China, India and Indonesia are likely to face much higher losses from natural disasters in coming decades as their economies grow faster than their capacity for disaster prevention and relief, a new report has forecast. That means more foreign investment …
The world economy continued its rebound from the worst recession in decades, according to the quarterly ICC/Ifo World Economic Survey released today, but at a slower pace. The survey concluded that “some regions, notably North America and Asia, saw slowing …
Across Thailand many doctors traded their white coats for black on Thursday to protest a draft law that would give victims of medical malpractice legal rights to win compensation. The law would be the first of its kind in Thailand, …
Aon reported net income of $153 million in the second quarter 2010, compared to $149 million for the prior year quarter. Net income from continuing operations increased 22 percent to $179 million, compared to $147 million for the prior year …
Impact Forecasting, Aon Benfield’s catastrophe model development center, has launched the first fully functional Asian typhoon model to span the continent. “The new model will help insurers analyze the financial implications of typhoons and develop reinsurance programs based on scientific …
J.P. Schmidt, Insurance Commissioner of the State of Hawaii, announced he be leaving his position to join the Honolulu law firm of Bays Deaver Lung Rose Holma, effective July 1. Schmidt will be practicing general business, corporate and government regulatory …
Willis Group Holdings has appointed Scott Pickering as CEO, Russia, Eastern Europe, the Middle East and South Africa, effective immediately. He will be based in the Al Futtaim Willis office in Dubai and will report to Sarah Turvill, Chairman and …
The Lockton Companies (Singapore) Pte Ltd has launched an insurance product to cover the cost of medical complications for medical travelers receiving surgery abroad in collaboration with QBE International Ltd, the underwriter of the new product. “Scope, Insurance for medical …
A major earthquake of 7.8 magnitude shook the northwestern coast of the Indonesian island of Sumatra, the U.S. Geological Survey said on Tuesday. A local tsunami watch was in effect for Indonesia, the Pacific Tsunami Warning Center said. “A destructive …
Singapore’s biggest sovereign wealth fund GIC and Qatar Holding LLC have committed to underwrite a significant portion of UK Prudential’s $20 billion rights issue. GIC is an existing shareholder, with a 0.5 percent stake in Prudential, but Qatar does not …
