, putting pressure on the supply of global power at a time of rising demand and on the future of the industry itself, broker Marsh said a report published today.
Chinese market must target sustainable growth
After a period of rapid expansion, the Chinese insurance market must adjust for sustainable and healthy growth, according to a report by AM Best.
Towers Watson scores Willis hedge fund portfolio
Willis has selected pensions consultancy Towers Watson to manage a large portion of its hedge fund portfolio on a fiduciary basis, following a competitive tender.
Cooper Gay offers free RM and BC service to terrorism clients
Intermediary Cooper Gay & Co is offering a free crisis management and business continuity consultation to its terrorism and political risks policyholders.
ALC Health launches claims monitoring service for customers
International private medical insurance provider ALC Health has launched an online member service that allows policyholders to check details as well as submit, manage and monitor claims 24 hours a day.
Kalista offers parametric catastrophe trigger for property
Bermuda-based Kalista Global has launched a property insurance product ahead of the January renewals with specific parametric catastrophe triggers to ensure savings.
"Essential" FDI could raise Rs 30,000 crore, says India's regulator
Raising the cap on foreign direct investment in Indian insurers could attract Rs 30,000 crore to the industry, India's insurance regulator has said.
IRDA plans to approve 10 standard insurance products
India's insurance regulator plans to develop 10 standard products which can be launched by insurance companies without seeking regulatory approval.
Legal services insurers in pole position to meet new generation's needs
Insurers are ideally placed to take advantage of the changing market environment, according to the new president of the International Association of Legal Protection Insurance (RIAD).
India's cabinet approves FDI hike
India's government has approved the long-awaited increase in the cap on foreign direct investment in Indian insurers.
William Russell alters Hong Kong claims process
International expatriate insurance provider William Russell has changed its out-patient claims procedure for Hong Kong-based clients.
MS Frontier Re to open Malaysian office
MS Frontier Re plans to establish a new branch office in Malaysia subject to regulatory approval to service its clients in Asia and Oceania.
Hyundai Marine & Fire scores ratings upgrade
South Korean insurer Hyundai Marine & Fire has had its financial strength rating upgraded to 'A' from 'A-' by AM Best.
Ace launches property offering to fill terrorism gap
Ace Group has launched a property insurance proposition designed to cover the gaps between traditional property, terrorism and political violence insurance policies.
Munich Re chief laments China's poor rate of quake cover
Nikolaus Von Bomhard has implored China to create a public-private partnership to provide earthquake protection for businesses and citizens in the country.
Tune Group plans to float insurance arm
Malaysia's Tune Group, a conglomerate owned by AirAsia Bhd's founders, is to list its insurance arm to fund overseas expansion.
Top five Asian news stories
The top five Asian news stories from www.insuranceinsight.com over the past seven day.
Hong Kong and Taiwan seek insurance cooperation
Hong Kong and Taiwan are negotiating cooperation agreements on insurance regulation and arbitration, it emerged last week.
Air Worldwide expands in Asia-Pacific with Singapore office
Air Worldwide is opening an office in Singapore to meet the expanding needs of clients in the Asian insurance market.
Kiln appoints Garland as chief operating officer
Kiln, the international specialist insurance and reinsurance underwriting group and part of Tokio Marine, announced today that it has appointed Denise Garland as chief operating officer.
Indian regulator supports raising FDI cap
India's insurance regulator has echoed calls from insurers to raise the country's foreign direct investment cap to 49% from 26%, saying the injection of foreign funds would benefit the country's insurance industry.
Perception of insurance changing with next generation of Kazakhstanis
After being negatively affected by the global financial crisis Kazachstan's insurance market has enjoyed a strong recovery over the past two years which is continuing into 2012, according to a report by AM Best.
AIA wins race to buy Aviva's Sri Lanka insurance arm
British insurer Aviva has accepted a bid from AIA group subsidiary, American International Assurance Company, for its 58.44% interest in Aviva NDB Holdings Lanka for £31m.
Aviva sells Sri Lanka business
Aviva is to sell a controlling interest in its Sri Lankan operation to American International Assurance.