Asia
Insurers starting to embrace change but still a way to go, says PwC
PwC's global insurance leader outlined what successful insurers of the future could look like, and discussed the forces re-shaping the insurance sector, when he spoke at the 2012 International Insurance Society Seminar in Rio de Janeiro today.
Local insurers return to Thailand flood market
Local insurers in Thailand are increasing their appetite for flood risk and reducing their dependence on the government's Catastrophe Insurance Promotion Fund, according to the fund's chairman Payungsak Chartsuthipol.
Aon named risk management and insurance advisor to ISS
Facility services provider ISS has appointed Aon Risk Solutions to provide global risk management services and insurance advice.
Resource provides global view of health insurance for low-income families
A new resource capturing more than 100 health insurance programmes designed for low-income populations in developing countries has been launched.
Japan's lower house passes Iranian oil tanker bill
Japan took a major step towards circumventing the imminent EU sanctions against Iranian oil on Friday after its lower house passed a bill to provide government guarantees on insurance for Iranian crude cargoes, Reuters reported.
FM Global targets Asian expansion
FM Global wants to grow its presence in Asia as increasing numbers of its clients invest in emerging economies, according to the firm's head of Northern Europe Stefano Tranquillo.
'Modest recovery' on the horizon for brokers globally
The outlook for the global insurance brokerage sector remains stable, underpinned by expectations for a modest economic recovery in 2012-2013, Moody's said in its recent Global Insurance Brokerage Outlook.
SSP appoints Discombe chairman of board of directors
Insurance technology solutions provider SSP has appointed Nick Discombe as non-executive chairman.
Manulife plans Asia expansion
Candadian insurer Manulife Financial plans to double its insurance agents in Asia to about 100,000 in the next five years and boost the region's share of profit to 40%.
Japan to allow sovereign guarantees for tankers
Japan's cabinet plans to approve a bill giving sovereign guarantees for the nation’s oil tankers, circumventing sanctions aimed at stalling Iran's nuclear programme, according to Bloomberg.
RSA fills Asia and Middle East legal role with ex-Fortis Bank GC
General insurer RSA has appointed Christina Tham as legal, risk and compliance director for the Asia and Middle East region.
Vijay Raghaven promoted to CEO of Ace Arabia
Ace Group today made several appointments to its Middle East and North Africa team.
XL to write political and trade credit risks via Lloyd's platform
XL Group has received approval from Lloyd's to write political and trade credit risks using the Lloyd's platform via XL Group's Lloyd's Syndicate 1209.
Burton to head Coface's Asia Pacific platform
Richard Burton has been appointed manager for Coface's Asia Pacific platform.
LIC investigated over Rs10m death benefit scam
The Life Insurance Corporation of India is being investigated for alleged "serious financial irregularities" in a scheme designed to provide insurance for the country's rural poor.
Willis Re appoints regional director for APAC and ME
The reinsurance arm of broker Willis Group today appointed Kieran Angelini-Hurll as regional director of its Indian Sub-Continent, Middle East, North Africa and Turkey operations.
Former Aon VP to head up Swiss Re Asia Pacific
Swiss Re Corporate Solutions has appointed Ted Hodgkinson as head of Asia Pacific.
Willis restructure aims to integrate "siloed and independent businesses"
Willis Global, the reinsurance, specialties and wholesale arm of Willis Group, will implement a series of "client-centric" structural changes aimed at growing the premiums placed annually through its three core segments.
Korea Life and KB Financial shortlisted for ING acquisition
Korea Life Insurance and KB Financial Group have been shortlisted in the bidding for ING Groep NV's life insurance operations in Asia, according to Dow Jones newswires.
Ace launches mobile phone air-time fraud cover
Ace Group subsidiary Ace Insurance has introduced a mobile phone air-time guard for Asia Pacific, which it claims is the first of its kind.
ISA 2012: Insurers urged to sharpen up claims management processes
Rising claims recorded in Asia due to the Thailand floods and Japan earthquakes mean that optimising claims management is critical for insurers seeking to improve customer satisfaction.
FM Global makes senior appointments in Asia and Europe
FM Global has made a number of senior changes to its management team in Asia and Europe.
Travelers considering India market entry
US-based Travelers Group is believed to be in talks with Indian farm equipment maker Mahindra & Mahindra regarding a bid to enter the country's fast growing general insurance market.
Talanx enters Indian market via joint venture
Talanx-owned insurer HDI-Gerling will enter the Indian market through a joint venture with Indian firm NBFC Magma Fincorp after a three-year bid to gain a licence for the region.