Asia
Law change in Japan could override policies
New insurance regulations in Japan could inadvertently heighten the industry's exposure to the Japanese earthquake and tsunami damage and, in some cases, override existing policy wordings, according to a specialist lawyer.
Mapfre and Mitsui extend co-operation agreement
Insurers Mapfre and Mitsui Sumitomo have extended their existing co-operation agreement to include reinsurance and risk consulting services.
Arthur J Gallagher acquires Singapore broker
Arthur J Gallagher has confirmed the opening of a new representative office in Singapore through the acquisition of ITI Solutions, a specialist broking house.
View from the top: A very bad year
Despite reinsurers' initial talk that the Australian floods and the New Zealand & Japanese earthquakes were earnings — not balance sheet — events, and there would be no impact on rates, the chatter has changed recently, with some now actively hinting at…
Interview - Tim Coles: up and at it
After serving in the army, Tim Coles, chief executive of Howden, found fresh excitement in the world of insurance. Mairi MacDonald talks to him about the company's unique attitude and his plans to grow the business further.
QBE sets sights on $5bn PCM target
QBE Europe's property, casualty and motor division has set its sights on becoming a $5bn (£3.03bn) business by the end of 2015. Ash Bathia, PCM chief underwriting officer, said the business is growing from its current premium level of $2.7bn, while still…
Marsh insurance arm sees 21% Q1 growth in Latin America
Marsh & McLennan's risk and insurance services revenue increased 10 percent to $1.6bn in the first quarter of 2011, or 4 percent on an underlying basis, it announced today.
JLT "positive" on start to 2011 after Asian account wins
The year to 27 April has started "positively", JLT reported today, with increased contributions from its businesses in the faster growing economies and, in particular, a number of notable new accounts won in Asia.
Generali granted Vietnamese licence
Generali is to begin operating in Vietnam after the Vietnamese Ministry of Finance granted Generali Group managing director Sergio Balbinot a licence to run life insurance operations in Asia’s second fastest growing economy.
Beazley boss still expects mid 90s COR despite major losses
Lloyd's insurer Beazley this morning said premiums reduced by 3% to $426m (2010 $438m) in the first three months of 2011, with premium rates on renewal business decreasing by 1%.
Fitch affirms Ageas Holding and operating companies
Fitch Ratings has affirmed AG Insurance's Insurer Financial Strength (IFS) rating at 'A+' and long-term Issuer Default Rating (IDR) at 'A'.
Markel appoints Asia CUO
Markel has named current London senior underwriter Mark Warrilow as the new chief underwriting officer of Markel International Singapore.
Willis: sufficient coverage harder to retain in politically volatile regions
A report from Willis has revealed that companies operating in politically volatile regions of the world may soon struggle to retain sufficient insurance coverage to protect their assets and staff.
Marine piracy at all time high, with Somalia leading hot spot in Q1 2011
Piracy at sea hit an all-time high in the first three months of 2011, with 142 attacks worldwide, the International Chamber of Commerce International Maritime Bureau’s global piracy report revealed today.
Aon Benfield enters partnership to boost typhoon research
Aon Benfield has entered into a strategic partnership with Shanghai Typhoon Institute of China Meteorological Administration to boost typhoon research in China and deliver relevant research to the insurance industry.
Overseas focus - China: a market of opportunity?
With an enormous population and low insurance penetration, China should be a market ripe for entering. Jakki May finds out it isn't as simple as it sounds but reveals an appetite for change and growth.
Markel granted China approval
Property and casualty insurance firm Markel has received permission to establish a representative office in Beijing.
Energy insurance prices stagnate as capacity reaches all-time high
Energy insurance prices have stagnated following the massive Tohoku earthquake in March, according to a new report by Willis Group.
Japan tsunami warning lifted
A tsunami warning issues in Japan yesterday after a 7.4 magnitude earthquake struck off the coast of the country was lifted after 90 minutes.
Tsunami fears after latest Japan quake
A tsunami warning has been issued for north-eastern Japan after an earthquake with a magnitude of 7.4 struck off the east coast of Honshu, according to reports.
Litigation fears in wake of NZ quake
The New Zealand earthquakes in September 2010 and February 2011 have left some brokers and insurers at risk of litigation, the chief executive of Cunningham Lindsey's New Zealand operation has warned.
RSA names Hong Kong CEO
RSA has appointed Singapore country manager Chris Colahan as its new Hong Kong chief executive.
Samsung's Europe venture gains A rating
AM Best Europe has assigned a financial strength rating of A (Excellent) and issuer credit rating of ‘a’ to Samsung Fire & Marine Insurance Company of Europe.
Q1 nat-cats to cost Zurich $500m
Zurich has estimated that aggregate claims of approximately US$500m for the five natural disasters to hit the Asia-Pacific region since the beginning of the year.