Asia
Severe global flooding causes widespread losses in Asia
Aon Benfield has released the latest edition of its monthly cat recap report, which provides an analysis of worldwide catastrophic events in July.
Marsh Q2 2010 results show double digit growth in Asia
Marsh & McLennan has today reported that its risk and insurance services arm, Marsh, recorded revenue of $1.5 bn (£942m) in the second quarter of 2010, an increase of nine percent from the same period in 2009, or one percent on an underlying basis.
Former Axa boss Les Owen joins Jelf
Jelf Group has appointed Les Owen as its new non-executive chairman following the retirement of David Walker.
Zurich reshapes global life business
Zurich has appointed four regional chief executives within global life, Europe, Asia Pacific & Middle East, North America and Latin America.
Consolidation - global brokers: Too big for their boots?
The creation of the global broker in the 1980s resulted in a dominant few. David Trezies asks whether this consolidation has produced any tangible benefits for clients.
BIS countdown - Sean McGovern interview: Getting to grips with government
Lloyd's general counsel Sean McGovern talks to Jonathan Swift about the incoming Solvency II directive and his role building relationships with the new government.
Scor reports 19% growth at treaty renewals
P&C and specialty treaty renewals at end of June have resulted in premium growth of 19% at constant exchange rates, whilst fully respecting the technical underwriting profitability criteria.
The Reinsurance Power List 2010: Who's the daddy?
After the usual team debates, tears and tantrums, once again the Reinsurance team presents its annual Power List. We give you our opinions on who is hot and who is not in the reinsurance world and why they are a force to be reckoned with
Bowring Marsh opens Hong Kong office
The specialist international placement broker at Marsh has expanded its footprint in Asia with the opening of its ninth Hong Kong office.
Kiln appoints two in Asia
Insurance and reinsurance underwriters Kiln have appointed Paul Dreblow and Kenneth Leung to their team in Asia.
New Indian insurer receives licence
Indian engineering giant Larsen & Toubro’s new general insurance company is due to start operations after receiving a licence from the regulatory authority for commencing its business operations.
AIG names ex-Pru chief head of AIA ahead of listing
AIG has named former Prudential chief executive Mark Tucker as head of its Asia life insurance business, AIA, and said it would seek to list AIA on the Hong Kong stock exchange.
KPMG unsurprised by US omission in Solvency II project
KPMG has welcomed Ceiops draft advice (Consultation Paper 81), published yesterday, on which jurisdictions’ regulatory regimes are to be considered within the first wave of Solvency II equivalence assessments.
Singapore insurance market poses threat to London warns Marsh
The London market needs to think about how it is responding to the expanding Singapore market if it is going to be competitive with rates.
Haiti and Mozambique most vulnerable to economic losses from natural disasters
Italy, Japan, China, USA, Spain and France also rated “high risk” on The Natural Disasters Economic Loss Index (NDELI), released by risk intelligence and ratings company, Maplecroft.
JLT appoints MD for North Asia
Jardine Lloyd Thompson Asia has appointed Doug White as managing director of its North Asia business.
Japanese regulator to abolish asset allocation rules
Japan's Financial Services Agency plans to eliminate investment rules restricting asset allocations at life and non-life (re)insurers, according to newswire Reuters.
Tokio Marine to restructure to expand reinsurance and commercial property book
Tokio Marine, the global insurance group, has announced plans to expand its international reinsurance and large commercial property operations. It is also announcing the opening of new offices for reinsurance business in Switzerland and Australia.
Post script – 10 years ago: Garwyn in limbo as QBE goes to Limit
Looking through Post’s back catalogue paints a unique picture of more than 150 years of insurance news, as this highlight from 10 years ago reveals.
Technology - Underwriting: Shifting focus
Insurers are upping the pace at which they investigate underwriting IT options and, over the past six months, there has been a substantial jump in the number of carriers looking to engage software houses with projects in this area, says Edward Murray
Willis Re promotes Byng
Willis Re has named James Byng Property Resource group leader for its International and Specialty reinsurance business.
Whittington faces Aviva in Asian direct market
Whittington has pitched itself against Aviva by setting its sights on the direct Asian insurance market with the launch of a new insurance company in Singapore.
Non-life weathers storm
In the UK non-life premiums fell 3.1% to $92bn (£61bn) in 2009 (which ranked it fourth behind the US, Japan and Germany) out of a total of $309bn (which ranked the UK third behind the US and Japan), and that insurance penetration was 12.9%, according to…
Swiss Re: global non-life premium dips 0.1% in 2009 to $1 735bn
According to Swiss Re’s latest “World insurance in 2009” sigma study, world insurance premium volume fell 1.1% on an inflation-adjusted basis.