Asia
Top five Asian news stories
The top five Asian stories from www.insuranceinsight.com over the past seven days
Insurance recruitment up in Asia despite slow economy
Asia's insurance firms are still hiring despite the current economic slowdown, bucking the trend of financial services firms across the region, according to Reuters.
Head of AIG's India joint venture leaves to join Mercer
Mercer has appointed Gaurav Garg as region leader for growth markets, incorporating Mercer's businesses in Asia, the Middle East, Africa and Latin America.
Lloyd's launches jewellers' insurance in Shanghai
Lloyd's Insurance Company (China) has launched a block insurance programme designed for the diamond and jewellery trade in Shanghai.
Poor data quality and modelling tools make emerging markets risky
Reinsurers pursuing growth in emerging markets must be alert to the unique challenges these countries present, Guy Carpenter has warned.
AIA reportedly in talks with Aviva for Sri Lanka insurance arm
Hong Kong-based insurance giant AIA has reached the final stages of negotiations for Aviva’s stake in Sri Lankan insurer NDB-Aviva Insurance, according to reports in the Sri Lankan business press.
RSA enters P&I market with start-up Lodestar Marine
RSA has teamed up with protection and indemnity start-up Lodestar Marine for a new fixed premium P&I venture.
Insured losses from China quakes very low
Two magnitude 5.6 earthquakes that struck southwest China on Friday caused little to no insured losses, according to catastrophe modelling firm Eqecat.
Reinsurance market is united, says Guy Carpenter
Guy Carpenter & Company has praised the reinsurance industry for "coming of age" and finally "converging".
Profitable growth still possible, says Guy Carpenter
Reinsurers should still be targeting profitable growth, despite challenging market conditions, broker Guy Carpenter said in a Monte Carlo press briefing on Sunday.
Guy Carpenter to open Shanghai Office
Reinsurance broker Guy Carpenter has received approval from the China Insurance Regulatory Commission to open a branch office in Shanghai.
Labuan cracks down on unqualified brokers
Only certified professionals will be allowed to operate as brokers in Labuan by the end of 2013 under regulations designed by the Labuan Financial Services Authority to boost the territory’s international reputation.
GAB Robins hires former Cunningham Lindsey adjuster
GAB Robins have today announced the appointment of Maggie Cowing to the newly created position of head of major and complex loss.
Dozens killed as quake strikes southwest China
At least 43 people were killed and 150 injured after a magnitude 5.7 earthquake struck southwest China's Yunnan and Guizhou provinces on Friday, according to China Daily.
Asian weddings: An insurance dilemma
Wedding insurance is growing in India as families spend a collective $16bn on marriage celebrations. However, as Nicky Burridge reports, the chances of its spreading further into Asia look unlikely.
Asian View from the Top: Prudential insurance regulation - an evolving game-changer
Changes in prudential regulatory developments the world over are expected to have a significant impact on operational costs, the competitive landscape and the number and form of market participants in Asia Pacific.
Reinsurance CORs fall "dramatically" in H1
Global reinsurers' operating performances improved significantly in the first half of 2012, according to Fitch's latest report.
Flood losses more than doubled in past 10 years, study finds
Flood losses are increasing at an alarming rate and the insurability of floods provides unique challenges for the industry, according to Swiss Re's latest report.
Weil begins leadership of Marsh UK and Ireland
Mark Weil has taken up his previously announced appointment as chief executive of Marsh's UK and Ireland operation, Marsh Ltd, following regulatory approval.
Reinsurers showing resilience under weight of catastrophes
The top 50 global reinsurers' financial positions coming out of 2011 shows the sector's resilience through one of the costliest catastrophe years in history, according to a report by AM Best.
Asian nations could emulate Caribbean catastrophe pool
A Pan-Asian catastrophe pool could be an effective tool to mitigate the impact of natural disasters on vulnerable nations in the region, according to the Philippines finance secretary.
Reinsurers to diversify more cautiously after 2011 cat losses
Reinsurers should tread with caution when looking to diversify their operations as increased exposure in natural-catastrophe prone regions could leave them open to large losses, Standard and Poor’s said today.
PICC could delay Shanghai listing
People's Insurance Company (Group) of China may seek as much as $3bn in an initial public offering in Hong Kong in October or November while postponing a Shanghai listing, Bloomberg news has reported.
XL's environmental programme goes global
XL Group's insurance arm is launching global environmental cover for the first time.