Latest Asia Headlines
All the headlines from our Asia Topic Page, ordered by recency.
Chubb Enters Bancassurance Distribution Agreement with Singapore’s DBS Bank
Sep 29 2017 // Chubb Ltd. announced it has entered into a 15-year distribution agreement with DBS Bank, the largest banking group in Southeast Asia. Under the terms of the agreement, Chubb will distribute general insurance products on an...
AIA Buys Commonwealth Bank of Australia’s Life Insurance Business for A$3.8B
Sep 21 2017 // AIA Group Ltd. agreed to buy Commonwealth Bank of Australia’s life insurance business for A$3.8 billion (more than $3 billion), in its most ambitious foray beyond the Hong Kong-based company’s core markets in...
Asia’s Ride-Hailing Firms Compete with Banks – and Ultimately Insurers: Opinion
Sep 5 2017 // In Southeast Asia, mobile banking is taking on a whole new meaning. Last week, Grab, one of the region’s top ride-hailing companies, announced that users of its app can start sending credits — used to pay for...
Devastating S. Asia Floods Kill 1,400, Expose Lack of State Planning for Monsoons
Sep 1 2017 // The most devastating floods to hit South Asia in a decade have killed more than 1,400 people and focused attention on the poor planning and lack of preparedness for annual monsoon rains, as authorities struggle to get aid...
Toyota Makes Strategic Investment in Grab, SE Asia’s Leading Ride-Sharing Firm
Aug 30 2017 // Toyota Motor Corp. is pushing deeper into the ride-sharing business. The Japanese carmaker is making a strategic investment in Grab, Southeast Asia’s leading ride-hailing operator, and said it will work with the...
Mitsui Sumitomo Buys Singapore’s First Capital Insurance from Fairfax for $1.6B
Aug 24 2017 // Mitsui Sumitomo Insurance Company (MSI) is acquiring Singapore’s First Capital Insurance for $1.6 billion from Canada’s Fairfax Financial Holdings, in the biggest takeover by a Japanese insurer in populous...
QBE H1 Profits Rise 73% on Australia/N. Zealand Rate Hikes, N. America Growth
Aug 21 2017 // QBE reported a healthy profit hike during first half of 2017, despite heightened claims activity in its Emerging Markets’ division, which reported a combined ratio of 110.8 percent. This poor performance has led to...
Group Led by Yunfeng Financial to Buy MassMutual’s Asia Unit for $1.7B
Aug 18 2017 // A group led by Yunfeng Financial Group Ltd., the company backed by billionaire Jack Ma, agreed to buy an Asian unit from Massachusetts Mutual Life Insurance Co. to add insurance products to the array of financial services...
Arctic Thaw to Help Russian Ships Navigate New Route to Asia
Aug 11 2017 // Russian shipping in the Arctic is benefiting from winds that are driving the oldest and thickest sea ice towards North America, further opening a remote region that is thawing amid global warming, scientists say. The...
Asia Floods Bring Economic Damages of More Than $10B in July: Aon Report
Aug 9 2017 // The vast majority of global natural disasters during July were the result of severe flooding across the Asian region, bringing more than $10 billion in economic damages, according to a report published by Impact...
Markel Taps Sompo Canopius’ Holcroft as Contract Frustration & Political Risk U/W
Aug 8 2017 // Markel International, the the London-based specialist insurer and Markel Corp. subsidiary, has appointed Alex Holcroft as political risk underwriter in Singapore. He joins the existing trade credit and political risk team...
XL Catlin Offers Cyber & Data Protection Policy in Asia Pacific
Aug 2 2017 // XL Catlin announced it has launched its Cyber and Data Protection insurance policy in Asia Pacific. With cyber risk ranking in the top 10 in today’s emerging risks, the new policy is designed to protect businesses...
Guy Carpenter Names Gallagher CEO of Asia Pacific Region; Jones Is Chairman
Aug 2 2017 // Guy Carpenter & Co. announced that Tony Gallagher has been appointed CEO of the Asia Pacific Region, with immediate effect. In addition, Richard Jones has been promoted to chairman of the region. Most recently CEO of...
FM Global Names Tranquillo as SVP EMEA/APAC, Johnson as VP Asia Region
Jul 28 2017 // FM Global, the Johnston, R.I.-based commercial property insurer, has made key changes to its management team, moving Stefano Tranquillo and David M. Johnson into new roles in EMEA/Asia Pacific and the Asia region. Stefano...
Aetna Acquires Bupa Thailand to Expand in Asia Health Insurance
Jul 25 2017 // Aetna Inc. announced it has acquired UK-based Bupa Group’s Thai business, Bupa Thailand, for an undisclosed sum. The acquisition will significantly increase Aetna’s presence in Asia, and is key to the...
UK’s Aviva to Sell Asia/Middle East Life Unit to Focus on Core Markets
Jul 19 2017 // Aviva, Britain’s biggest life insurer, said it would sell Friends Provident International (FPIL), which provides life assurance and investment products in Asia and the Middle East, to a unit of International...
RMS Launches New Models for Tropical Cyclone & Earthquake in Asia Pacific
Jul 12 2017 // RMS, the Newark, Calif.-based risk modeling and analytics firm, has introduced typhoon models for wind and flood for South Korea and Taiwan, plus four new earthquake models for Singapore, Malaysia, Thailand and...
Guy Carpenter Launches Unit Offering Retrocession Services to Asia-Pacific Clients
Jun 29 2017 // Guy Carpenter & Co. has launched a new unit offering dedicated retrocession services to clients in the Asia Pacific region called GC Asia Pacific Retro. GC Asia Pacific Retro provides a wide range of retrocession...
Allianz Global Corporate & Specialty Opens S. Korea Branch Office; CEO Named
Jun 29 2017 // Allianz Global Corporate & Specialty (AGCS), Allianz Group’s unit for corporate & specialty insurance business, has opened a branch office in South Korea to serve global corporate clients. AGCS said it has...
Allianz Sets Its Sights on Asia-Pacific’s ‘Growth Engine’
Jun 21 2017 // Allianz SE, the German insurer that stemmed outflows at U.S. asset manager PIMCO, is now trying to bulk up on the other side of the world. “Asia is still a relatively small part of the overall global portfolio but it...
