China
Allianz to target Bric countries after extending 60 year old VW deal
Volkswagen Financial Services and Allianz Global Automotive have today signed a letter of intent, agreeing to strategically expand their 60 year-old successful partnership and to continue it in the long term.
BIS countdown - Douglas Williams: Speaking economically
With a track record in successfully predicting the economy, Douglas McWilliams gives Jonathan Swift his current forecast.
Insurance exports hit a new high according to The City UK report
Net UK insurance exports reached a record £8.3bn in 2009 according to a new report.
Bowring Marsh opens Hong Kong office
The specialist international placement broker at Marsh has expanded its footprint in Asia with the opening of its ninth Hong Kong office.
Lloyd's faces 12 month Chinese deadline admits CIO
Lloyd’s has been set a testing 12 month deadline by the Chinese authorities to establish its underwriting platform.
Haiti and Mozambique most vulnerable to economic losses from natural disasters
Italy, Japan, China, USA, Spain and France also rated “high risk” on The Natural Disasters Economic Loss Index (NDELI), released by risk intelligence and ratings company, Maplecroft.
Non-life weathers storm
In the UK non-life premiums fell 3.1% to $92bn (£61bn) in 2009 (which ranked it fourth behind the US, Japan and Germany) out of a total of $309bn (which ranked the UK third behind the US and Japan), and that insurance penetration was 12.9%, according to…
Swiss Re: global non-life premium dips 0.1% in 2009 to $1 735bn
According to Swiss Re’s latest “World insurance in 2009” sigma study, world insurance premium volume fell 1.1% on an inflation-adjusted basis.
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.
Levene laments 2010, the year of "direct hits"
The chairman of Lloyd’s has described 2010 as the year of “direct hits”.
Mexican body joins international trading agreement
The International Association of Insurance Supervisors has admitted Comision Nacional de Seguros y Fianzas, Mexico to the list of signatories of the IAIS Multilateral Memorandum of Understanding.
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.
Postscript - 10 years ago: Europeans get Chinese permission
Looking through Post's back cataloguepaints a unique picture of more than 150 years of insurance news, as this highlight from 10 years ago reveals.
Bangladesh, Indonesia and Iran top natural disaster ranking
Bangladesh, Indonesia and Iran have been rated as the nations most at risk from extreme weather and geophysical events according to a new study ranking 229 countries on their vulnerability to natural disasters.
Carrer development & CSR news: Lloyd's and syndicates extend support for Chinese school
Lloyd's has donated a further £50 000 towards the development of a primary school in the remote Chinese province of Yunnan. The funding from Lloyd's China and its syndicates will enable 120 extra students to attend the school following construction of a…
London P&I Club increases free reserves by 22% in 2009/10
THE London P&I Club has reported a financial year surplus of $25.9m for the year ended 20 February 2010.
Lloyd's insurer welcomes China licence move
Lloyd’s being granted a direct insurance licence in China will give “a significant boost” to Sportscover’s business from China, according to its managing director, Peter Nash.
Lloyd's China granted licence to write direct insurance
Lloyd’s China has been granted a licence by the China Insurance Regulatory Commission to write direct insurance in addition to their existing reinsurance licence.
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.
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 %.
China Pacific 2009 profit soars
China Pacific Insurance, China’s third-biggest insurer, said profit almost tripled last year after a rally in the domestic stock market lifted investment returns.
Quake kills up to 400 in China’s Qinghai province
Thousands are feared injured after a magnitude-6.9 quake hit western China's Qinghai province.
Scor granted licence to expand China operations
Scor obtains a composite reinsurance license in China, enabling it to add life and health reinsurance services to existing non-life activities
US puts further pressure on the UN for Iran sanctions
US President Barack Obama said on Tuesday he wanted tougher U.N. sanctions in weeks against Iran over its nuclear program. This follows proposed US sanctions including (re)insurance