China
China to expand investment options for insurers
The China Insurance Regulatory Commission is expected to announce policies to improve the competitiveness of insurers through an expansion of their permitted scope of investment.
Reinsurers take stock of Asia-Pacific risks
Reinsurers are bracing themselves for the next catastrophe in the Asia-Pacific region following the spate of catastrophes over the last two years, according to Fitch Ratings.
Top five Asian news stories
The top five Asian stories from www.insuranceinsight.com over the past seven days.
Chinese car insurance market faces further losses
Insurers operating in China's compulsory motor insurance market face further significant underwriting losses in the next two years due to rising claims, tightly regulated pricing and the potential for further competition.
Liberty Mutual receives CIRC approval to open Shandong branch
Liberty Mutual Insurance Group has been granted approval to establish a branch in Shandong province by the China Insurance Regulatory Commission.
China's PICC sees 23.6% rise in profit thanks to motor
China's state-owned PICC Property and Casualty Co has posted a 23.6% rise in net profit for the first six months of the year.
Travel claims double in China with flight delays main culprit
Flight delays are the main reason for claiming on travel insurance policies in China.
Chinese financial institutions need to improve risk management
Competition in the industry and a more complex financial environment now outweigh regulatory factors as key considerations for risk management at large financial institutions in China, according to a survey.
Top five Asian news stories
The top five Asian stories from www.insuranceinsight.com over the past seven days.
Now Health launches China proposition in Shanghai
International health insurance provider Now Health International has opened an office in Shanghai after signing a partnership agreement with Minan Insurance in 2011.
Haikui causes $230m of insured damage in China
Damage from Typhoon Haikui, which hit China last week, has been assessed at ¥1.046bn ($230m).
Chinese motor insurers fail to make profit for fifth year
Chinese motor insurers did not make a profit in 2011 as claims hit ¥11.2bn, according to data from the Industry Association of China.
PowerGuard to provide insurance for Chinese solar firm
PowerGuard Specialty Insurance Services will provide a range of long-term insurance and warranty-related cover for ReneSola, a Chinese manufacturer of solar wafers and modules.
Allianz launches healthcare plans in China
Allianz Worldwide Care is launching international healthcare plans for China that it hopes will appeal to international and local companies.
South Korea poised to resume loading Iranian crude
South Korea and the National Iranian Tanker Company are rumoured to be close to a deal that could see the Asian nation resume the loading of Iranian crude before the end of September.
Typhoon Haikui hits Chinese coast
The third typhoon in a week struck China on Wednesday, with winds of up to 110km per hour, prompting the evacuation of nearly two million people and grounding hundreds of flights across the country.
Typhoon Haikui to cause millions of pounds of insured losses
A typhoon that is sweeping its way through eastern China could cause up to £100m insured losses.
China suffers $8bn economic losses from July floods
Aon Benfield has estimated that the floods in China during July caused economic losses of $8.3bn.
Top five Asian news stories
The top five Asian stories from www.insuranceinsight.com over the past seven days.
Two storms take aim at China after hitting Taiwan
Typhoon Saola, the ninth typhoon of the Northwest Pacific storm season, made its first landfall early on Thursday morning local time in Hualien, Taiwan.
Chinese insurers pay out ¥900m in flood claims
Insurance companies in Beijing have paid out ¥900m ($142m) in compensation after the damage caused by the floods on 21 July, the China National Radio website reported.
China Taiping exits NZ market amid rumours of reinsurance difficulties
China Taiping Insurance is withdrawing from the New Zealand market with immediate effect.
Top five Asian news stories
The top five Asian stories from www.insuranceinsight.com over the past seven days.
Chinese insurers to benefit from broader investment scope
The relaxation of investment rules for Chinese insurers should allow them to match the duration of their assets and liabilities more accurately and benefit from improved earnings stability, Fitch believes.