American International Group Chairman Steve Miller said on Thursday the bailed-out insurance company may eventually want to buy a life insurer outside the United States, including possibly a larger stake in the spun-off Asian unit AIA Group Ltd. as confidence …
A.M. Best Co. has affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating of “a” of Hong Kong-based NIPPONKOA Insurance Company (Asia) Limited, both with stable outlooks. The ratings reflect the company’s “excellent risk-adjusted capitalization, stable underwriting …
Insurance in emerging markets has “experienced strong growth over the past decade and the outlook for the next decade remains promising,” a Swiss Re sigma study concludes. However, it also notes that “given the expectation of persistent low interest rates …
AXA SA and Assicurazioni Generali SpA are among bidders shortlisted for HSBC Holdings Plc’s planned sale of its general insurance business, sources familiar with the matter told Reuters. HSBC, Europe’s biggest bank, launched the sale in September in a deal …
Insured losses from Thai floods could be in the double-digit billions of dollars and the disaster will lead to a re-assessment of weather risks to industries in Asia, a senior official from global insurer Allianz said. Calculating the true cost …
Manulife Financial said it has received approval to establish operations in Cambodia, which will expand the Canadian insurer’s reach into an 11th Asian market. Manulife said in a statement it had “approval in principle” from Cambodia’s Ministry of Economy and …
Aon Benfield has published a highly detailed report on the ongoing floods in Thailand, from their meteorological beginnings – extremely heavy monsoon rains – to the widespread damage they have inflicted on one of East Asia’s most vibrant economies – …
Manufacturers of car parts and computer hard drives are the worst hit in Thailand, and face a bleak key holiday selling season due to massive floods, which have shut down production. Japanese car makers that had just started to recover …
Countries and megacities in Africa and Asia are among the most vulnerable to the impacts of climate change over the coming years, a global survey shows, underscoring the risks from floods, rising sea levels, droughts and storms. With populations in …
European insurers AXA SA, Assicurazioni Generali SpA, Japan’s Tokio Marine and MS&AD Insurance Group are among suitors to submit first round bids for HSBC’s non-life insurance business, sources with knowledge of the matter told Reuters, in a deal worth about …
