Latest Asia Headlines
All the headlines from our Asia Topic Page, ordered by recency.
Bowring Marsh Opens Tokyo Office
May 20 2010 // Bowring Marsh, the Specialist International Placement Broker at Marsh, has expanded its Asian presence with the opening in Tokyo of its eighth office, which will specialize in property, earthquake and business interruption...
ING’s Good Results Reduce Pressure to Sell Insurance Arm
May 18 2010 // A strong start to the year has taken enough pressure off Dutch bancassurer ING Group to allow it to substantially delay or even potentially scrap the expected 2011 flotation of its insurance business. The talk of ING...
UK’s Prudential Prices $21 Billion Cash Call; Woos Investors
May 17 2010 // British insurer Prudential launched its long-awaited $21 billion cash call and a delayed offensive to woo wary shareholders to back its takeover of rival AIG’s Asian unit. The UK’s Financial Services Authority...
Report: UK’s Prudential to Outline Asia Asset Sales to Fund AIA Buy
May 14 2010 // The UK’s Prudential Plc is expected to outline divestments of some Asian assets in its upcoming rights offering prospectus in an effort to appease shareholder concerns about its planned AIA acquisition, a source...
RMS Licenses Cat Modeling Software Programs to China Re
May 11 2010 // Risk Management Solutions (RMS) announced that China Reinsurance (Group) Corporation, the largest reinsurer in Asia, will “license its catastrophe modeling software to support the expansion of China Re’s...
AIG CEO Benmosche Confident Asian Life Unit Sale Will Go Through
May 11 2010 // American International Group Inc. Chief Executive Robert Benmosche told employees he is confident a $35.5 billion deal to sell its Asian life insurance unit would move forward, a source familiar with the matter...
‘Shock and Awe’ Halts Euro Market Slide – for Now
May 10 2010 // A $1 trillion global emergency rescue package to stabilize the euro reversed the slide in world financial markets on Monday but left longer-term questions about whether Europe’s weakest economies can manage their...
Britian’s Pru, Regulators Close to Deal on Buy of AIG’s Asian Unit
May 10 2010 // Britain’s Prudential has made progress in make-or-break talks with UK regulators over its acquisition of AIG’s Asian arm, and is close to announcing a deal, sources familiar with the matter said. The...
AIG Sale of Asian Unit AIA to Prudential Hits Snag
Apr 28 2010 // Prudential is facing the makings of a shareholder revolt over its $35.5 billion deal to buy AIA, raising the prospect the deal could fail and adding to pressure for a breakup of the British insurer...
Rivalry Haunts Prudential/AIA Integration
Apr 26 2010 // British insurer Prudential will try to reassure investors it can seamlessly absorb the Asian arm of AIG next week when it publishes the prospectus for a record $21 billion cash call to fund the takeover. With shareholders...
If Ash Cloud Lingers, Economic Impact Could Rise Sharply
Apr 19 2010 // The economic impact of the volcanic cloud halting flights across Europe will increase sharply the longer disruption continues, forcing holiday cancellations, delaying deliveries and reducing jet fuel demand. African...
UK’s Prudential Under No Pressure to Cut Price for AIG’s Asian Unit
Apr 19 2010 // UK insurer Prudential Plc is under no pressure from its shareholders to cut the $35.5 billion price it’s paying for AIG’s Asian life insurance unit, the group’s Asia CEO said. “At the very...
El Nino to Influence Climate to Midyear
Mar 31 2010 // The El Nino warming the Pacific Ocean since June has peaked, but is expected to influence climate patterns worldwide up to mid-year before dying out, the World Meteorological Organisation (WMO) said Tuesday. However, the...
Report AIA Senior Executives to Quit Before Prudential Takeover
Mar 25 2010 // Two senior executives from AIG’s Asian operations plan to quit before Prudential’s planned $35.5 billion takeover, according to a source familiar with the matter. Chief Financial Officer Steve Roder and Chief...
RMS to Collaborate with Asia Capital Re to Enhance Asian Cat Models
Mar 24 2010 // Risk Management Solutions announced that it has reached an agreement with Asia Capital Reinsurance Group (ACR) that they will work together to “develop catastrophe risk models enabling ACR to apply the models of...
Ratings Recap: GIC India, Top Layer Re, AIA (Australia), PartnerRe (notes)
Mar 15 2010 // A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of General Insurance Corporation of India (GIC), both with stable outlooks. The ratings...
Lloyd’s Chairman Visits Japan, So. Korea; Urges Closer Ties
Mar 11 2010 // Lloyd’s Chairman, Lord Levene, visited Japan and South Korea last week where he opened the new Lloyd’s Japan office and hosted an event with Korean Re, titled – Lloyd’s – A Working...
Zurich Picks Perritaz to Replace Howie as Asia-Pacific/Middle East CFO
Mar 11 2010 // Zurich Financial Services Group has appointed Pascal Perritaz (37, Swiss citizen) to the position of Chief Financial Officer Asia-Pacific and Middle East (APME), effective April 1, 2010. He replaces Iain Howie, who has...
Aviva Exec Says Prudential/AIA Deal Creates Opportunities for Rivals
Mar 8 2010 // The proposed $35.5 billion takeover of AIA by Prudential Plc will offer opportunities for rival insurers to increase their market share in Asia, a top official at British insurer Aviva Plc said. “For competitors it...
AIG to Get $231 Million If Sale of Asian Unit to Pru Fails
Mar 8 2010 // American International Group Inc. will receive a termination fee of $230.6 million if the sale of its Asian life insurance business to Britain’s Prudential PLC falls through. In a filing with the Securities and...
