Latest Asia Headlines
All the headlines from our Asia Topic Page, ordered by recency.
Half of 2012’s Global Economic Losses Due to U.S. Natural Disasters: Aon
Feb 11 2013 // While global economic losses were close to average in 2012, insured losses were 36 percent higher than the 10-year average ($72 billion versus $53 billion) because the two most costly events of the year occurred in the...
Russia Arctic Natural Gas Shipping Route to Asia 10 Years Away
Jan 28 2013 // Tanker transport of Russian Arctic gas through the Bering Strait to Asian buyers is at least 10 years away because of ageing infrastructure, vessel shortages and growing disputes over waterway rights. Thawing sea ice...
Half of 2012’s Global Economic Losses Due to U.S. Natural Disasters: Aon
Jan 24 2013 // While global economic losses were close to average in 2012, insured losses last year were 36 percent higher than the 10 year average ($72 billion vs. $53 billion) because the two most costly events of the year occurred in...
Aon Benfield’s 2012 Cat Review Finds 36% Rise in Insured Losses at $133 Billion
Jan 24 2013 // Impact Forecasting, the catastrophe model development center of excellence at Aon Benfield, has published its Annual Global Climate and Catastrophe Report along with the establishment of a new website, Catastrophe Insight,...
Peak Re Launched in Hong Kong for ‘Underserved’ Asia Pacific Markets
Jan 10 2013 // Peak Reinsurance Company Limited formally announced that it has opened for business. The new reinsurer, established to capture the growing demand for modernized reinsurance solutions in Asia Pacific, said it has...
BMS Group Opens Sydney Office
Jan 4 2013 // The UK’s BMS Group, an independent global broker, has announced the opening of its Sydney office, which it said “marks another significant strategic goal for the group, with its first office in the Asia-Pacific...
Cooper Gay Targets Treaty Business in Asia with Yip Appointment
Dec 19 2012 // Independent insurance and reinsurance intermediary Cooper Gay, has appointed David Yip as Head of Treaty for Cooper Gay Hong Kong, as part of its expansion drive in Asia. “Yip will place particular emphasis on...
Best Special Report Focuses on Asia-Pacific Insurers Cat Loss Challenges
Dec 17 2012 // A special report from A.M. Best analyzes the “reduced frequency of large-scale catastrophes through November 2012, which, Best said, has “helped Asia-Pacific non-life insurers to slowly recover from losses...
AIG May Raise up to $6.5 Billion through AIA Share Sale – Sources
Dec 17 2012 // American International Group may raise as much as $6.5 billion from the sale of its remaining stake in AIA Group Ltd in Asia’s second-largest block sale ever, exiting a business the U.S. insurer started nearly 100...
AIG’s $4.8 Billion Sale of Aircraft Unit to Chinese Group Faces U.S. Security Review
Dec 10 2012 // American International Group Inc. is to sell nearly all of ILFC , the world’s second-largest airplane leasing business, to a Chinese consortium for up to $4.8 billion, giving the fastest growing aviation market...
UPDATE: Chinese Group to Buy AIG’s Plane Leasing Unit for up to $4.8 Billion
Dec 10 2012 // American International Group has agreed to sell nearly all of ILFC , the world’s second-largest airplane leasing business, to a Chinese consortium for up to $4.8 billion, giving the fastest growing aviation market...
Willis International Announces European Leadership Appointments
Dec 4 2012 // Willis Group Holdings has announced a series of senior leadership appointments in its Willis International business unit, “focusing on its UK and wider European operations.” Willis also explained that the new...
South to Head Marsh’s Combined Asia-Pacific; Piccolomini Continental Europe
Nov 29 2012 // Marsh has embarked on a major reordering of its regional activities, which it said is “in order to align the delivery of its global capabilities more closely to the needs of clients around the world.” Marsh has...
Willis Launches ‘DARCstar’ Directors’ All Risks Cover in Asia-Pacific Region
Nov 14 2012 // Willis Group Holdings announced the launch of its directors’ all risks cover (DARCstar) in Australia, Hong Kong and Singapore, which it said offers “unique” coverage. Willis explained that “DARCstar...
Foreign Insurers Enter Myanmar Market with Hope, Caution
Nov 7 2012 // The world’s top insurance firms are setting their sights on Myanmar, steeling themselves for a fight with corruption and ghosts from the nation’s political past. Prudential Plc, AIA Group Ltd and Manulife...
Xchanging Unveils Plans for More Asian Expansion
Nov 5 2012 // Xchanging, the business process, procurement and technology services provider and integrator, has announced its intention to open new delivery centers at two locations in Asia. The service provider already operates in 11...
Hong Kong’s Li Returns to Insurance with $2.1 Billion ING Deal
Oct 19 2012 // Hong Kong businessman Richard Li, the younger son of Asia’s richest man, is buying ING’s Hong Kong, Macau and Thailand insurance units for $2.14 billion in cash, bringing the Dutch financial services company a...
Hong Kong’s Li Nears $2 Billion Acquisition of ING Units: Reuters
Oct 18 2012 // Hong Kong businessman Richard Li, younger son of Asia’s richest man Li Ka-shing, is nearing a deal to buy ING’s Hong Kong and Thailand business for over $2 billion, sources with direct knowledge of the matter...
ING to Sell Malaysian Insurance Unit to AIA for $1.73 Billion
Oct 11 2012 // Pan Asian insurer AIA Group Ltd has agreed to buy ING’s Malaysian insurance operations for $1.73 billion in cash, handing the Dutch financial services firm its first deal in a nine-month drive to sell off Asian...
India’s Battered Insurers May Need More than Foreign Investment
Oct 10 2012 // India’s proposal to allow more foreign investment in its $41 billion insurance business provides a lifeline for an industry starved of capital and squeezed by regulation – but it may not pass parliament and it...
