Asia
Indian watchdog hits SKS with Rs50 lakh fine
Shares in Indian finance firm SKS Microfinance fell 2.39% after it was fined Rs50 lakh by the Insurance Regulatory and Development Authority.
Argo's head of aerospace to become underwriting director
Lloyd’s insurer Argo International has promoted Bruno Ritchie, pictured, to underwriting director.
Mitigating the ripple effect of disaster
Business interruption, natural catastrophes and fire represent the top three risks for corporates in 2013 and clients need to partner their insurers closely to develop risk management strategies says Dr Lutz Fullgraf.
IAG triples profit
Insurance Australia Group tripled its profit in the second half of 2012, the first half of its financial year.
Two day strike hits Indian economy
Hundreds of thousands of private sector and government employees are on strike in India protesting over government reforms.
Jakarta flood losses not expected to trigger solvency problems
Flooding in Jakarta, Indonesia in January expected to cause economic losses of IDR32trn (€2.46m) according to official government reports, but only IDR3trn of that is expected to be insured.
RSA increases premium by 5% and cuts dividend
RSA Group has reported operating profit of £684m (2011: £727m) for 2012 including an entirely flat underwriting result of £375m.
Northdoor launches cloud platform for Asian start-ups
UK-based IT consultancy Northdoor has launched a cloud-based system for insurance start-ups in Asia.
China readies for first online insurer
The Chinese Insurance Regulatory Commission is set to approve the first internet only insurer which will be owned by nine shareholders including internet firm Alibaba and insurer Ping An.
CCW launches dedicated HK website
Hong Kong-based broker Cooper, Claridge-Ware, has launched of a dedicated Hong Kong insurance website in order to better serve the insurance needs of the HKSAR Market.
Towers Watson adds to M&A team in Singapore
Professional services firm Towers Watson has appointed Alan Merten (pictured) as director, risk consulting & software, and a member of its Asia Pacific leadership team.
Financing the growing costs of disasters
Reto Schnarwiler, head of global partnerships for Swiss Re, Americas and EMEA says that a lack of insurance and the growing costs of disasters are hitting individuals and governments hard. He explores how government partnerships with insurers can help…
Landslides and floods in Indonesia kill 15
Seven hamlets were left devastated by landslides and floods in Manado, the capital of North Sulawesi province in Indonesia, after torrential rain.
United India Insurance targets rural retail growth
The United India Insurance chairman and managing director wants to increase premiums to 10bn rupees ($1.84bn) by the end of the fiscal year.
7-Elevens to sell insurance in Thailand
Insurance with a maximum value of 1 000 baht will be sold at 7-Elevens across Thailand.
India to insure oil refineries that trade with Iran
Despite western sanctions on Iran, the Indian government will step in to make sure its oil refineries have sufficient insurance so they continue refining crude oil imported from Iran.
Zurich GI profit falls in 2012
Zurich blames weather losses for fall in profitability, but saw increase in premiums and is confident German reserving problem was a one-off.
The attractions of Hong Kong
Hong Kong's attractions as an insurance base were highlighted in December when new reinsurer Peak Re chose to launch in the city, writes Nicky Burridge.
Insurance CEOs upbeat about Asia and the Middle East, says PWC
The majority of insurance CEOs think their businesses are going to grow over the next few years according to PWC 16th annual global CEO survey.
Market moves: Three new staff for Giles as recruitment drive continues
Continuing its push for new staff, Giles was again one of the biggest recruiters this week, with the broker welcoming three new faces to its Scottish team. Elsewhere in broking, Arthur J Gallagher, UIB and the Wilson Organisation brought in new starters…
Steady growth at Marsh and Guy Carpenter
Marsh and Guy Carpenter have both seen revenues increase for the year ending 31 December.
To re-joins JLT Re to head reinsurance in China and HK
Henry To has returned to JLT Reinsurance Brokers as chairman and chief executive officer of its reinsurance operations in China and Hong Kong.
United India sells crop insurance
Publicly owned United India Insurance is now selling crop insurance products as part of a tie-up with Agriculture Insurance Company.
RSA releases home offering in China
In response to the growing popularity of home insurance in China, RSA’s private client insurance plan is now available through Globalsurance.