Asia
ISE 2012: Luzzi says firms must think in global terms
Opening the inaugural Insurance Strategy Europe event Jorge Luzzi, president of the Federation of European Risk Management Association and director of group risk management at Pirelli, told delegates that a global view is essential going forward.
European sovereign debt hits insurer profits
2011 was the worst year on record for natural catastrophes, yet it was cracks in the Dow Jones, faults in the FTSE and tremors on the Hange Seng that bothered many insurers more.
Starr expands in APAC with Singapore direct licence
Insurance and travel assistance group Starr Companies has been granted a direct general licence from the Monetary Authority of Singapore to operate as a direct insurer in the republic.
AIR and RMS agree multi-year data sharing deal
Rival catastrophe modelling firms AIR Worldwide and Risk Management Solutions have formed an agreement to share exposure data schemas, in response to the growing numbers of clients using multiple models.
Insurers in Philippines fight proposed capital hike
Insurers in the Philippines have locked horns with the country's Department of Finance over proposals to increase the capital requirements for insurers to P1bn (€17m) by 2016.
Quake policy uptake in Japan increases 17.5%
Analysts have noted a surge in the uptake of quake policies in Japan following the Tohoku earthquake last year.
Thai Re gets THB7bn capital injection
Thailand's largest domestic insurer, Thai Re, has successfully raised equity of THB7bn with the support of shareholders and a new strategic investor.
Insurance Insight – top 10 stories
The 10 most read stories from www.insuranceinsight.eu over the past seven days.
Chinese trade group releases draft motor reforms
The Chinese Insurance Association has released a series of draft amendments to the country's motor market for public consultation.
Hong Kong insurance premiums grow 9% to $225.8bn
Hong Kong's insurance industry grew 9% in 2011, with total gross premiums reaching $225.8bn, according to the region's Office of the Commissioner of Insurance.
Hong Kong GI business grows 10%
Hong Kong's Office of the Commissioner of Insurance has revealed that total gross premiums of the Hong Kong general insurance industry in 2011 grew 10.7% to $34.7bn with net premiums up 8.5% to $23.8bn compared with 2010.
Far East 'cold spots' and nat-cats lead Canopius to report first loss
A string of natural catastrophe losses in 2011 drove Canopius Group to the first loss in the company's eight-year history.
Asian states lobby EU in hope of Iran oil sanctions U-turn
European Union foreign ministers are expected to consider how the bloc's Iranian oil embargo will affect insurers at a meeting in Brussels next week, under mounting pressure from Asian states to change their stance.
Cat price rises inadequate, says Canopius
Canopius executive chairman Michael Watson has said that tenfold increases in premiums in Thailand have been exceptions, and complained that insurers have not done enough to raise rates across the board.
Aon extends power team with recruit from RK Harrison
Aon Risk Solutions has appointed Darren Marshall as power construction leader.
In Series Emerging Markets: Asia has the right ingredients
Asia has all the key elements for an emerging market, with a number of countries in a vast and diverse area at various stages of development. How can insurers crack this market?
Auto traders distribute over 50% of motor premiums in emerging markets
Motor insurance is one of the most important components of non-life in emerging markets, according to recent research by Finaccord.
In Series Emerging Markets: Asia has the right ingredients
Asia has all the key elements for an emerging market, with a number of countries in a vast and diverse area at various stages of development. How can insurers crack this market?
In Series Emerging Markets: Drawing on professionalism
With capital continuing to pour into Asia, talent and professionalism is an issue that the Chartered Insurance Institute is well-placed to tackle.
Axa/QBE deals likely to pave way for onslaught of investment in Far East
The multimillion-pound deals struck in South East Asia by Axa and QBE last week produced the first ripple of what is expected to grow into a tidal wave of investment enquiries in the fast-growing region.
Post magazine – 15 March 2012
The latest issue of Post is now available to subscribers as a digital and interactive e-book.
Insurance Insight – top 10 stories
The 10 most read stories from www.insuranceinsight.eu over the past seven days.
Mapfre expects 6% revenue increase in 2012, as 2011 rises 3.2%
In 2011, Mapfre achieved a net result of €963m, a 3.2% rise on the 2010 full year results.
US targets insurers of Iran deals
Companies that insure trade with Iran would be cut off from the US financial system under legislation aimed to further target Tehran's nuclear programme.