Asia
JLT buys Lambert Brothers in Hong Kong
Jardine Lloyd Thompson has expanded its footprint in Hong Kong by buying local insurance broker Lambert Brothers.
C-Suite Asia: Captive insurance in Hong Kong
Legislation was introduced into the Legislative Council in Hong Kong on 8 January to provide a profits tax concession to captive insurance companies for profits from their business of insurance of offshore risks. The move is expected to spur the captive…
India to review foreign ownership threshold of intermediaries
The Insurance Regulatory Development Authority has formed a panel to look at increasing the foreign ownership threshold of Indian intermediaries and third party administrators from 26% to 100%.
Allianz warns on interconnectivity of risks
Business interruption, the supply chain, natural catastrophes, fire and explosions are the main global risks to businesses according to the third annual Allianz Risk Barometer, which surveyed over 400 corporate insurance experts from 33 countries.
C-Suite: Look east for growth opportunities
To grow and prosper, all businesses need to seek new territories and then adapt their model to the needs of the local market. This is especially true of modern Lloyd’s brokers, for which simply being in London ceased to be the ultimate competitive…
One dead and 52 homes destroyed by bushfires in Western Australia
A man has died on the roof of his home and 52 homes have been destroyed in the Perth hills as Australia suffers a serious heatwave.
Japan's regulator to ban subcontractors selling insurance
The Financial Services Agency in Japan is expected to to ban insurance agencies from allowing subcontractors to sell insurance products.
Ace acquires majority stake of bank's insurance arm in Thailand
Ace has taken a 60.9% stake in the general-insurance division of Siam Commercial Bank for $185m (4.5bn baht).
Zurich eyes bancassurance in Malaysia
Zurich has signed a memorandum of understanding with the Bank of China to explore bancassurance opportunities in Malaysia.
China's Fosun buys Portuguese insurer
Fosun International of China has acquired an 80% stake in Caixa Seguros e Saúde, the insurance arm of Portugese state bank Caixa Geral de Depositos SA for €1bn ($1.36bn), beating out Apollo Management International.
Willis acquires specialist broker Charles Monat
Willis has acquired Charles Monat, a life insurance broker to high net worth clients, to bolster its Global Wealth Solutions operation.
Zurich appoints global chief marketing officer
Zurich has promoted Monika Schulze to the position of chief marketing officer across the group.
Allianz targets 10% growth in Malaysia
Allianz Malaysia Bhd’s general insurance arm is looking to grow its customer base by 10% in 2014.
C-Suite Asia: Asia-Pacific to grow solidly
An economist at Euler Hermes explains how the Asia-Pacific region should be the best global performer for insolvencies in 2014, but that rebalancing and lower growth in China are likely to bring possible risks to the economic outlook.
Calm 2013 US hurricane season reduced nat cat claims by 50%
According to Munich Re, insured losses from natural catastrophes globally last year declined to around $31bn compared with $65bn in 2012 and the average for the last ten years of $56bn.
European windstorms caused most December damage
According to catastrophe modeling firm Impact Forecasting windstorms in Europe caused the largest amounts of insured losses globally in December.
Piracy: Safer seas
With a more stable Somalia and improved maritime security, will the downward trend in piracy attacks continue, or will incidents in East African and South-East Asian waters ensure rough seas in future?
Catlin Bermuda opens Singapore branch
Catlin Group has formed a Singapore branch of Catlin Insurance of Bermuda. Catlin Insurance Company writes specialty lines of direct insurance in Singapore and reinsurance throughout the Asia-Pacific region.
Hong Kong partner moves to law firm in Bangkok
Former Deacons Hong Kong partner Michael Turnbull has joined Tilleke & Gibbins as senior counsel in the insurance group at the firm's Bangkok office.
Axa retains top spot in AM Best insurer rankings
French insurer Axa has held on to the top spot in the AM Best ranking of largest insurers by net premiums written, with Allianz climbing into third place.
Moody’s predicts strong growth for Asian P&C market in 2014
Ratings agency Moody’s is predicting strong growth in the Asian property and casualty insurance sector for 2014 with moderate growth forecast for the European region.
Three senior exec changes for Crawford’s Asia-Pacific operations
Loss adjustor Crawford has announced three senior management changes in its Asia-Pacific region businesses.
Johnson to take on Davey's EMEA role at FM Global
FM Global has confirmed that Chris Johnson, former senior vice president and division manager for Asia Pacific, will take on the EMEA division manager role vacated by Kenneth Davey.
China sets up first marine insurance association
China has launched its first professional marine insurance association called the Shanghai Institute of Marine Insurance.