Middle East
Western sanctions threaten to halt Iran's shipping industry
Western sanctions are jeopardising Iran's vital shipping industry, and the country's biggest cargo carrier will face serious problems if the pressure continues, according to the head of the Islamic Republic of Iran Shipping Lines.
Demand for transactional risk cover up 35% in 12 months
Businesses globally are increasingly turning to the insurance market for transactional risk protection in a bid to shield revenue and assets from the risks faced on acquisition and exit or sale, according to a report published today by Marsh.
JLT's Q3 profit warning indicates challenges ahead
Jardine Lloyd Thompson faces significant challenges to its ambition to be a top three global player, according to an Investec analyst note.
BrokersLink launches supply chain tool
BrokersLink has launched Specialized Resources, a risk management service which it says will give members access to tools to help clients identify and quantify potential supply chain risks.
ING reportedly close to sale of Thailand and Hong Kong units
ING Group is nearing an agreement to sell its Hong Kong and Thailand insurance businesses to Richard Li, Reuters reported today, quoting sources close to the matter.
Axa Insurance Gulf opens Dubai branch
Axa Insurance Gulf is opening new offices for the UAE and regional operations in Dubai.
Mapfre eyes Middle East expansion with Turkish acquisition
Mapfre Genel Sigorta, the Spanish insurer's Turkish subsidiary, has acquired 51% of Genel Servis, a motor services firm.
BrokersLink adds 13 new members
BrokersLink today announced the addition of 13 new members at its fourth annual conference in Madrid.
Top five European news stories
The top five European stories from www.insuranceinsight.com over the past seven days.
Top five Asian news stories
The top five Asian news stories from www.insuranceinsight.com over the past seven days.
Willis appoints Plumeri successor
Willis' board of directors has chosen Dominic Casserley, pictured, as the company's next chief executive.
Insuralex elects New York member
International lawyers group Insuralex has added New York practice Kissel Hirsch & Wilmer to its members.
EU extends Iran sanctions to natural gas
The European Union has bolstered sanctions against Iran, including banning the importing of natural gas from the country owing to a "lack of progress in nuclear talks".
Crawford recruits CEMEA business development director
Crawford & Company has appointed Tobias Walter, pictured, as business development director for Continental Europe, the Middle East and Africa.
GlobalOptions and IFIC Forensics form partnership
International anti-fraud investigator GlobalOptions has formed a partnership with British firm International Fire and Investigations Consultants, which provides forensic investigations for insurers, loss adjusters and solicitors.
Global insurance federation vows advocacy role
Thirty-one insurance associations representing 87% of the worldwide insurance business formally established the Global Federation of Insurance Associations today.
Crawford appoints business development head for EMEA
Claims management firm Crawford & Company has appointed Tobias Walter as business development director for the Continental Europe, Middle East and Africa region.
Global power industry sees rising claims
The global power industry continues to see a steady rise in the number of large insured claims, putting pressure on the supply of global power at a time of rising demand and on the future of the industry itself, broker Marsh said a report published today.
Towers Watson scores Willis hedge fund portfolio
Willis has selected pensions consultancy Towers Watson to manage a large portion of its hedge fund portfolio on a fiduciary basis, following a competitive tender.
MS Frontier Re to open Malaysian office
MS Frontier Re plans to establish a new branch office in Malaysia subject to regulatory approval to service its clients in Asia and Oceania.
Iran insures South Korean refiner hit by sanctions
South Korean firms are loading Iranian crude again after a gap of nearly two months caused by the European Union embargo on insurance cover.
Liability insurance buying on the rise for EMEA firms
Companies in Europe, the Middle East and Africa are buying higher levels of liability insurance as fears increase over possible claims during the economic downturn.
Economic downturn driving liability demand
Demand for higher levels of liability insurance has surged across Europe, the Middle East and Africa, according to Marsh.
Investment losses hit MENA insurers' capital
Regulations are tightening for insurers in the Middle East and North Africa as the benign conditions of previous years quickly disappear, according to a report by ratings agency AM Best.