The U.K.’s Aviva (ex-CGNU) has agreed to sell its Asian non-life business to Japan’s second largest general insurer (after Tokio Marine) Mitsui Sumitomo Insurance Co Ltd. (MSI), for £249 million ($443 million). The move is in line with the British …
ACE Overseas General, the non-U.S. insurance operations of The ACE Group of Companies, announced from Bermuda that Neil C. Smith has been appointed as President of ACE Far East. He succeeds Scott Pickering, who has been appointed Country Manager, ACE …
Zurich announced that Susan Yee has joined its business unit providing insurance and risk management solutions in emerging markets as marketing manager in Hong Kong. She will be responsible for marketing and underwriting support for Zurich’s political risk and credit …
Believe it or not, American businesses may have become a tad less litigious in the past three years. In a new survey of national litigation trends by law firm Fulbright & Jaworski L.L.P., the average number of cases pending among …
In a widely anticipated move, the China Insurance Regulatory Commission (CIRC) has reportedly announced plans to loosen the country’s tight currency controls by allowing domestic (as well as foreign) insurers to invest up to 80 percent of their foreign currency …
Boston-based Liberty Mutual Group will further expand its Latin American insurance business with the purchase of the insurance operations of AGF Allianz Chile S.A., a unit of France’s AGF, which is in turn a division of Germany’s Allianz AG. The …
Standard & Poor’s Ratings Services announced that it has raised its insurer financial strength and counterparty credit ratings on Hong Kong-based Ming An Insurance Co. Ltd. to ‘BB’ from ‘BB-‘. The outlook on the ratings is stable. “The rating action …
The International Insurance Society’s (IIS) 40th annual conference opened in London with a reception on July 11 and concluded on July 14 with a final gathering at Swiss Re’s imposing new headquarters. The building, at 30 St. Mary Axe, a …
Litigation involving U.S. business has receded slightly overall, but large corporations have experienced a surge and see no relief from lawsuits in sight. In a new survey of national litigation trends by law firm Fulbright & Jaworski L.L.P., the average …
This is the first in a series of articles on the Asia insurance marketplace. Part two in this series will focus on India and will appear in a September issue of Insurance Journal. “Let China Sleep, for when she wakes, …
