Thailand
Munich Re reports €0.71bn profit despite major losses
Munich Re reported a profit of €0.71bn for 2011, despite major losses and against the backdrop of the Eurozone crisis.
Q&A Asia: Generali
As part of Insurance Insights new remit to cover Asia, Assicurazioni Generali’s deputy general manager Valter Trevisani (pictured) spoke to Francesca Nyman to discussed the insurer’s plans there.
Japanese insurance giant plots merger
NKSJ Holdings, Japan's third-largest general insurer, is planning to merge its two main units, Sompo Japan and Nipponkoa Insurance, according to report.
Zurich's 2011 cat losses may trigger aggregate reinsurance
Zurich Financial Services expects the impact of the floods in Thailand and the increased cost of the earthquakes in New Zealand in the fourth quarter of 2011 to range between $200 and $250m (€189.9m).
Thai insurance giant seeks 20% growth in 2012
Muang Thai Life Assurance is seeking to expand its business by more than 20% to 40bn baht (£800m) this year, according to reports.
Reinsurers reluctant to cover Thai cat fund
Global reinsurers may be reluctant to cover the recently announced Thai catastrophe fund if asked to by the nation’s government, according to market analysts.
Fairfax takes 25% Thai Re stake
Financial services company Fairfax is to acquire approximately 25% of the issued and outstanding shares of Thai Re in a deal worth approximately $70m.
Thai cat fund given green light by regulator
The Office of Insurance Commision, Thailand’s insurance regulator, has passed a resolution to establish a 50bn baht (€1.2bn) catastrophe fund for floods, windstorms and earthquakes.
Q&A Asia: Ageas
As part of Insurance Insight's new remit to cover Asia, Ageas's chief executive officer Gary Crist(pictured)spoke to Francesca Nyman to explain the insurers reach in the region.
Q&A Asia: JLT
As part of Insurance Insights new remit to cover Asia, Jardine Lloyd Thompson Asia’s chief executive officer Warren Merritt (pictured)spoke to Francesca Nyman to discussed the broker’s plans there.
Insurers reveal Thai flood losses
Bermuda-based Arch Capital Group has said it expects the company’s 2011 fourth quarter results to be negatively impacted by the severe flooding in Thailand.
More M&A expected in Thailand after reinsurers review flood losses
Heavy losses from Thailand’s recent floods are dampening the appetite of global reinsurers to write business in the region.
AM Best affirms Asia Capital Reinsurance Group FSR
Asia Capital Reinsurance Group has had its financial strength ratings affirmed along with core subsidiaries.
IAG secures multi-year reinsurance protection
Insurance Australia Group has finalised its catastrophe reinsurance programme for the period commencing 1 January 2012, encompassing protection of up to $4.7bn ($3.63bn), compared to $4.1bn in 2011.
Ferma members voice concerns over supply chain management
Commercial insurance buyers generally want better insurance products to cover their supply chain risks, a simple survey by Ferma has confirmed.
Labauan Re warned over rated action due to Thai flood losses
AM Best has placed under review with negative implications and affirmed the financial strength rating of A- (Excellent) and issuer credit ratings of “a-” of Labuan Reinsurance.
Ace dental plan gains foothold in Asia
Ace Asia Pacific, part of global (re)insurer Ace Group, has extended its Ace Dental Care plan to several Asian countries.
Scor expects €140m in Thai flood losses
French reinsurer Scor estimates its losses from the floods in Thailand at €140m net of retrocession and before tax.
Partner Re to take $88m charge from Tohoku quake
PartnerRe is set to record a charge of approximately $88m (€67.2m) to reserve the full limit of its Tohoku Earthquake exposure related to its largest Japanese cedant.
2011 nat-cat insured losses reach $108bn
Total insured losses for the global insurance industry from natural catastrophes and man-made disasters reached $108bn (€83bn)in 2011 according to Swiss Re.
Japanese non-life sector stable, Fitch says
The outlook for the Japanese non-life insurance industry is stable, underpinned by a recovery in the core automobile business line, according to a new Fitch report.
Thai floods: Insured losses creep up
Global reinsurance broker Aon Benfield has estimated the insured losses from the floods in Thailand could be at least US$4.6bn.
$3bn Thai flood losses set to escalate as city centre inundation begins
Loss adjusters have told Post there is a “whiff of Katrina” about the Thailand floods, following predictions the disaster could cost more than the estimated $3.3bn (£2.1bn) insured losses.
Lamp lines up ABS targets as Thai operation opens
Gibraltar-based legal expenses and private medical insurer Lamp is targeting $500m (£305m) premium in the first two years of its new Thailand operation.