Asia
Ace appoints energy and engineering manager for Asia Pacific
Ace Insurance has announced the appointment of Michael Frazer as energy and engineering manager for Asia Pacific.
Overcapacity constraining cargo market
Soft market rates caused by overcapacity continue to act as a constraint on the global cargo insurance market, despite some significant losses.
Myanmar to open insurance market to foreign investors
Myanmar will allow foreign investors into its insurance sector by 2015 once local private insurers have had time to establish themselves, according to a senior government official.
UK exporters could bask in Indian summer, says Coface
The business climate in India offers encouragement for UK companies wanting to take advantage of the country’s thriving technology and services markets, according to a report by credit insurer Coface.
State-owned Singapore firm boosts stake in China Pacific
The Government of Singapore Investment Corporation will increase its stake in China Pacific Insurance Company, according to an announcement on the Hong Kong stock exchange website.
Asia View from the Top: Getting flood modelling right
The Intergovernmental Panel on Climate Change reported in 2007 that especially heavily populated mega-delta regions in south, east and south-east Asia will be at greatest risk owing to increased flooding from the sea and, in some mega-deltas, flooding…
Death toll still rising from factory fire in Pakistan
At least 289 people were killed and dozens injured in a fire at a garment factory in Pakistan yesterday in what experts say is the biggest industrial accident in the country's history.
Fitch sharpens focus with India rebrand
Ratings agency Fitch today launched a new brand for its existing national ratings business in India.
Top five Asian news stories
The top five Asian stories from www.insuranceinsight.com over the past seven days
Insurance recruitment up in Asia despite slow economy
Asia's insurance firms are still hiring despite the current economic slowdown, bucking the trend of financial services firms across the region, according to Reuters.
Head of AIG's India joint venture leaves to join Mercer
Mercer has appointed Gaurav Garg as region leader for growth markets, incorporating Mercer's businesses in Asia, the Middle East, Africa and Latin America.
Lloyd's launches jewellers' insurance in Shanghai
Lloyd's Insurance Company (China) has launched a block insurance programme designed for the diamond and jewellery trade in Shanghai.
Poor data quality and modelling tools make emerging markets risky
Reinsurers pursuing growth in emerging markets must be alert to the unique challenges these countries present, Guy Carpenter has warned.
AIA reportedly in talks with Aviva for Sri Lanka insurance arm
Hong Kong-based insurance giant AIA has reached the final stages of negotiations for Aviva’s stake in Sri Lankan insurer NDB-Aviva Insurance, according to reports in the Sri Lankan business press.
RSA enters P&I market with start-up Lodestar Marine
RSA has teamed up with protection and indemnity start-up Lodestar Marine for a new fixed premium P&I venture.
Insured losses from China quakes very low
Two magnitude 5.6 earthquakes that struck southwest China on Friday caused little to no insured losses, according to catastrophe modelling firm Eqecat.
Reinsurance market is united, says Guy Carpenter
Guy Carpenter & Company has praised the reinsurance industry for "coming of age" and finally "converging".
Profitable growth still possible, says Guy Carpenter
Reinsurers should still be targeting profitable growth, despite challenging market conditions, broker Guy Carpenter said in a Monte Carlo press briefing on Sunday.
Guy Carpenter to open Shanghai Office
Reinsurance broker Guy Carpenter has received approval from the China Insurance Regulatory Commission to open a branch office in Shanghai.
Labuan cracks down on unqualified brokers
Only certified professionals will be allowed to operate as brokers in Labuan by the end of 2013 under regulations designed by the Labuan Financial Services Authority to boost the territory’s international reputation.
GAB Robins hires former Cunningham Lindsey adjuster
GAB Robins have today announced the appointment of Maggie Cowing to the newly created position of head of major and complex loss.
Dozens killed as quake strikes southwest China
At least 43 people were killed and 150 injured after a magnitude 5.7 earthquake struck southwest China's Yunnan and Guizhou provinces on Friday, according to China Daily.
Asian weddings: An insurance dilemma
Wedding insurance is growing in India as families spend a collective $16bn on marriage celebrations. However, as Nicky Burridge reports, the chances of its spreading further into Asia look unlikely.
Asian View from the Top: Prudential insurance regulation - an evolving game-changer
Changes in prudential regulatory developments the world over are expected to have a significant impact on operational costs, the competitive landscape and the number and form of market participants in Asia Pacific.