Hong Kong News

An Avian Flu Pandemic: Much ado about nothing?

It’s reasonable to assume that an avian flu pandemic could take flight in the near future, and companies need to prepare a response, according to Rick Casse, former director of business continuity planning for Gap Inc. Keeping that in mind, …

CIGNA Extends International Health Care Service Links

CIGNA International has extended its expatriate benefit service through the expansion of its “CIGNALinks(R)” chain to Hong Kong, China, Taiwan, Spain and five countries in the Middle East – the Kingdom of Saudi Arabia, the United Arab Emirates, Bahrain, Qatar, …

Revenue is King for P/C Insurers, But Bigger Isn’t Better, Study Reports

A comprehensive study of property and casualty insurance companies in North America, Western Europe and Australia has determined that the top line is more often the bottom line than previously thought. Bain finds that the revenue growth holds the strongest …

AXA Gives Donnet Greater Role in Japan, Asia-Pacific; Penn to Head Australia/NZ

France’s AXA Group has appointed Philippe Donnet to the position of AXA Group Regional CEO – based in Singapore – to oversee AXA’s principal insurance businesses in the Japan & Asia-Pacific region, effective October 1. The appointment confirms AXA’s intention …

Powerful Typhoon Kills 83 in China

The most powerful typhoon to hit China in five decades raged across its southeastern coast Thursday, claiming at least 83 lives as it capsized ships, destroyed buildings and forced 1.5 million people from their homes. Typhoon Saomai, with winds up …

Guy Carpenter Opens Taipei Office

Guy Carpenter & Company, Inc., the global risk and reinsurance specialist of the Marsh & McLennan Companies, announced that it has opened a new office in Taipei, Taiwan, “enhancing its leading position in the Asia Pacific region.” The bulletin also …

China Evacuates 433,000 Before Storm

More than 433,000 people have been evacuated from parts of China’s southeastern coast that are due to be hit by Typhoon Saomai, a government news agency reported Thursday Saomai was expected to hit the mainland on Thursday in Fujian and …

Outlook For China’s Insurance Sector Now Positive

Standard & Poor’s Ratings Services revised its outlook on China’s insurance sector to positive from developing to reflect expectations that the financial strength of the overall industry will improve over the medium term. In a new publication titled “China Insurance …

Taiwan May Relax Investment Rules to Compete with China

The Taiwan government may allow a number of companies to invest more in rival China but will not grant an overall relaxation of its investment restrictions, a senior government official said. Taiwan plans to hold a two-day economic forum in …

Business Moves

Starr Aviation Agency, Chubb Starr Aviation Agency Inc., a wholly-owned specialty subsidiary of C.V. Starr & Co. Inc. and The Chubb Corp. entered into an underwriting agreement under which Chubb will provide hull and liability coverage to Starr Aviation’s general …