Asia
Prudential departure would be "severe blow", says Tory MEP
The market has been responding to the news that The Prudential, one of the UK's oldest insurance companies, may re-domicile abroad, due to a lack of clarity over how Solvency II will affect its business.
Post magazine – 1 March 2012
The latest issue of Post magazine is now available to subscribers as a digital and interactive e-book.
Protection needed for consumers to embrace 'mobile wallets'
Consumer interest in mobile transactions would be "exponentially higher" if secure protection products were an option, according to a survey on mobile trends by specialty insurer Assurant Solutions.
India considers guarantees for Iranian oil
India's shipping secretary K Mohandas said on Tuesday that the country is considering sovereign guarantees for shipping and buying Iranian oil on a delivered basis, when EU sanctions on Iran come in to effect, according to Reuters India.
Sri Lanka's GI market grew 21% in 2011
Sri Lanka's general insurance market grew by 21% in 2011, a record for the industry since its privitisation, according to Sri Lankan business paper the Daily News.
Japan questions EU over impact of Iran sanctions
Japan's government is seeking clarification from the European Union about the implications of its sanctions against Iran for non-EU states, amid fears Japanese ship owners could see cover for voyages to Iran slashed.
RSA IFS and counterparty credit ratings upgraded to 'A+'
General insurer RSA's core operating entities have been upgraded to 'A+' in recognition of the group's strong capitalisation.
Asian insurers warned to watch policy admin or repeat Europe's mistakes
Capgemini has warned insurers based in Asia Pacific that they should not rest on their laurels when it comes to policy administration or they will suffer the same issues European insurers are facing now.
Talent deficit could scupper financial services firms' growth plans
A serious talent shortage could derail the growth plans of financial services companies globally, according to PwC's latest CEO survey.
Thai regulator raises foreign share cap to 49%
Thailand's insurance regulator, The Office of the Insurance Commission, has agreed to raise the foreign shareholding limit in the country's insurance companies from 25% to 49% in a bid to liberalise the market.
Asia-Pacific legal review
The legal profession and the insurance sector depend on each other throughout the world and as Chambers Asia-Pacific 2012 launches its editor Shi-Ning Koay provides an overview of the legal insurance specialists and the markets in this region.
Q&A Asia: with Lloyd's Asia's Kent Chaplin
Kent Chaplin, head of Asia Pacific and managing director of Lloyd's Asia, spoke to Francesca Nyman about the market's presence in Asia, its relationship with brokers and its plans for the future.
Swiss Re reports $2.6bn profit despite nat cats hitting P&C combined ratio
Global reinsurer Swiss Re exceeded analyst expectations to report net income of $2.6bn for the full year 2011.
Life insurers need derivatives to hedge risks, says IRDA chairman
The chairman of India's insurance regulator has indicated that it may relax the ban on life insurance companies investing in derivatives, in a speech at the 14th Global Conference of Actuaries in Mumbai.
AIA Group sees 13% increase in profit
AIA Group has reported a 13% rise in operating profit after tax for the year ended 30 November 2011 to $1922m.
Lancashire secures $75m additional capital for Japan renewals
Lancashire Holdings has said it will be able to deploy $75m additional capital for the 1 April Japanese market renewals after securing the extra capital from its Accordian sidecar investors.
Increased demand for credit policies from Malaysian SMEs
The Malaysian market is seeing an increased demand for trade credit insurance from exporters and SMEs amid the uncertain global economic environment.
RSA reports 58% increase in underwriting result to £375m
General insurer RSA reported a 58% increase in the underwriting result to £375m for the full year 2011, attributed partly to the successful growth of overseas operations.
Accordian Re gains new capacity for Japanese market
Lancashire Holdings has secured additional capital of $75m (£48m) for Accordian Re to focus on the 1 April Japanese market renewals.
Corporate Underinsurance: Improving understanding of business interruption cover
Last year's riots brought the problem of a lack of business interruption cover to the fore. What are the solutions to underinsurance in this area?
Zurich appoints Bouchard head of government and industry affairs
Zurich Financial Services Group has appointed Francis Bouchard as the group head of government and industry affairs, with effect from 1 April 2012.
DLA Piper recruits William Marcoux from Dewey & LeBoeuf
Law firm DLA Piper has hired former Dewey & LeBoeuf executive committee member William Marcoux as partner and head of its insurance sector transactions and regulation practice.
Suncorp reports commercial rates hike of 9.3% as reinsurance costs jump
Suncorp Group has reported net profit after tax of Au$389m (£263m) for the half year to 31 December 2011, up from Au$223m in the prior corresponding period.
Collaboration key to tackling Malaysian motor fraud
Collaboration is needed between insurance practitioners, adjusters and motor workshops in to improve fraud detection in Malaysia’s motor industry, according to industry sources in the region.