Aon Benfield announced that it is “advising re/insurers that rating agencies are likely to increase their scrutiny of catastrophe risk in Asia and that many companies will have to make substantial investments to address this.” The bulletin noted that the …
Just days before President Barack Obama’s long-awaited visit to Indonesia, some international flights were canceled over concerns about a volcano spewing ash hundreds of miles away. Malaysia was preparing to airlift hundreds of citizens out of the country. The notoriously …
Australia’s Qantas Airways has grounded its A380 fleet for at least another three days as it investigates oil leaks as a possible cause of the explosion which tore apart one of the super jumbo’s engines last week. Qantas shares fell …
Qantas Airways suspended flights of its Airbus A380 fleet on Thursday after engine failure triggered an emergency landing in Singapore, one of the most serious incidents for the world’s largest passenger plane in three years of commercial flight. The Airbus …
The earthquake and the subsequent tsunami, which struck the Mentawai Islands off of the Indonesian island of Sumatra has left at least 272 dead, with over 400 people still reported missing. Indonesian authorities are also trying to deal with the …
ACE Limited announced that it has signed a definitive agreement to acquire New York Life’s Hong Kong and Korea life insurance operations for approximately $425 million in cash. ACE said the deal would expand its life insurance business “into two …
AIA, the Asian life insurance arm of AIG, raised $17.9 billion by pricing its Hong Kong IPO at the top of its range, as investors piled into a company with a wide footprint across rapidly growing Asia. The pricing of …
Cash rich Australian companies are being forced to search offshore for takeover targets as the small local market has become too consolidated to get deals past the competition watchdog. With the Aussie dollar at a 28-year high, now would be …
Somali pirates appear to be intensifying their attacks away from their own coast and were responsible for 44 percent of the 289 piracy incidents on the world’s seas in the first nine months of 2010, according to a report published …
Australia faces almost double the number of destructive tropical cyclones, possibly as many as 22, across oil and gas, iron ore and sugar production regions during 2010/11 cyclone season, the weather bureau said. The above-average number of cyclones are a …
