Asia
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.
Risk presentation key, claims international broker survey
According to new research commissioned by Bowring Marsh, the quality of the presentation of risk information is crucial to insureds obtaining the most competitive terms from insurers.
Prudential starts $21bn delayed offering
Rights' offer to fund the purchase of AIG’s Asian unit, AIA, after a 12-day delay has fuelled speculation that the deal will fail.
European GI CEO Annette Court out in Zurich reshuffle
Zurich Financial Services today announced a streamlined management structure and related senior management appointments. The changes come into effect on 1 July.
Ageas records loss in quarter one
Ageas today reported a 20% increase in premium over the first quarter of 2010 to EUR 5bn when compared with Q1 2009.
Goldman nears deal for AXA's $1bn Taikang stake
An investing arm of Goldman Sachs is in the final stages of an agreement to buy AXA's $1.05bn stake in Chinese Taikang Life, according to newswire Reuters.
Pru and AIG in talks on restructuring AIA sale
AIG and Prudential are in advanced talks to restructure the $35.5bn sale of AIA, the AIG’s Asian unit, in a move that would cut the cash consideration by about $2bn but could answer UK regulators’ last-minute objections to the deal according to the…
Samsung Life rises after record IPO
Samsung Life Insurance rose on its first day of trading in Seoul after raising $4.3bn in South Korea’s biggest initial public offering.
William Russell expands global sales team
International expatriate insurance specialist William Russell has restructured and expanded its global sales team with the appointment of six new sales professionals.
Oil spill costs Catlin $40m
Catlin has estimated its exposure to the Deepwater Horizon oil disaster is approximately $40m (£27m) net of reinsurance and reinstatements.
Mondial reports €56m profit for 2009
Mondial Assistance has reported €1.673bn turnover in 2009 (+4.8% or +5.4% at a constant exchange rate) and a return of €56m. Its combined ratio was 95.9 %.
Prudential takeover of AIA given go ahead by FSA
Prudential saved its takeover of AIG’s main Asian unit after reaching an agreement with the UK regulator, the Sunday Times has reported.
Cunningham Lindsey sets up global power group
The loss adjuster announces formation of global initiative to handle major operation loss involving a variety of power related risks.
Guy Carpenter predicts slow pacific cyclone season
Risk management and reinsurance firm Guy Carpenter has predicted a that tropical cyclone activity in the Western North Pacific will be below normal levels for the remainder of the year.
Bowring Marsh names global business development boss
International placement broker Bowring Marsh has named George Jones as its first ever global head of business development.