Asia
Former Citibank broking boss joins Howden Asian board
Howden Broking Group, the broking arm of Hyperion Insurance Group, has recruited Brian Dallamore as an advisor and consultant in Asia.
Market moves: Fresh faces for underwriters
As the industry heads into December, underwriting agencies and insurers lead the way in the job market. This week saw major moves at Chubb, More Than and Travelers, while Evolution, Arista and Ink all welcomed new staff. It was another slow week for…
Cigna finalises acquisition of First Assist
Cigna has finalised the acquisition of First Assist Insurance Services following regulatory approval from the UK’s Financial Services Authority in late October.
Chinese insurance giant PICC P&C unveils HK$6.13bn IPO plan
Chinese insurance group PICC Property and Casualty has nnounced plans to raise HK$6.13bn through a listing on the Hong Kong Stock Exchange.
Taiwan's insurers urged to stop lending securities for shorts
Taiwan’s regulators have urged insurers to stop lending securities to short sellers seeking to bolster equities after the Taiex Index slumped.
Thai flood supply chain losses could reach $20bn
The majority of insurance losses from the Thai floods will come from manufacturing and supply chains and could reach $20bn according to AM best.
Catlin and China Re deal predicted to be catalyst for Lloyd’s investment
The “landmark” strategic partnership between Catlin and China Re is expected to be a catalyst for a boom in Lloyd’s investment from insurers in emerging economies.
China may be location of next big supply chain disaster, says AM Best
A webinar by ratings service firm AM Best is questioning whether China is the next supply chain disaster in the making, given the high level of supply chain exposure in the East Asian country.
JLT Re recruits MD for Asia Pacific expansion
JLT Reinsurance Brokers has appointed Stuart Beatty as managing director, Asia Pacific, JLT Re Fac.
Keeping pace with the evolution of risk
In the last 18 months, risk managers have faced a complex set of challenges.
Catlin and China Re join forces to create special purpose syndicate
Lloyd’s reinsurer Catlin has formed a strategic partnership with China Reinsurance Corporation, the country's only state-owned reinsurance group.
Lloyd's director encouraged by growth of Chinese broking sector
China offers commercial and reinsurance brokers a great opportunity for growth, although the role of local players may ultimately outstrip the international names.
Bancassurance growth outstrips traditional models in Asia
The growth of the Bancassurance model is outstripping that of agents in many parts of Asia according to Joyce Chan.
Chinese motor market tipped to open up to international players
The Chinese motor market could offer great opportunities for international insurers if local legislation is relaxed next year.
AM Best warns of Thai floods hitting BI
AM Best has warned that Thailand’s ongoing flood disaster will trigger significant commercial and business interruption losses to manufacturing and supply chains in global markets.
Proposal seeks to lift China's foreign motor insurer ban
China may be set to lift the exclusion on foreign insurers selling compulsory motor insurance in the region.
Howden acquires Accette’s Asian operations
Broker Howden has acquired the insurance operations of Accette Insurance Group in Hong Kong, Singapore, Thailand, Malaysia, and the Philippines.
European conditions challenging for JLT
Jardine Lloyd Thompson Group has reported it remains on track to achieve its objectives and deliver year-on-year financial progress.
Hyperion completes acquisition
Howden Broking Group, the broking subsidiary of Hyperion Insurance Group, has completed the acquisition of the insurance operations of Accette Insurance Group in Hong Kong, Singapore, Thailand, Malaysia, and the Philippines.
Now Health introduces currency flexibility for Europe
Private medical insurance provider Now Health International, has introduced a flexible currency facility for customers in Europe, the Americas, Africa and Asia Pacific.
Financial market volatility hits Swiss Re’s core combined ratio
Swiss Re saw the combined ratio for its property and casualty segment increase to 80.8% for the third quarter of 2011 due largely to financial market volatility.
Thai floods: Central Bangkok spared
The worst of the Thailand flooding is over but insurers will have to pay “significantly large business interruption costs”, according to Fitch Ratings.
Thai floods: Insured losses to be "managable", says Fitch
Insured losses from the Thailand floods will be “manageable” at $4.5bn and not trigger widespread solvency problems, or undue financial strain for the country’s non-life insurance players, according to Fitch Ratings
Editor's comment: Maelstroms on multiple fronts
This week has seen maelstroms on multiple fronts. As the devastation and mass fatalities caused by the Turkish earthquake continue to dominate news headlines, the insurance industry is bracing itself for a different bout of turmoil prompted by another…