Asia
Execs would not be surpised if Eurozone shrinks, report claims
Rising sovereign debt in the developed world is one of the main concerns for the world’s business leaders and financial executives, according to 440 senior executives who participated in a survey commissioned by RBC Capital Markets.
Whittington preps Asian direct launch
Whittington Group is set to launch a new direct online insurance company, DirectAsia.com, in Singapore with reinsurance support from Munich Re.
Ageas 2009 international result improves under new structure
Ageas, formerly known as Fortis, today published 2009 pro forma financial information reflecting the group’s new reporting structure.
China regulator aims to open more investment channels for insurers
The China Insurance Regulatory Commission (CRIC) is discussing loosening the investment channels of insurance companies, according to newswire the Xinhua News Agency.
Reinsurer capital up 8% - Aon Benfield
Aon Benfield Aggregate (ABA) report from Aon Benfield Research team estimates that global reinsurer capital increased by 8% to $434bn, surpassing the record levels set in 2007 before the global financial crisis occurred.
US west coast at risk of “mega-quake”
The west coast of North America, the Lesser Antilles, Chile, Sumatra and Japan are all at risk from subduction zone “mega-quakes” in the near future according to Professor Bill McGuire of the Aon Benfield UCL Hazard Research Centre.
Aon lists five earthquke hotspots
Aon Benfield has identified the Caribbean, Cascadia in North America, Chile, Indonesia and Japan as areas where mega-earthquakes of moment magnitude (Mw) 8+ are most likely to occur in the future.
ABI chair calls on government to put words into action over tax reform
The outgoing chairman of the Association of British Insurers Archie Kane, has launched an attack on European law makers for not differentiating between insurance and other financial services.
Penny Black's insurance week
Penny was interested to read about the fiery Prudential shareholder meeting on Monday this week, following its failed bid for Asia's AIA.
Gladwell joins to lead Crawford Home
Crawford & Company has named Aviva operations director Greg Gladwell to lead its new end-to-end personal lines service Crawford Home.
Zurich in Asia-Pacific swoop
Zurich has signed an agreement to acquire 80% of PT Mayapada Life, a Indonesian life insurer focused on the distribution of group and individual life and health plans.
Brokers Griffith & Armour and Miller seal international tie up
Assurex Global, the international network of independent insurance brokers, has added three new brokers to its international partnership ranks: Griffiths & Armour and Miller Insurance Services, both of the United Kingdom, and Associated Insurance…
Generali named as suitor for AIA
Generali may be interested in buying the AIG Asian unit, according to Italian newspaper reports.
Generali named as suitor for AIA
Generali may be interested in buying the AIG Asian unit, according to Italian newspaper reports.
US "elevated" up as Aon unveils 2010 Terrorism Threat Map
International counterterrorism efforts appear to be stifling the ability of terrorist groups to mount significant attacks on the scale of those of September 11, 2001, according to the 2010 Aon Terrorism Threat Map.
Axa extends deal deadline
Axa Asia Pacific Holdings and National Australia Bank have today agreed to extend until 15 July an agreement relating to the conclusion of a proposed transaction between the parties.
Prudential faces ‘no’ votes over AIA deal
F&C Investments and Cavendish Asset Management, two investors in the insurer Prudential, have both indicated they are to vote ‘no’ on the firm’s proposed acquisition of AIG’s Asian arm, AIA
Prudential confirms talks to renegotiate AIA deal
Prudential said it was trying to negotiate a cut in the $35.5bn it has agreed to pay for AIG's Asian unit, AIA, amid fears its shareholders might block the deal as too expensive.
Asian insurers need to become customer driven, Whittington says
General insurers in Asia need a closer relationship with their customers, and the direct distribution model is a critical success tool in achieving this objective, according to Charles Burgess, managing director of Whittington Asia Pacific.
Willis raids RSA for Russia and Middle East boss
Willis Group has appointed Scott Pickering CEO, Russia, Eastern Europe, the Middle East and South Africa, effective immediately.
CEA welcomes EU/US Japan Post Insurance talks
The European insurance and reinsurance federation, CEA, has welcomed joint EU and US effort to address the Japanese government’s preferential treatment of Japan Post Insurance.
AIA acquisition includes Thai bond risk
Prudential will take on $7.37bn of Thai sovereign debt in a deal to buy AIG’s Asian unit, according to a regulatory filing.
Bowring Marsh opens Tokyo office
Bowring Marsh, the specialist international placement broker at Marsh, has expanded its footprint in Asia with the opening in Tokyo of its eighth office.
E&Y warning over emerging markets
Emerging markets continue to offer growth but insurers need to keep this in perspective according to a panel at Ernst and Young's global insurance conference in Paris.