Latest Asia Headlines
All the headlines from our Asia Topic Page, ordered by recency.
Global Commercial Insurance Prices Increase 11% in 4th Quarter 2019: Marsh
Feb 12 2020 // Global average commercial insurance prices increased 11% in the fourth quarter of 2019, according to the Global Insurance Market Index released by insurance broker Marsh. The fourth quarter rise in prices was the largest...
Prudential in Talks to Fully Control China Venture; Weighs Sale of U.S. Business
Feb 7 2020 // Prudential is in talks that could lead to it taking full control of its 50:50 joint venture with China’s CITIC and is considering selling some or all of its U.S. business to sharpen its focus on Asia, a source told...
Airlines Under Pressure to Halt Flights to China; Update on Cancellations
Jan 31 2020 // Pilots and flight attendants are demanding airlines stop flights to China as health officials declare a global emergency over the rapidly spreading coronavirus, with American Airlines’ pilots filing a lawsuit seeking...
Global Coronavirus Cases Soar to 10,000 as WHO Declares Health Emergency
Jan 31 2020 // The U.K. confirmed its first two cases of coronavirus on Friday, while the U.S. and Japan advised citizens to avoid traveling to China. Singapore suspended visas issued to Chinese citizens. Stocks fell in Europe and Asia...
China’s Mysterious Respiratory Virus Spreads to Health Workers, Different Countries
Jan 21 2020 // China’s mysterious respiratory virus has caused six deaths and infected a number of medical workers, a sign the outbreak has entered a new phase with the illness spreading from person to person. Health-care workers...
Willis Re Names Green as Head of Int’l Casualty Reinsurance, Philipsz as Australia CEO
Jan 21 2020 // Willis Re, the reinsurance broking business of Willis Towers Watson, announced the appointment of Cameron Green as head of its International Casualty Reinsurance practice as well as chair of Willis Re Australia. In this...
Generali’s Europ Assistance Opens Office in Thailand
Jan 16 2020 // Europ Assistance, the Generali subsidiary, announced it has opened an office in Thailand, expanding the company’s commitment to the Asia region where it has operated for the past 30 years. Europ Assistance now...
Liberty Mutual Re Opens Office in Singapore, Appoints Leong from Aspen Re
Jan 14 2020 // Liberty Mutual Re (LM Re), part of Liberty Mutual Insurance Group, announced it has opened an office in Singapore and appointed Annie Leong as regional underwriting manager for LM Re in Asia Pacific. “As LM Re...
Piracy Surges Along Southeast Asia’s Straits of Malacca and Singapore
Dec 27 2019 // Piracy has surged this year along Southeast Asia’s straits of Malacca and Singapore, one of the world’s busiest trade routes, according to a watch group that tracks maritime security. Incidents along the...
Vietnam-Linked Hackers Steal Intellectual Property from Competitors: Experts
Dec 24 2019 // A Vietnam-based hacking group is learning from China’s playbook, using increasingly sophisticated cyber attacks to spy on competitors and help Vietnam catch up to global competitors, according to cyber-security...
Sirius Expands Facultative Cover, Tapping Underwriters from Asia Capital Re
Dec 24 2019 // Bermuda-based Sirius International Insurance Group Ltd. announced it is expanding its facultative product offerings in the Asian region to better service its clients, beginning in early 2020. Through its office in...
Legacy Specialist Catalina Holdings to Acquire Asia Capital Reinsurance Group
Dec 5 2019 // Catalina Holdings (Bermuda) Ltd., the legacy re/insurance specialist, has reached an in principle agreement to acquire Asia Capital Reinsurance Group Pte. Ltd. (ACR), a Singapore-based reinsurance business. The acquisition...
Berkshire Hathaway Specialty Insurance Offers Commercial Crime Cover in Asia Market
Dec 2 2019 // Berkshire Hathaway Specialty Insurance (BHSI) announced that it is introducing Commercial Crime Insurance in Asia, a new policy designed to help companies address the exposures of a changing fraud landscape. BHSI’s...
Aviva to Retain China, Singapore Businesses After Conducting Asian Review
Nov 18 2019 // Aviva Plc, the U.K. insurer that’s overhauling some businesses as part of its chief executive officer’s turnaround plan, is to retain its Chinese joint venture as well as assets in its biggest market,...
Insurance Premiums to Grow 3% Despite Economic Slowdown: Swiss Re
Nov 14 2019 // Global insurance premiums will grow 3 percent on average over the next two years even with an emerging global economic slowdown, Swiss Re said in its latest sigma report. Rising lost costs will fuel the moderate but steady...
Catastrophe Insurance Data Firm PERILS Expands Coverage to New Zealand
Nov 1 2019 // PERILS, the independent Zurich-based company that provides industry-wide catastrophe insurance data, announced it has extended its market coverage to include New Zealand. PERILS is now making available market-wide property...
All Countries at Risk from Spread of African Swine Fever: OIE
Oct 31 2019 // African swine fever will spread further across Asia where it has devastated herds, and no country is immune from being hit by the deadly animal virus, the head of the World Organisation for Animal Health (OIE) said on...
TMK Launches Flagship Cyber Product, Cyber Ctrl, in Asia
Oct 31 2019 // Tokio Marine Kiln (TMK) has launched its flagship cyber product, Cyber Ctrl, targeted at insurers in Asia. The product covers a range of first party losses including business interruption and provides clients with crisis...
PCS Extends Catastrophe Loss Methodology to Australia, N. Zealand, SE Asia
Oct 30 2019 // Property Claims Services (PCS), a Verisk subsidiary, has extended the catastrophe loss aggregation methodology, previously developed for use in Japan, to cover more territories in the region. Starting Jan. 1, 2020, PCS...
Cyber Attack on Asia-Pacific Ports Could Cost $110B, Hitting Global Supply Chains
Oct 30 2019 // A single cyber attack that affects major ports across Asia-Pacific could cost $110 billion, which is roughly equivalent to half of all losses from natural catastrophes globally in 2018*, according to research from...
