Asia
Reinsurance CORs fall "dramatically" in H1
Global reinsurers' operating performances improved significantly in the first half of 2012, according to Fitch's latest report.
Flood losses more than doubled in past 10 years, study finds
Flood losses are increasing at an alarming rate and the insurability of floods provides unique challenges for the industry, according to Swiss Re's latest report.
Weil begins leadership of Marsh UK and Ireland
Mark Weil has taken up his previously announced appointment as chief executive of Marsh's UK and Ireland operation, Marsh Ltd, following regulatory approval.
Reinsurers showing resilience under weight of catastrophes
The top 50 global reinsurers' financial positions coming out of 2011 shows the sector's resilience through one of the costliest catastrophe years in history, according to a report by AM Best.
Asian nations could emulate Caribbean catastrophe pool
A Pan-Asian catastrophe pool could be an effective tool to mitigate the impact of natural disasters on vulnerable nations in the region, according to the Philippines finance secretary.
Reinsurers to diversify more cautiously after 2011 cat losses
Reinsurers should tread with caution when looking to diversify their operations as increased exposure in natural-catastrophe prone regions could leave them open to large losses, Standard and Poor’s said today.
PICC could delay Shanghai listing
People's Insurance Company (Group) of China may seek as much as $3bn in an initial public offering in Hong Kong in October or November while postponing a Shanghai listing, Bloomberg news has reported.
XL's environmental programme goes global
XL Group's insurance arm is launching global environmental cover for the first time.
Lloyd's names Vandendael as international markets director
Zurich's Vincent Vandendael appointed to the role, sitting in London.
MAS says reforms could mean capital hike for insurers
The Monetary Authority of Singapore has admitted that some insurers may need to hold more capital under the risk-based capital system currently being devised.
Markel hires ex-RSA marine underwriter Cannock
Markel International has appointed Matthew Cannock, pictured, as marine underwriter for its Singapore office.
China Taiping posts drop in H1 net profit
China Taiping Insurance Holdings posted reduced net profit of HK$536.67m for the first half of 2012, down from HK$792.4 in the previous year.
Charles Taylor posts rise in revenue for H1
Loss adjusting firm Charles Taylor reported an increase in revenue to £53.2m (H1 2011: £2.6m) in the first half of 2012.
Global warming to lead to stronger tropical cyclones
Scientists predict that global warming is likely to lead to stronger tropical cyclones, but that the overall global frequency of tropical storms and hurricanes is likely to decrease.
Iran offers fully insured ships to would-be crude buyers
The National Iranian Oil Company has offered India the use of fully insured Iranian vessels to use when importing Iranian oil, according to reports.
Crawford boosts call centre services in Asia
Crawford & Company has entered into a joint venture with Call Centre Services to provide 24-hour access to an expanded call centre in a bid to respond to client needs in Asia-Pacific.
Willis to open 22nd Chinese branch
Willis China, the Chinese arm of broker Willis Group, has received approval from the Chinese Insurance Regulatory Commission to open a new office in Harbin, the capital city of Heilongjiang Province in north east China.
Indian insurers lambasted for fire premium price war
India's Finance Ministry has censured four state-owned insurers for offering "ridiculously low" fire premiums to corporate clients after attempts to undercut each other led some to offer 100% premium discounts.
Typhoon Tembin narrowly misses Taiwan on its return
Taiwan residents were relieved earlier today after Typhoon Tembin failed to make landfall for a second time in the region.
No major damage after typhoon Bolaven strikes Japan
Typhoon Bolaven, a strong Category 3 typhoon, made landfall in northern Okinawa at around 12:00 UTC on 26 August.
JLT Re plans continued expansion in Asia
JLT Reinsurance Brokers is continuing expansion of its operations in Asia with a particular focus on China.
Asia View from the Top: Risk and opportunity abound
The economy of Asia has been rapidly growing. It now accounts for one-third of world gross domestic product and is likely to exceed 50% by 2050.
IAG sheds $300m assets ahead of potential UK business sale
Insurance Australia Group has written off AUD$297m (£196.6m) remaining goodwill and intangible assets associated with the UK business just months before it decides whether to sell its loss-making divisions.
Reinsurers take stock of Asia-Pacific risks
Reinsurers are bracing themselves for the next catastrophe in the Asia-Pacific region following the spate of catastrophes over the last two years, according to Fitch Ratings.