Asia
Hyperion boosts BP Marsh cash position
The partial realisation of its investment in Hyperion has improved BP Marsh & Partners’ cash position according to a trading update issued today by the venture capital provider.
Ambiental joins forces with Aon-Benfield on flood mapping
Aon-Benfield has collaboration with Ambiental to enhance its flood model development capabilities.
Pannone wins Aria Assistance legal services tender
Aria Assistance, the newly launched independent firm that evolved from the management buy out of Europ Assistance, has appointed Pannone Affinity Solutions to provide legal advice and services support.
AIR Worldwide launches 'under construction' modelling
AIR Worldwide has expanded its offerings for commercial insurers with a capability for determining losses from natural catastrophes to buildings under construction.
Bupa posts 22% fall in US and European profit
Global health insurer Bupa posted a 5% increase in revenues to £4.1bn and a 3% increase in pre-tax profits to £255.3m for the first six months of 2012.
HSBC reviewing stake in Bao Viet Holdings
HSBC is "reviewing its strategic options" with respect to the firm's Vietnamese insurance business.
Allianz launches healthcare plans in China
Allianz Worldwide Care is launching international healthcare plans for China that it hopes will appeal to international and local companies.
Indian power failure highlights supply chain exposures
The widespread power failures in northern India in July highlighted the potential exposure for businesses relying on offshore outsourcing to deliver key services to customers worldwide, according to Zurich.
South Korea poised to resume loading Iranian crude
South Korea and the National Iranian Tanker Company are rumoured to be close to a deal that could see the Asian nation resume the loading of Iranian crude before the end of September.
Oman consults Malaysia over draft Takaful rules
UK law firm Clifford Chance has submitted draft proposals for legislation to cover Takaful in the Sultanate of Oman.
Top five Asian news stories
The top five Asian stories from www.insuranceinsight.com over the past seven days.
Marine market favourable for buyers despite losses
Conditions in the marine insurance market remain generally favourable to buyers, despite a series of natural catastrophes and other significant losses since the beginning of 2011, according to a report from Marsh.
Howden buys Indonesian broker
Howden Broking Group has acquired Accette Insurance Group's Indonesian operation, PT Accette Brokers Asuransi, in a bid to to capitalise on a growing affluent community and low insurance penetration in the country.
Ace looks to strengthen travel business with internal promotions
Ace Group has made three changes to the travel team serving EMEA as the firm continues to build business across the region.
Catlin sees 35% increase in European GWP in H1
Catlin reported a 23% increase in gross written premiums from its international business in the first six months of 2012, rising to €577m from €471m in the first half of 2011.
Ageas posts 86% rise in non-life profit after strong Q2
Belgian insurer Ageas improved across all segments to post net insurance profit of €303m in the first six months of 2012, up from €111m in the first half of 2011.
Axa posts fall in net income in H1
French insurance group Axa saw net income fall to €2.6bn from €4.0bn in the first half of 2012 owing to a non-repeat of the exceptional gains on disposals in 2011.
Chinese insurers pay out ¥900m in flood claims
Insurance companies in Beijing have paid out ¥900m ($142m) in compensation after the damage caused by the floods on 21 July, the China National Radio website reported.
Indonesia's Asuransi Sinar Mas affirmed at 'AA+' by Fitch
Non-life insurer PT Asuransi Sinar Mas has had its national insurer financial strength rating affirmed at 'AA+'.
Credit insurance needed to boost Vietnam's exports
Two years after export credit was first introduced in Vietnam it is still underused by Vietnamese companies, according to the Vietnam Insurance Association.
Q&A with DAC Beachcroft's Steven Dewhurst
DAC Beachcroft appointed Steven Dewhurst as an insurance partner in its Singapore offices in January with the aim of expanding its international network. Francesca Nyman spoke to him six months into the role to find out about the issues affecting the…
Willis' European growth held back by declines in Spain and Netherlands
Willis Group has reported net income from continuing operations of $332m for the six months ended 30 June 2012, compared with $119m in the same period a year ago. Operating income increased to $496m (H1 2011: $395m).
India's government U-turns on tanker exemption
The Indian government has said that permission for Indian tankers carrying Iranian crude will be given on a case-by-case basis, a shift in position from the general exemption declared previously.
Mitsui Sumitomo worker claims Olympic bronze
Mitsui Sumitomo hailed the Olympic success of one of its own today after staff member Yoshie Ueno claimed bronze in the women's under 63kg judo competition.