Asia
News analysis: Escalating loss estimates in Thailand begin to trigger market fallout
It was the worst flooding Thailand had seen for 50 years and, during its four-month spell, more than 600 people died and 77 provinces were submerged in water.
Review of the year - Lloyd's & London Market: The costliest year ever?
The first half of 2011 saw an unprecedented number of catastrophic events, so how has Lloyd’s and the London market coped?
Study exposes supply chain risks in China
A study commissioned by FM Global revealed a natural catastrophe in China on the scale of the 2011 Japan earthquake and tsunami would have an even more severe impact on supply chains, given the country’s critical role in global manufacturing.
$600m of Thai flood losses fall to Swiss Re
Swiss Re estimates its claims costs from severe flooding in Thailand will be $600m of the $11bn total losses.
Japan to set up Asian nat cat insurance plan
Japan is planning to establish a large-scale insurance system encompassing the Asia-Pacific region to cover developing countries hit by devastating earthquakes, typhoons and other disasters.
Challenges lie ahead for China's insurance market
The Chinese insurance market’s share of world insurance premiums has grown from 1% to 4% in the space of a decade, but with rapid growth come new challenges, according to an Aon Benfield report.
China poll result
Will China be the next supply chain disaster?
Hyperion promotes APAC head to CEO of Dual International
International reinsurer Hyperion has promoted its head of Asia Pacific, Damien Coates, to chief executive officer of Dual International.
Nationale Suisse rated at 'A-'
Schweizerische National-Versicherungs-Gesellschaft AG has achieved a financial strength rating of A- (Excellent) and issuer credit rating of "a-".
Emerging markets look set to grow in 2012
Despite growth slowing in 2011 emerging markets will remain “reliable growth engines” in the global insurance markets in 2012, according to reinsurer Swiss Re.
Thai floods lead Singapore Lloyd's Syndicate to close to new business
Singapore-based Lloyd’s Syndicate 1965 will no longer be accepting new business following the Thai floods.
Howden eyes Asia with Dallamore hire
Hyperion-owned Howden has signed up Brian Dallamore as an advisor and consultant in Asia, and as a non-executive director of the board that oversees the broker’s retail operations in South East Asia.
Former Citibank broking boss joins Howden Asian board
Howden Broking Group, the broking arm of Hyperion Insurance Group, has recruited Brian Dallamore as an advisor and consultant in Asia.
Market moves: Fresh faces for underwriters
As the industry heads into December, underwriting agencies and insurers lead the way in the job market. This week saw major moves at Chubb, More Than and Travelers, while Evolution, Arista and Ink all welcomed new staff. It was another slow week for…
Cigna finalises acquisition of First Assist
Cigna has finalised the acquisition of First Assist Insurance Services following regulatory approval from the UK’s Financial Services Authority in late October.
Chinese insurance giant PICC P&C unveils HK$6.13bn IPO plan
Chinese insurance group PICC Property and Casualty has nnounced plans to raise HK$6.13bn through a listing on the Hong Kong Stock Exchange.
Taiwan's insurers urged to stop lending securities for shorts
Taiwan’s regulators have urged insurers to stop lending securities to short sellers seeking to bolster equities after the Taiex Index slumped.
Thai flood supply chain losses could reach $20bn
The majority of insurance losses from the Thai floods will come from manufacturing and supply chains and could reach $20bn according to AM best.
Catlin and China Re deal predicted to be catalyst for Lloyd’s investment
The “landmark” strategic partnership between Catlin and China Re is expected to be a catalyst for a boom in Lloyd’s investment from insurers in emerging economies.
China may be location of next big supply chain disaster, says AM Best
A webinar by ratings service firm AM Best is questioning whether China is the next supply chain disaster in the making, given the high level of supply chain exposure in the East Asian country.
JLT Re recruits MD for Asia Pacific expansion
JLT Reinsurance Brokers has appointed Stuart Beatty as managing director, Asia Pacific, JLT Re Fac.
Keeping pace with the evolution of risk
In the last 18 months, risk managers have faced a complex set of challenges.
Catlin and China Re join forces to create special purpose syndicate
Lloyd’s reinsurer Catlin has formed a strategic partnership with China Reinsurance Corporation, the country's only state-owned reinsurance group.
Lloyd's director encouraged by growth of Chinese broking sector
China offers commercial and reinsurance brokers a great opportunity for growth, although the role of local players may ultimately outstrip the international names.