Asia
Willis appoints Plumeri successor
Willis' board of directors has chosen Dominic Casserley, pictured, as the company's next chief executive.
Liability insurance lines growing faster than global economy
Commercial insurance premiums in emerging markets have grown by an average of 14% a year in the past decade, two to three times faster than in developed markets.
IRDA issues new bancassurance guidelines
India's Insurance Regulatory and Development Authority published revised draft regulations on bancassurance tie-ups this week giving more flexibility to banks and insurers.
AIA wins race to acquire ING Malasia
AIA has expanded its pan-Asian reach with the acquisition of ING Malaysia.
Top five Asian news stories
The top five stories from www.insuranceinsight.com over the past ten days.
GlobalOptions and IFIC Forensics form partnership
International anti-fraud investigator GlobalOptions has formed a partnership with British firm International Fire and Investigations Consultants, which provides forensic investigations for insurers, loss adjusters and solicitors.
Global insurance federation vows advocacy role
Thirty-one insurance associations representing 87% of the worldwide insurance business formally established the Global Federation of Insurance Associations today.
Manulife Maylaysia appoints new CEO
Manulife Insurance Berhad (Manulife Malaysia) has appointed George Chew as chief executive.
Indian FDI progresses, but hurdles remain
Insurers hailing the Indian cabinet's approval of a bill raising the foreign direct investment limit in insurers to 49% may be celebrating prematurely, as opposition parties could still block the bill's passage through parliament.
Global power industry sees rising claims
The global power industry continues to see a steady rise in the number of large insured claims, putting pressure on the supply of global power at a time of rising demand and on the future of the industry itself, broker Marsh said a report published today.
Chinese market must target sustainable growth
After a period of rapid expansion, the Chinese insurance market must adjust for sustainable and healthy growth, according to a report by AM Best.
Towers Watson scores Willis hedge fund portfolio
Willis has selected pensions consultancy Towers Watson to manage a large portion of its hedge fund portfolio on a fiduciary basis, following a competitive tender.
Cooper Gay offers free RM and BC service to terrorism clients
Intermediary Cooper Gay & Co is offering a free crisis management and business continuity consultation to its terrorism and political risks policyholders.
ALC Health launches claims monitoring service for customers
International private medical insurance provider ALC Health has launched an online member service that allows policyholders to check details as well as submit, manage and monitor claims 24 hours a day.
Kalista offers parametric catastrophe trigger for property
Bermuda-based Kalista Global has launched a property insurance product ahead of the January renewals with specific parametric catastrophe triggers to ensure savings.
"Essential" FDI could raise Rs 30,000 crore, says India's regulator
Raising the cap on foreign direct investment in Indian insurers could attract Rs 30,000 crore to the industry, India's insurance regulator has said.
IRDA plans to approve 10 standard insurance products
India's insurance regulator plans to develop 10 standard products which can be launched by insurance companies without seeking regulatory approval.
Legal services insurers in pole position to meet new generation's needs
Insurers are ideally placed to take advantage of the changing market environment, according to the new president of the International Association of Legal Protection Insurance (RIAD).
India's cabinet approves FDI hike
India's government has approved the long-awaited increase in the cap on foreign direct investment in Indian insurers.
William Russell alters Hong Kong claims process
International expatriate insurance provider William Russell has changed its out-patient claims procedure for Hong Kong-based clients.
MS Frontier Re to open Malaysian office
MS Frontier Re plans to establish a new branch office in Malaysia subject to regulatory approval to service its clients in Asia and Oceania.
Hyundai Marine & Fire scores ratings upgrade
South Korean insurer Hyundai Marine & Fire has had its financial strength rating upgraded to 'A' from 'A-' by AM Best.
Ace launches property offering to fill terrorism gap
Ace Group has launched a property insurance proposition designed to cover the gaps between traditional property, terrorism and political violence insurance policies.
Munich Re chief laments China's poor rate of quake cover
Nikolaus Von Bomhard has implored China to create a public-private partnership to provide earthquake protection for businesses and citizens in the country.