Asia
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.
Taiwan allows insurers to invest in foreign stocks
Taiwan has passed a regulation allowing insurance firms to invest in overseas stocks, provided they meet certain risk-based capital criteria.
Paperwork delays payment of Thai flood claims
Japanese firms waiting for claims payment following the flooding in Thailand face delays owing to the volume of paperwork for insurance companies.
Industrial assets underinsured by up to 60% in Asia
Telecommunications, energy and petrochemical companies are underinsuring their industrial assets by 30% to 60% in Asia, according to a new report by Marsh, and John Foord, an industrial asset valuation firm in Asia.
MAS enhances Singapore's capital framework
The Monetary Authority of Singapore is to consult on enhancing the country's risk capital framework.
Insurers lose $116bn but play key role in disaster recovery
Despite insurers incurring the second largest losses ever at $116bn in 2011 the industry weathered 2011 well, according to the latest Swiss Re Sigma study.
Philippines Insurance Commissioner promotes benefits of microinsurance
The Philippines Insurance Commissioner has urged members of the public to buy microinsurance to prepare for the future.
Deductibles distrust blamed for Thailand's high motor premiums
A reluctance to apply deductibles may be keeping Thai motor premiums unnecessarily high, according to the country's General Insurance Association.
China considers domestic shipping system to protect oil imports
China may create an integrated shipping system for imported oil via cooperative agreements among state-owned shipping lines, refineries and insurance bodies, with the goal of ensuring energy security.
Malaysia sees improvements in corporate governance
Malaysia's quest to improve corporate governance in banks and insurance companies is seeing results, according to Malaysian news publication The Star.
Shipping sector faces new risks 100 years on from Titanic disaster
To mark the centenary of the Titanic sinking, Allianz Global Corporate and Specialty has recorded what it views as the biggest risks to the shipping industry today.
Declined risk pool aims to reduce losses for India's motor sector
The Insurance Regulatory and Development Authority's decision to implement a declined risk pool system for third-party motor insurance is likely to reduce the losses for Indian insurers, according to industry insiders.
Sompo Japan and Nipponkoa merge to create global P&C firm
Japanese non-life insurers Sompo Japan Insurance and Nipponkoa Insurance are to merge into a single company in the first half of the 2014 financial year.
South Asia slow down: is this a blip or the new normal?
South Asia is probably the region of the world most acutely aware of the interconnectedness of growth prospects across countries in the developed and developing world.
Charles Taylor Consulting set for expansion
Speaking to Post after the release of its results, group chief executive officer David Marock said that the company is looking to expand in Latin America and Asia.
IRDA scrutinises bank stakes in Indian insurers
Equity tie-ups between Indian insurers and their bancassurance partners are coming under scrutiny from India’s insurance regulator.
Chinese government tightens insurance supervision
Administrators at Chinese state-owned insurance companies have been brought under higher-level supervision owing to the promotion of senior industry figures.
ISE 2012: Luzzi says firms must think in global terms
Opening the inaugural Insurance Strategy Europe event Jorge Luzzi, president of the Federation of European Risk Management Association and director of group risk management at Pirelli, told delegates that a global view is essential going forward.
European sovereign debt hits insurer profits
2011 was the worst year on record for natural catastrophes, yet it was cracks in the Dow Jones, faults in the FTSE and tremors on the Hange Seng that bothered many insurers more.
Starr expands in APAC with Singapore direct licence
Insurance and travel assistance group Starr Companies has been granted a direct general licence from the Monetary Authority of Singapore to operate as a direct insurer in the republic.
AIR and RMS agree multi-year data sharing deal
Rival catastrophe modelling firms AIR Worldwide and Risk Management Solutions have formed an agreement to share exposure data schemas, in response to the growing numbers of clients using multiple models.
Insurers in Philippines fight proposed capital hike
Insurers in the Philippines have locked horns with the country's Department of Finance over proposals to increase the capital requirements for insurers to P1bn (€17m) by 2016.
Quake policy uptake in Japan increases 17.5%
Analysts have noted a surge in the uptake of quake policies in Japan following the Tohoku earthquake last year.
Thai Re gets THB7bn capital injection
Thailand's largest domestic insurer, Thai Re, has successfully raised equity of THB7bn with the support of shareholders and a new strategic investor.