Japan
Willis Re appoints Beedle CEO for Asia
Willis Re has appointed James Beedle as chief executive of its Asian operations.
Insurance Insight – top 10 stories
The top 10 most popular articles published on insuranceinsight.eu over the past seven days.
Marsh says 2011 cats demonstrated need for more cover and better policy wordings
Broker Marsh has said that the scale of catastrophes in 2011 exceeded previous loss-modelling predictions and has challenged established thinking on the nature of risk.
Integrated risk management absent in most APAC insurers
Despite strong progress in Japan, Australia, Taiwan and Singapore, most insurance companies in Asia-Pacific are still formalising their enterprise risk management governance structures.
Japanese insurers to limit tanker coverage due to sanctions
Japanese oil buyers will be forced to coordinate schedules after insurers warned they will cover only one tanker transporting Iranian oil at a time after the 1 July sanctions deadline.
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.
Insurance Insight – top 10 stories
The top 10 most popular articles published on insuranceinsight.eu over the past seven days.
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.
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.
Starr expects "rapid expansion" after gaining Japan licence
Starr Indemnity & Liability has been granted a foreign non-life insurance licence in Japan.
Insurance Insight – top 10 stories
The top 10 most popular articles on insuranceinsight.eu over the past seven days.
Iran sanctions have unintended consequences
Economic sanctions against Iran are an important part of European Union and US attempts to force the country to curb its nuclear programme. But, as Francesca Nyman reports, increasing concern has been voiced in recent months that measures aimed at the…
Energy: Overcapacity causing problems as market rates stagnate
It has been a tumultuous few years for the insurance industry, and not many sectors have been affected as much as energy.
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.
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.
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.
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.
Asian states lobby EU in hope of Iran oil sanctions U-turn
European Union foreign ministers are expected to consider how the bloc's Iranian oil embargo will affect insurers at a meeting in Brussels next week, under mounting pressure from Asian states to change their stance.
Large Tohoku aftershocks hit Japan
Insured losses from two earthquakes which occurred in Japan on 14 March will be less than $100m, according to Eqecat.
In Series Emerging Markets: Drawing on professionalism
With capital continuing to pour into Asia, talent and professionalism is an issue that the Chartered Insurance Institute is well-placed to tackle.
Aftermath of Japan earthquake serves as reality check for insurance industry
One year ago, Japan was shaken to its core by a magnitude nine earthquake. The shockwaves from Tohoku-Oki on 11 March 2011 are still causing ripples among insurers, risk modelling firms and reinsurers.