Asia
Non-life premiums may fall amid China's economic slowdown
China's economic slowdown may lead to reduced premium income for the region's non-life insurance market, according to a senior industry figure.
Red 24 to brief CNA clients on kidnap risk
US commercial insurer CNA has appointed crisis response firm Red 24 to provide advice and response for kidnap, ransom and extortion.
Indonesia quake could cause premium hikes
Aftershocks from yesterday's 8.6 magnitude earthquake in Indonesia may lead to cover restrictions and premium and deductible increases, according to industry sources.
Mitsui Sumitomo to acquire 26% stake in New York Life
Japan's largest casualty insurer plans to acquire a 26% stake in Max New York Life Insurance Co to expand its business in the Indian insurance market.
Insured losses from Sumatra earthquake 'not significant'
Yesterday's 8.6 magnitude earthquake in Indonesia is not expected to cause significant insured losses, according to catastrophe modelling firm AIR Worldwide.
AIA Group rejects Singapore move to fee-based model
Proposals to end commission-based remuneration for insurers in Singapore have been criticised by one of Asia's largest insurance firms.
CIRC to tighten capital adequacy supervision
China's Insurance Regulatory Commission is to bolster its supervision of the insurance industry over the next few years to ensure that insurers are able to pay claims.
State-backed cover for Iran shipments likely, says Chinese shipping group
Government-backed insurance coverage for oil shipments from Iran is highly likely, according to China's largest sea-cargo carrier.
India's foreign direct investment u-turn hits IPO plans
The Indian government's move to defer the easing of foreign direct investment in insurance will scupper the plans of large companies considering initial public offerings and may push consolidation, according reports in the Indian press.
500 million microinsurance schemes worldwide, says report
The number of microinsurance schemes has reached an estimated 500 million worldwide, according to the Microinsurance Innovation Facility and the Munich Re Foundation.
Japanese insurers' revenues rise after surge in quake policies
Japan's five major insurance companies experienced year-on-year increases in premium revenue during the 2011 fiscal year, according to Japanese publication The Daily Yomiuri.
State-provided cover needed to insure China's crude supplies
Tankers carrying Iranian oil will not be fully covered by Hong Kong marine insurers after EU sanctions take effect from July, an industry official told Reuters.
Microinsurance up as insurer interest rises
Microinsurance schemes worldwide now reach an estimated 500 million people.
Asian aviation: risk or opportunity?
The Asian aviation market is set to grow rapidly in the next 20 years, bringing many opportunities for insurers. But Edward Murray asks whether underwriters are taking all the future risks into consideration.
The challenges of the solar market
Solar power is a firm part of the green movement in Europe but, with government cuts becoming increasingly common, Jakki May asks whether this renewable energy will continue to be affordable and efficient.
Countdown to ISA: Q&A with Aviva's Simon Machell
Simon Machell, chief executive of Aviva Asia Pacific, will be part of the panel debate on The outlook for insurance in Asia at Insurance Strategy Asia taking place in Hong Kong on Tuesday 29 May.
China's P&I club halts cover over Iran sanctions
A major Chinese ship insurer will halt indemnity cover for tankers carrying Iranian oil from July, dealing a blow that narrows the insurance options for Tehran's main export already constricted by payment barriers caused by Western sanctions.
Reinsurance rates in Asia Pacific rise at 1 April renewals
The major renewal date for the Asia Pacific region saw reinsurance rates increase as the market continued to work through the impact of the events of 2011, according to a briefing by Guy Carpenter.
Guy Carpenter reports reinsurance rises
Research by Guy Carpenter shows reinsurance rates rose at the 1 April round of renewals as the market continues to work through the impact of the events of 2011.
Willis appoints new CEO for Japan retail
Willis Group has appointed Yoshihide Enomoto as president and chief executive of its retail brokerage business in Japan.
Middle East and Asia energy markets buoyed by excess capacity
Competition and excess capacity continued to strengthen the market for energy insurance buyers in Asia and the Middle East in the first quarter, according to a Marsh energy report.
Starr expects "rapid expansion" after gaining Japan licence
Starr Indemnity & Liability has been granted a foreign non-life insurance licence in Japan.
Paton eyes international growth at DAC Beachcroft
Incoming DAC Beachcroft claims solutions group chief executive Bill Paton has vowed to use his "extensive" contacts across the world to grow the law firm's presence in the Asia Pacific and Latin America markets.
Indian insurers praise deductibles hike
An increase in deductibles for third-party motor premiums by the Insurance Regulatory and Development Authority has been praised by the insurance industry, despite frustrating consumers.