China
Claims Conference Asia: A CCTV on fraud
Ahead of the Claims Conference Asia 2014 Andrew Tjaardstra, editor, Asia, Post interviews Chris Fordham, managing partner, fraud investigation & dispute services, Asia-Pacific, EY and Jack Jia, director, fraud investigation & dispute services, EY at EY’s…
China regulator warns insurers on reputational risk
The China Insurance Regulatory Commission has issued a directive that insurers need to include reputational risk management in their risk management framework.
Europe: Pet insurance opportunities
With around $1bn premium volume, the pet insurance market in the UK is by far the world's biggest - but increasing competition and rising vet fees over the past few years have seen what was once fertile ground become a highly contested area, with a large…
Senior claims specialist moves from AIG to Allianz in Hong Kong
Patsy Wong has been recruited by Allianz Global Corporate & Specialty as head of long tail claims for Hong Kong and Greater China.
Axa completes 50% acquisition of Tian Ping
Axa has completed the 50% acquisition of Chinese insurer Tian Ping's shares.
Majority of Chinese firms reduced payment times in 2013
According to trade credit insurer Euler Hermes, seven out of ten Chinese companies increased their turnover in 2013, with six out of ten firms reducing their outstanding payment days.
UK customers among least loyal on home and car insurance
UK insurance customers are among the least loyal to their car and home insurance providers, according to new figures from Accenture.
Chinese insurers investing heavily in Australian property
Chinese insurers are set to ramp up investment in Australian commercial property by 30% this year.
Hong Kong culls 20 000 chickens after bird flu discovered
20 000 chickens in Cheung Sha Wan wholesale market in Kowloon, Hong Kong are being killed on 28 January after H7N9 bird flu was discovered.
China Pacific in line for bumper 2013
China Pacific Insurance (Group) has said it expects profits to have jumped 80% in 2013.
EY identifies 'rapid-growth' markets for insurers
According to EY's latest report, China, Mexico, Indonesia, Thailand and Columbia will provide insurers with long-term growth opportunities.
China's insurers double profits
In 2013, China's insurers more than doubled profits last year to 99.1bn yuan ($16.4bn). Total profits grew by 112.5%, according to the China Insurance Regulatory Commission.
Euler Hermes achieves AA- Chinese credit rating
Euler Hermes has become the first European insurer to be rated by Chinese credit rating agency Dagong.
China tightens bancassurance rules
The China Banking Regulatory Commission and China Insurance Regulatory Commission are introducing more rules to help protect consumers for when banks sell them insurance products.
Hong Kong 'could become reinsurance centre'
Speaking at this week's Asian Financial Forum, China Investment Corporation (Hong Kong) chairman Laurence Lau Juen-yee said Hong Kong could develop into a reinsurance hub by utilising the large capital pool of the mainland.
Zurich eyes bancassurance in Malaysia
Zurich has signed a memorandum of understanding with the Bank of China to explore bancassurance opportunities in Malaysia.
China's Fosun buys Portuguese insurer
Fosun International of China has acquired an 80% stake in Caixa Seguros e Saúde, the insurance arm of Portugese state bank Caixa Geral de Depositos SA for €1bn ($1.36bn), beating out Apollo Management International.
C-Suite Asia: Asia-Pacific to grow solidly
An economist at Euler Hermes explains how the Asia-Pacific region should be the best global performer for insolvencies in 2014, but that rebalancing and lower growth in China are likely to bring possible risks to the economic outlook.
Moody’s predicts strong growth for Asian P&C market in 2014
Ratings agency Moody’s is predicting strong growth in the Asian property and casualty insurance sector for 2014 with moderate growth forecast for the European region.
China sets up first marine insurance association
China has launched its first professional marine insurance association called the Shanghai Institute of Marine Insurance.
AIA pens 15 year 11 country deal in Asia-Pacific with Citibank
AIA and Citibank have reached a huge 11 country 15 year bancassurance distribution agreement for life and health insurance products at Citibank's 600 strong Asia-Pacific branch network.
Mixed outlook for Chinese general insurance market, says Fitch
Fitch Ratings believes China's continued urbanisation and rising household wealth will sustain the growth dynamics of its general insurers, but says intense rivalry will further weaken the sector's underwriting margin in 2014.
Hong Kong premiums grew 14% in first nine months of 2013
Statistics from Hong Kong's Office of the Commissioner of Insurance indicate the SAR's total gross premiums to the end of Q3 amounted to HK$216.8bn ($28bn), representing an increase of 14% over the same period in 2012.
Chinese catastrophe insurance scheme "to be launched within a year"
Moody's expert suggests Chinese social security reforms will help launch a government backed catastrophe scheme by the end of 2014.