March 7, 2012
HSBC has agreed to sell its general insurance businesses to French insurer AXA Group and Australia’s QBE Insurance Group for $914 million in cash, as Europe’s biggest bank moves ahead with its plan to divest non-core assets. The deal, the …
March 5, 2012
American International Group is selling part of its stake in AIA Group to raise about $6 billion to help the U.S. insurer repay a huge federal government bail-out. AIG is looking to place some 1.7 billion AIA shares in a …
January 26, 2012
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 …
December 22, 2011
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 …
November 16, 2011
Hong Kong shares slumped on Wednesday, dragged down by weakness in Chinese insurers and property developers, with turnover low as investors became more averse to riskier assets on fears of contagion from Europe’s festering debt crisis. The Hang Seng Index …
October 14, 2011
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 …
October 14, 2011
AIA Group Ltd, Asia’s No.3 insurer, said growth accelerated in the third quarter, with its value of new business rising 53 percent as strong performance in markets such as Malaysia helped boost earnings. The insurer’s value of new business (VONB) …
September 29, 2011
Typhoon Nesat hit Hainan Island in south China on Thursday after it swept past Hong Kong, closing financial markets, schools and most businesses in one of Asia’s largest financial centers. China recalled ships and suspended flights and ferry services in …
September 22, 2011
Joe Plumeri, the Chairman and CEO of Willis Group Holdings, told more than 100 leading Asian CEOs’ that ‘insurance is not just about coverage and claims, but is about security and survival’ at the KPMG ‘Captains of Industry’ lunch hosted …
August 22, 2011
UK-based broker Miller Insurance Services announced that Martin Giggins has joined the firm’s Hong Kong office to spearhead the development of its financial services business in the Asia region. Giggins specializes in the production and placement of financial risks including …