Asia
Happy Year of the Snake
China is a place where feng shui masters are taken seriously. They are all over the newspapers at the moment declaring what the Year of the Snake will mean for the stockmarket and your love life.
Lockton expands in Australia
Lockton has expanded in Australia with the purchase of Melbourne-based niche insurance broker Strategic Insurance & Risk Solutions.
Hong Kong Federation of Insurers warns of over-regulation
A senior member of the HKFI wants important changes made to the proposed remit of the new Hong Kong independent regulator, as the industry moves away from self-regulation.
Australia claims in 2013 top AUS$670m
Four disasters across Australia in 2013 are expected to cost insurers more than AUS$670m as claims continue to come in.
Scor sees 48% growth in Asian treaty business at January renewals
During the January renewals, Scor Global P&C has reported a 9% increase in gross written premiums (to Euro 2.507bn) with an expected 1.3% improvement in technical profitability for total contracts renewed and a price rise of 1.9% net of general inflation.
Aviva axes Matthews in leadership reshuffle
Aviva has moved to restructure its top tier in a move that sees its executive director of developed markets Trevor Matthews depart.
Former UK GI CEO McMillan to become Aviva Europe boss as Trevor Matthews quits
David McMillan has been appointed CEO of Aviva Europe.
Will sub-brokers in India make a difference?
Neera Bhardwaj asks if the expected allowance of sub-broking in India will really shake up the retail insurance landscape.
Indonesia begins tsunami shelter construction
The Indonesian government has allocated 16 trillion rupiah ($1.6bn) to build shelters and support areas that are early affected by tsunami-related disasters.
Asia View from the Top: Vietnam in race for quality
Demographic changes, increased education and legal compulsion are factors combining to help support the expansion of insurance and financial services in Vietnam.
Allianz appoints Hong Kong CEO
Mark Mitchell will take on the CEO role of Allianz Global Corporate and Specialty Hong Kong branch with responsibility for Greater China on 14 February.
Lockton's former Singapore CEO to join RSA
Nick Garrity, formerly CEO for Lockton Singapore, is set to join RSA with Manan Sagar taking over as CEO at Lockton Singapore.
Indonesian bank eyes selling insurance at its branches
Bank Rakyat Indonesia is considering selling insurance to its 40 million customers via its 4 000 branches across Indonesia.
Powerful earthquake strikes near Solomon Islands
A magnitude 8.0 undersea earthquake near the Solomon Islands led the Pacific Tsunami Warning Centre to issue tsunami alerts for a host of countries although they have since ended with the threat passing.
Hong Kong Federation of Insurers slams fine proposals on sales reps
The insurance body has submitted a report to the Financial Services and the Treasury Bureau outlining its concerns over proposed fines of up to HK$10m under a new regulator.
Kiln strengthens underwriting teams in Singapore and Hong Kong
As Lloyd's insurer Kiln grows in Asia, it has appointed two senior underwriters in Hong Kong and Singapore for marine and aviation.
Kiln bolsters Asian underwriting team
Kiln has appointed Joyce Fung as a marine liability underwriter in Hong Kong and Graham Oddie as an aviation underwriter in Singapore.
Munich Re profit quadruples in 2012 to €3.2bn
Munich Re’s preliminary figures show a profit of €3.2bn for 2012 (2011: €0.71bn).
Munich Re profit quadruples in 2012 to €3.2bn
Munich Re’s preliminary figures show a profit of €3.2bn for 2012 (2011: €0.71bn).
1 500 join class action lawsuit against South Korean life insurers
Seven South Korean insurers set for lengthy legal battle following claims of price fixing insurance premiums.
Ping An purchase already paying dividends
Share price rise is good news for the Charoen Pokphand Group, the Thai conglomerate that bought HSBC's 15.57% stake in Chinese insurer Ping An.
Lloyd's China CEO hails growth ahead of London visit
More syndicates are placing underwriters in Lloyd's China as it sees premiums rise ahead of CEO Eric Gao's London visit in January.
UK has large rise in recalls of Chinese-made products
Law firm Reynolds Porter Chamberlain has discovered that Chinese made products accounted for 78% of all UK non-food consumer goods recalls in 2012 up from 54% in 2011.
Asian Development Bank calls for government disaster risk financing initiatives
With only 5% of disaster losses insured in Asia, the Asian Development Bank wants Asian governments to offer risk financing instruments such as catastrophe bonds to help with disaster resilience.