Asia
India to investigate 'womb removal' insurance scam
The Indian state of Chhattisgarh is investigating reports that thousands of women had unnecessary hysterectomies so that hospitals could make insurance claims, the BBC reported yesterday.
SSP wins major bancassurer deal in Asia
Insurance systems provider SSP has signed a major bancassurer deal in Vietnam.
China Property & Casualty Reinsurance to use AIR catastrophe models
China Property & Casualty Reinsurance Company has licensed AIR's typhoon, earthquake and multiple-peril crop insurance models for China to better manage its catastrophe risk.
70% of insurers see Asia as a 'very important' area for growth
Most CEOs recognise the importance of Asia, but concerns remain about regulation and the macro-economic environment.
Braemar Techincal Services appoints new Singapore MD
John Harris has been appointed managing director at loss adjusting firm Braemar Technical Services in Singapore.
Private-public partnerships key to improving India's healthcare
The private sector has an important role to play in helping India achieve its goal of universal healthcare, senior figures said at a recent health conference.
Japan flooding threatens rice crop
Heavy rainfall in south west Japan has caused widespread flooding and mudslides.
AIR launches cyclone model for India
Catastrophe modeling firm AIR Worldwide has released a cyclone model for India.
Nat-cat losses dip below average for first six months of 2012
Natural catastrophe losses for the the first six months of 2012 were $26bn, well below the six-month average of recent years, according to Munich Re.
Flash flooding hits south west Japan
Intense rainfall in south west Japan has resulted in flash flooding and landslides, according to catastrophe modelling firm RMS.
Huge opportunities for anti-fraud measures in China, says FICO
Chinese non-life insurer Huatai was hailed as a pioneer this week after it became the first insurer in the region to deploy insurance fraud protection. John Chen, managing director of FICO, which provided the anti-fraud solution, spoke to Insurance…
ICICI Lombard launches health product to provide comprehensive care for families
ICICI Lombard General Insurance Company, India's largest private sector general insurance company, has launched its new Health Care Plus policy.
Private equity firm named as ING bidder
Private equity firm Blackstone Group is teaming up with Mark Wilson, former head of AIA Group, and other investors in a bid for ING's Asian insurance business, according to Bloomberg's Businessweek.
Ace launches new home protection product in Asia
Ace Insurance has launched a new home insurance product in Malaysia and Indonesia.
Iranian crude finds Asian buyers despite insurance sanctions
Iran is still shipping oil to China, and Japan looks likely to resume imports in August, as Iran continues to circumvent Western sanctions on ship insurance, Reuters reported.
Thailand ceases issuing new insurance licences
Foreign investors wishing to enter Thailand’s insurance market are to be denied new licences for at least five years as the country targets a staggered liberalisation of the financial services sector.
Europe's banks increasingly reliant on structured credit insurance
European banks are using structured credit insurance to remain active in the Asian trade finance market while deleveraging their trade finance portfolios, according to Marsh.
Banks turn to credit insurance in Asian market
European banks operating in emerging markets are increasingly using structured credit insurance as a way of remaining active in Asian trade finance market and deleveraging their trade finance portfolios.
IAG to spend £66m on Asian market
International Australia Group has set aside £66m to acquire businesses in Asia in a bid to boost its gross written premium contribution to 10% by 2016.
Jubilee General Insurance Pakistan assigned B++ rating
AM Best has assigned a financial strength rating of B++ (Good) and issuer credit rating of BBB to Pakistan's Jubilee General Insurance Company.
India's Bhartiya Janata Party continues to oppose FDI increase
Hopes of India's foreign direct investment ceiling being raised have been dashed once more after the opposition Bhartiya Janata Party pledged to vote against any bill that proposes raising the 26% limit.
IAG's Asian investment paying off
Insurance Australia Group is starting to gain "real traction" in Asia, according to chief executive Mike Wilkins.
BMS snares Kerr to lead Apac push
Independent broker BMS Group has poached Australia-based facultative broker Glenn Kerr from Aon Benfield.
Labuan Re ratings affirmed after capital raising
AM Best has affirmed the financial strength rating of A- (Excellent) and issuer credit rating of 'A-' for Labuan Reinsurance.