China
Lloyd's Insurance Co China's 'A' rating affirmed
AM Best has affirmed the financial strength rating of A (Excellent) and issuer credit ratings of 'A+' of Lloyd's (UK) and Lloyd's Insurance Company (China) Limited.
Insured losses from Chinese storms expected to reach $78.7m
Insured losses from the severe storm that struck Beijing last Saturday are estimated at ¥500m ($78.7m), the city's insurance regulatory commission said on Thursday.
Ince & Co opens office in Beijing
Ince & Co expands Greater China capability with new office in Beijing.
Insured losses from Vicente estimated to be $100m to $300m
Economic losses from typhoon Vicente, which struck Hong Kong on 23 July, are expected to be $600m to $1.5bn, catastrophe modelling firm Eqecat said.
Clyde & Co partner goes live with new City law firm
David Coupe, pictured, former partner at Clyde & Co and Ince & Co, has launched a new City law firm focused on representing the intermediated insurance market.
Insured losses 'low' as Typhoon Vincente sweeps through China
Up to 37 people are dead and 700 homes were flooded after Beijing was devastated by the heaviest rainfall to hit the city since 1951.
Draft rules offer China's insurers more investment scope
Chinese insurers will be able to double their investments in private equity along with trading financial derivatives at home and abroad, according to Reuters.
HK Stock Exchange resumes trading as typhoon warning lowered
Hong Kong lowered its cyclone warning on Tuesday and its markets resumed trading after Typhoon Vicente, the most intense storm to hit the city since 1999, moved towards China.
Heavy rain in Beijing brings deluge of motor claims
Property and car insurers have been inundated with claims after the heaviest rain in six decades hit Beijing on Saturday.
Willis restructures international operations
Willis International has reorganised its Asia Pacific, Middle East and Africa operations amid a management resuffle.
Chinese fraud poll
Is insurance fraud as much a problem in China as it is in some parts of Europe?
Asian enterprise risk management gathering steam
The Asia insurance sector lags behind Western markets in terms of enterprise risk management. Nicky Burridge investigates the issues bringing the matter to the top of the agenda.
GWP for Chinese insurers up nearly 6% in H1
China's insurance companies posted 5.9% premium growth in the first half of 2012, statistics released by the country's insurance regulator showed.
China Property & Casualty Reinsurance to use AIR catastrophe models
China Property & Casualty Reinsurance Company has licensed AIR's typhoon, earthquake and multiple-peril crop insurance models for China to better manage its catastrophe risk.
Top five Asian news stories
The top five Asian stories from www.insuranceinsight.com over the past seven days.
Nat-cat losses dip below average for first six months of 2012
Natural catastrophe losses for the the first six months of 2012 were $26bn, well below the six-month average of recent years, according to Munich Re.
Hannover Re installs Agencyport 'what if' risk management suite
Hannover Re has installed Agencyport risk management software in six of its Worldwide offices and will roll out to further offices in due course.
Huge opportunities for anti-fraud measures in China, says FICO
Chinese non-life insurer Huatai was hailed as a pioneer this week after it became the first insurer in the region to deploy insurance fraud protection. John Chen, managing director of FICO, which provided the anti-fraud solution, spoke to Insurance…
Iranian crude finds Asian buyers despite insurance sanctions
Iran is still shipping oil to China, and Japan looks likely to resume imports in August, as Iran continues to circumvent Western sanctions on ship insurance, Reuters reported.
Lloyd's of London's rating confirmed at 'A+'
Lloyd's of London has had its insurer financial strength rating affirmed at 'A+' by Fitch.
Huatai is "first Chinese firm to deploy fraud protection"
Chinese property insurer Huatai is to use Fico Solutions’ fraud protection product in an effort to reduce losses from auto insurance claims fraud and accelerate its claims processing.
CIRC guidelines aim to entice private investment in insurance
China's insurance regulator has unveiled guidelines designed to encourage private investment in the state-owned, asset-dominated insurance industry, the China Daily reported.
PICC may delay listing owing to market turmoil
Reports suggest that state-owned insurer PICC Group will delay listing on the Hong Kong stock exchange until October due to difficult market conditions.
CIRC outlines plan for private investors to own 20% of a single Chinese insurer
The China Insurance Regulatory Commission has revealed that an individual private investor would be able to own a fifth of a single insurance company, as part of new proposals.