With a saturated and highly competitive home market, Japanese insurers are increasingly looking abroad for opportunities to expand. According to a report from the Japanese business newspaper Nihon Keizai, as reported by Reuters, Tokio Marine & Nichido Fire Insurance Co., …
France’s SCOR Group reported that treaty renewals in the Asian market, concluded on April 1, showed good gains. “Non-Life treaties in Japan and Korea (72% of the 2004 Asia-Pacific zone Property & Casualty treaties) were up for renewal at 1 …
China’s PICC Property and Casualty Co. Ltd., the country’s largest P/C insurer, is poised to enter the rapidly expanding Chinese life insurance market with the announcement that it is forming a joint venture with other Asian partners from Thailand, Hong …
Fitch Ratings has affirmed all current ratings of the Hartford Financial Services Group Inc. (HFSG). This includes HFSG’s fixed income ratings and the insurer financial strength rating of the primary life and property/casualty insurance subsidiaries. The Rating Outlook remains Stable. …
Germany’s Munich Re Group celebrated its 125th anniversary year in style, recovering from a 434 million euro ($578 million) loss in 2003 to post 2004 net profits of 1.833 billion euros ($2.44 billion) despite a series of weather related catastrophes …
Two Aon subsidiaries, Aon Re Global and Impact Forecasting, LLC, have released a report on 2004’s natural catastrophes, describing “a year of freakish weather patterns, ending with the worst natural disaster in modern times: the December 26th tsunami.” The report …
Workplace safety standards in Singapore are higher than in most other Asian countries, but remain below those of Japan and most of the European Union, a government minister said. “We have reduced the number of accidents and deaths at workplaces …
Aviva (formerly CGNU/Norwich Union) announced a net operating profit for 2004 of £2.344 billion ($4.5 billion), a 25 percent increase from 2003’s £1.72 billion ($3.3 billion). The U.K.’ largest insurer also announced plans to buy RAC (formerly the Royal Automobile …
Research and Markets announced the addition of The Global Insurance Handbook 2005 to their offering. The increasing size of risk in the world is reportedly influencing multinational and global companies to protect ever larger balance sheets against traditional and untangible …
North Korean ships seeking to enter Japanese ports faced a new hurdle this week as a law took effect requiring large vessels visiting the country to have insurance against oil spills and other accidents. Japanese lawmakers campaigning to impose economic …
