Hong Kong News

XL Catlin Appoints Chambers as Country Manager, Hong Kong – Insurance

XL Catlin’s insurance operations announced the appointment of Jamie Chambers as country manager for Hong Kong. In his new role, Chambers will be responsible for driving XL Catlin’s insurance business and market presence in Hong Kong. He takes on this …

Swiss Re Corporate Solutions Licensed to Offer Non-Life Insurance in Hong Kong

Swiss Re Corporate Solutions announced that its wholly owned Luxembourg subsidiary, Swiss Re International SE, has obtained formal authorization from the Office of the Commissioner of Insurance Hong Kong to carry on general insurance business in or from Hong Kong. …

QBE to Supply General Insurance Products for Manulife Customers in Hong Kong

Manulife (International) Ltd. and QBE Hongkong & Shanghai Insurance Ltd. have formed an exclusive distribution agreement whereby QBE will supply general insurance products in Hong Kong for distribution through Manulife’s agents. Designed to complement Manulife’s life, pensions and wealth management …

Hiscox to Sell Hong Kong Division of DirectAsia Business to Well Link Group

Hiscox, the specialist insurance group, announced it has reached an agreement to sell the Hong Kong division of its DirectAsia business to Well Link Group Holdings Ltd., a member of a Hong Kong-based financial conglomerate. The transaction, which will allow Hiscox to focus the …

Update: Zurich Insurance Weighs Sale of Hong Kong & Singapore Units

Zurich Insurance is exploring a sale of its Hong Kong and Singapore operations as it reviews its non-core businesses outside Europe, sources familiar with the matter said. The Swiss insurer has discussed the plan with several investment banks but has yet to …

Latitude Brokers Completes Management Buyout of CGSC Stake

Hong Kong-based marine insurance specialist Latitude Brokers has announced the management buyout of its shareholding previously owned by Cooper Gay Swett & Crawford (CGSC). Financial terms of the deal were not disclosed. Andrew Brooker, Founding Partner of Latitude Brokers said: …

TigerRisk Enters China Market with Opening of Hong Kong Office

TigerRisk Partners LLC announced its first presence in Asia with the opening of the Hong Kong office of its subsidiary TigerRisk China Partners. TigerRisk China Partners is a member of the Hong Kong Confederation of Insurance Brokers, effective July 30. …

AIA New Business Value Advances 21% in First Half on China

AIA Group Ltd., the third-largest Asia-based insurer by market value, posted a 21 percent increase in new business value as China became its second-largest market for the first time by that measure. The gauge of projected profitability of new policies …

Hong Kong-Based AIA Group Beats Estimates With 22% Jump in Profit

AIA Group Ltd., the third-largest Asia-based insurer by market value, posted a bigger-than-expected 22 percent increase in full-year profit, led by business growth in China and Hong Kong. Net income climbed to $3.45 billion, or 28.73 cents a share, in …

Hong Kong’s Appeal to Financial Community Survives Protests: Poll

Hong Kong’s appeal to the financial community has withstood pro-democracy protests that threatened to become the city’s biggest political crisis in decades, according to a Bloomberg Global Poll. Eighty-seven percent of the survey’s 510 respondents said the democracy movement that …