Hiscox, the specialist insurance group, announced it has reached an agreement to sell the Hong Kong division of its DirectAsia business to Well Link Group Holdings Ltd., a member of a Hong Kong-based financial conglomerate. The transaction, which will allow …
Zurich Insurance is exploring a sale of its Hong Kong and Singapore operations as it reviews its non-core businesses outside Europe, sources familiar with the matter said. The Swiss insurer has discussed the plan with several investment banks but has …
Hong Kong-based marine insurance specialist Latitude Brokers has announced the management buyout of its shareholding previously owned by Cooper Gay Swett & Crawford (CGSC). Financial terms of the deal were not disclosed. Andrew Brooker, Founding Partner of Latitude Brokers said: …
TigerRisk Partners LLC announced its first presence in Asia with the opening of the Hong Kong office of its subsidiary TigerRisk China Partners. TigerRisk China Partners is a member of the Hong Kong Confederation of Insurance Brokers, effective July 30. …
AIA Group Ltd., the third-largest Asia-based insurer by market value, posted a 21 percent increase in new business value as China became its second-largest market for the first time by that measure. The gauge of projected profitability of new policies …
AIA Group Ltd., the third-largest Asia-based insurer by market value, posted a bigger-than-expected 22 percent increase in full-year profit, led by business growth in China and Hong Kong. Net income climbed to $3.45 billion, or 28.73 cents a share, in …
Hong Kong’s appeal to the financial community has withstood pro-democracy protests that threatened to become the city’s biggest political crisis in decades, according to a Bloomberg Global Poll. Eighty-seven percent of the survey’s 510 respondents said the democracy movement that …
PICC Property & Casualty Co., China’s biggest non-life insurer, said it plans to raise 7.25 billion yuan ($1.2 billion) in a rights offer in Hong Kong and China to replenish capital. The shares dropped. The insurer will offer 0.9 rights …
Peak Reinsurance Company Limited formally announced that it has opened for business. The new reinsurer, established to capture the growing demand for modernized reinsurance solutions in Asia Pacific, said it has “successfully obtained the formal authorization by the Office of …
A conglomerate controlled by Thailand’s richest man, Dhanin Chearavanont, has bought a minority stake in China’s Ping An Insurance for $9.38 billion from global bank HSBC, a bold move that ranks as Asia’s second-largest deal this year. Dhanin’s Charoen Pokphand …
