Asia
Lockton to open Australian offices
Lockton is to open two offices in Australia, establishing a new insurance brokerage, Lockton Australia, in Perth and Sydney.
Tata AIG launches lifetime renewable health policy
Tata AIG General Insurance Company has launched its lifetime renewable reimbursement health insurance policy in India.
Indian ship owners vow to carry Iranian oil despite reduced cover
Sanctions-hit Indian shipping firms will continue transporting Iranian crude oil, even if restricted insurance coverage leaves them financially exposed in the case of a spill or accident, industry sources have said.
Filipinos dependent on public insurance schemes
Over 90% of Filipinos are reliant on government retirement insurance, according to the Banko Sentral ng Pilipinas's inaugural Consumer Finance Survey.
India's general insurance market posts 23% premium growth
India's general insurance market achieved premium income growth of 23% for the full year 2011.
Free webinar: The property and casualty market in south east Asia
Post and Insurance Insight in conjunction with the Chartered Insurance Institute recently held a free webinar on the property and casualty insurance markets in south east Asia.
Countdown to ISA: Q&A with Cathay Pacific's Steve Tunstall
As part of a series counting down to Insurance Strategy Asia, Insurance Insight spoke to Steve Tunstall about his views on risk management in Asia.
Philippine Prudential reports hike in microinsurance payouts
Philippine Prudential Insurance company paid more than P22m (€391,000) worth of claims in 2011, a significant increase on 2010 when payouts totalled P2.49m.
Property rate poll result
How long will property rates continue to rise?
Japan discusses tanker cover for sanctions-hit ships
The Japanese government may yet step in to to compensate for the insurance shortfall faced by tankers carrying Iranian oil.
AIA increases value of new business by 27% in Q1
AIA Group achieved 27% growth in the value of new business to reach $232m in the first quarter of 2012.
Insurers reap benefits of Vietnam's growing middle class
Vietnam's insurance market has experienced strong double-digit premium growth in recent years and demand for insurance products is forecasted to continue, according to a recemt AM Best report.
Indian court says firm must pay claims in cheque bounce case
India's Supreme court has upheld an insurance company's obligation to pay third-party claims, even if the insured's premium has gone unpaid.
Mayer leaves Aviva as part of management restructure
Igal Mayer has left Aviva as part of a mangement restructure to 'simplify' and 'focus' the business, after little more than a year in his role.
Catlin given the go-ahead for Beijing office
Lloyd's reinsurer Catlin Group has been granted approval by the Chinese Insurance and Regulatory Commission to open a wholly owned representative office in Beijing.
Chinese state pushes to extend basic medical cover
The Chinese government is embarking on a plan of healthcare reform that aims to expand basic medical cover to at least 95% of Chinese citizens.
Microinsurance extended to Nepal's rural poor
A microinsurance scheme for Nepal's rural poor is to be established next month, according to local paper The Himalayan Times.
Liability insurance needed for China's food industry
A Chinese official has called for the piloting of mandatory liability insurance for the country's food and beverage industry.
Irda supports state-backed health scheme
India's Insurance Regulatory and Development Authority has come out in favour of a government-backed health insurance scheme.
AIR targets supply chain risk
AIR Worldwide has expanded its suite of catastrophe risk engineering solutions to quantify and mitigate the risk associated with the impact of catastrophes on supply chain networks.
XL aims for 'nimble' business with restructure of International casualty unit
XL Group has restructured its International Primary Casualty business into four teams to be more nimble.
India's domestic market faced restrictions at renewals
Despite positive results in the Indian domestic market, insurers faced problems similar to their Asian counterparts at the April 1 renewals, according to Guy Carpenter.
GWP of global non-life insurance to reach $2,500bn by 2017
The global non-life insurance industry saw moderate growth during 2006-2011 and the growth momentum is expected to continue, reaching an estimated $2,500bn in 2017 with a CAGR of 4.2% over the next five years, according to Lucintel.
Vietnam ministry to pay 20% of export credit premiums
Vietnam's Finance Ministry has offered to pay 20% of insurance premiums for export credit orders if enterprises buy export credit insurance.