Asia
JLT increases revenue by 7% and unveils new transformation programme
JLT increased revenue to £880.1m in 2012 with 7% coming from organic growth and 1% through acquisitions. This was offset by 1% foreign exchange movements compared to 2011.
Jakarta braces for more floods
Emergency authorities in Jakarta are preparing for more flooding as water reached very high levels at a major dam.
Amlin returns to profit after £141m Sandy claims
Amlin has posted a pre-tax profit of £262.2m for the year ending 31 December, swinging into profit after a £193m loss in 2011.
China aims for 7.5% GDP growth in 2013
7.5% target reflects slowing economy but supports five year plan set in 2011.
Ince & Co appoints senior shipping consultant
Law firm Ince & Co has named Xu Guo as a consultant. Based at the firm’s Beijing office, Guo will provide shipping advice.
Thomas Miller boosts Asia Pacific office
Andrew Jones will become CEO of Thomas Miller (Asia Pacific), which manages mutuals, from the beginning of April.
New India targets 55 000 more agents
New India Assurance wants to more than double its agency base in India and will open three more offices overseas.
Finance Ministry approves bancassurance in India
The 2013/14 Indian Budget has confirmed banks will be able to sell insurance in India and has also given insurers the ability to open up quickly in smaller towns.
ING gains $1.24bn from sale of Asian businesses
ING has completed the sale of its Hong Kong, Macau and Thailand insurance businesses to Pacific Century Group for $2.14bn (€1.64bn).
Singapore looks to remove contract uncertainty
As the London reinsurance market discovered in the last decade, contract certainty sounds simple, but isn’t. Andrew Tjaardstra finds out the latest developments as Singapore edges closer to becoming the first Asian reinsurance market to introduce…
BMS plotting 10% growth this year, following profitable 2012
Independent broker the BMS Group has today released a 2012 trading update showing revenues in excess of £63m, up 20% on 2011.
Australian government provides AUS$100m for flood prevention
The general insurance industry has welcomed an announcement from Prime Minister Julia Gillard, Financial Services Minister Bill Shorten and Attorney General Mark Dreyfus for AUS$100m of funding over two years for flood mitigation projects.
Six balloon crash victims from HK had policy exclusions
Six of the nine people from Hong Kong who died in the tragic hot air balloon accident in Egypt had exclusions for hot air balloon travel in their policies.
South east Asia spurs Allianz profit growth
Allianz's 2012 Asia Pacific results saw an 80% profit growth and 9% increase in premiums spurred by south east Asia.
Iron ore ports close as Cyclone Rusty closes in on Australia
Cyclone Rusty is expected to bring a huge amount of rain to north west Australia and has already caused iron ore companies and ports to close.
AIA's profit hits $3bn
The Hong Kong listed insurer beat profit estimates of $2.7bn for the fiscal year ending 30 November 2012.
AIA to open office in Myanmar
Mark Tucker, the CEO of AIA, has confirmed the insurer is opening a representative office in Myanmar as AIA targets south east Asia.
Hong Kong considers more regulation of investment-linked products
The Securities and Futures Commission, government and regulators in Hong Kong want more protection for investors in investment-linked insurance products.
Indian insurers want tax breaks for personal insurance
The insurance industry in India is calling for tax breaks on personal cover such as home, personal accident and travel to help increase access to the products across the country.
Vijayan appointed chairman of Indian regulator
The Indian government has appointed T S Vijayan, former head of the Life Insurance Corporation, as chairman of the Insurance Regulatory and Development Authority.
Insurance Insight Q+A: Neil Raymond, Pacific Prime
Insurance Insight asks Neil Raymond (pictured), chief executive of Pacific Prime, about his predominantly PMI and motor broker, which trades as Kwiksure in Hong Kong, and how he wants to see insurers improve their service offering.
Autorickshaw unions in India complain about insurance hike
The Insurance Regulatory and Development Authority in India wants to increase third party premiums for autorickshaw drivers annoying autorickshaw unions.
Singapore's finance and insurance sector sees growth in Q4 2012
In the fourth quarter of 2012, year on year GDP growth in Singapore's finance and insurance sector was 3.3%, but growth deteriorated from the third quarter of 2012.
Earthquake strikes south China
A 4.8 magnitude earthquake in southern Guangdong province, on Friday morning (22 February), caused some disruption to Heyuan City, near the epicentre,and was felt in Hong Kong.