Latest Asia Headlines
All the headlines from our Asia Topic Page, ordered by recency.
AIG CEO Liddy Says Asset Sales May Be Delayed
Dec 11 2008 // The CEO of U.S. insurer American International Group (AIG), which is looking to shed assets around the globe as part of a $152 billion U.S. government rescue package, said that difficult markets may delay the sale plans,...
Best Releases Study of Asian Insurers
Dec 2 2008 // A.M. best Co. has issued a new study of Asian insurance companies, which concludes that they “are expected to avoid major liquidity problems stemming from the global financial crisis, but investment income will...
Munich Re Sees Reinsurance Opportunities from Financial Crisis
Nov 25 2008 // A bulletin on Munich Re’s web site (www.munichre.com) opens as follows: “The financial crisis has sent stock markets plunging around the world and resulted in growing levels of risk aversion. Stringent risk...
ICC Asia Pacific CEO Forum Says Unlock Liquidity to Spur Global Trade
Nov 25 2008 // The first Regional CEO Forum for Asia-Pacific held by the International Chamber of Commerce (ICC) in Hong Kong Saturday called for an immediate response to the financial meltdown by unlocking liquidity and getting trade...
Ratings Recap: Malaysian Re, Asia Capital Re, AGS (Diageo), NEMI
Nov 25 2008 // A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and the issuer credit rating of “a-” of Malaysian Reinsurance Berhad (Malaysian Re), both with stable outlooks....
China Life Interested in Acquring AIG Asia Assets
Nov 24 2008 // China Life Insurance Co, the world’s biggest life insurer by market value, is interested in buying Asian assets of American International Group, a senior China Life manager briefed on the situation said on...
Somali Strategy Could Spur Asian Pirate Attacks
Nov 19 2008 // In high seas and heavy rain, the supertanker Kasagisan was steaming through the Malacca Strait in February when it was suddenly surrounded by six small boats. The crew of the vessel, heading from Saudi Arabia to Japan with...
Zurich Expands Riddell’s Role to Asia-Pacific, Middle East
Nov 18 2008 // Zurich Financial Services Group announced that, effective January 1, 2009, Geoff Riddell, the current CEO of Global Corporate, will assume additional responsibilities overseeing the Group’s operations in the...
Ex-CEO Greenberg Sees Value in AIG Asian Operations
Nov 13 2008 // Maurice “Hank” Greenberg, former CEO of American International Group Inc., said he would consider buying AIG’s Asian life insurance operations if the firm were to put this flagship business on the...
Prudential Eyeing AIG Life Insurance Assets Beyond Asia, Says CEO
Oct 24 2008 // British life insurer Prudential is considering bidding for more than just the Asian operations of American International Group , its chief executive told the Financial Times on Friday. Prudential, the UK’s...
EC’s Barroso Says Crisis Needs Heightened Coordination
Oct 23 2008 // The current financial crisis will require unprecedented levels of global coordination to resolve it because no country is immune to its effects, European Commission President Jose Manuel Barroso said on Thursday. Speaking...
India’s Tata Sons Eyes Stake in AIG Asia Unit, Sources Say
Oct 17 2008 // India’s Tata Sons has been in talks to buy a stake in AIA, a major Asian unit of American International Group, sources close to the matter said. The U.S. insurance giant has been seeking to sell assets after nearly...
Seattle To Provide Asian Communities With Fraud Prevention Tools
Oct 6 2008 // Washington Attorney General Rob McKenna and five interpreters are planning to help educate Seattle’s Asian communities about fraud prevention. McKenna’s office, the Asian Pacific American Resource Network...
Lawmakers to Tackle Wall Street Bailout Plan Again Today
Sep 26 2008 // U.S. congressional leaders will try again on Friday to save a $700 billion Wall Street rescue plan after talks broke down in acrimony against the backdrop of the nation’s biggest-ever bank failure. As negotiations...
Endurance Management Postings Expand International Operations
Sep 9 2008 // Bermuda-based Endurance Specialty Holdings Ltd. announced several new leadership appointments in its international reinsurance operation servicing non-US clients. Laurent Beauregard has been appointed Senior Account...
Jeanbart Named Marsh CFO-Asia
Aug 22 2008 // Marsh announced the appointment of Maurice Jeanbart as Chief Financial Officer for Asia, a new role for the region. He will be based in Singapore and report dually to Alan Cheah, CEO Asia and Robert Pietrucha,...
International Chamber of Commerce is Pessimistic on Global Economy
Aug 21 2008 // The International Chamber of Commerce (ICC) reported from its Paris office that its “ICC/Ifo global climate index in July fell for the fourth consecutive quarter in a row since sentiment became downbeat last summer,...
People
Aug 21 2008 // W.R. Berkley Corp. named William M. Rohde Jr. president of Acadia Insurance Co., succeeding Bill Thornton, who now is chairman of Berkley Regional Specialty Insurance Co. Walter E. Stradley remains president of Berkley...
Ratings Round Up Mitsui Sumitomo: Taiwan, Singapore, Hong Kong
Jun 30 2008 // Standard & Poor’s Ratings Services has raised its counterparty credit rating and insurer financial strength rating on Taiwan-based Mingtai Fire & Marine Insurance Co. Ltd. to ‘AA-‘ from...
Reagan Joins Aon Construction Group, Focusing on Europe, Asia
Jun 30 2008 // Aon Corp. reports that Mark Reagan, former chairman of the Willis Construction practice, has joined Aon Construction Services Group as managing director. Reagan will be responsible for supporting the international practice...
