Japan News

Tokio Marine to Use Citic for China Growth, as It Steps Up Overseas Expansion

Tokio Marine Holdings Inc., fresh from its biggest acquisition in the U.S., is now looking for opportunities in China. The insurer plans to utilize its ties with Citic Group Corp., China’s biggest conglomerate, to expand in the country, Tsuyoshi Nagano, …

Tokio Marine to Buy HCC for $7.5B in Biggest Ever Deal by Japanese Insurer

Tokio Marine Holdings Inc. agreed to buy HCC Insurance Holdings Inc. for about $7.5 billion in the biggest acquisition by a Japanese insurer, stepping up an overseas expansion to counter stagnation at home. Tokio Marine will pay $78 in cash …

Sompo Japan Nipponkoa Plans to Buy 15% Stake in French Reinsurer SCOR

Sompo Japan Nipponkoa Holdings Inc. will buy a 15 percent stake in French reinsurer SCOR SE in potentially its biggest investment abroad amid diminishing opportunities for growth at home. The insurer will initially buy 7.8 percent from Swiss fund Patinex …

XL Group Appoints New Country Managers for Singapore and Japan

XL Group announced it has appointed Robin Johnson as country manager for Singapore with responsibility for continuing to drive the growth of the group’s insurance business in the region. Johnson, whose industry career spans senior positions in underwriting, distribution and …

Insurance Leaders from India, Japan to Speak at Iowa Symposium

Keynote speakers at a global insurance symposium scheduled for May in Des Moines, Iowa, will include high ranking insurance officials from Japan and India. Gov. Terry Branstad says Japan’s Vice Commissioner Masamichi Kono and the chairman of India’s Insurance Regulatory …

Highway Ceiling Collapse in Japan Kills 9

Concrete ceiling slabs fell onto moving vehicles deep inside a long Japanese highway tunnel, and authorities confirmed nine deaths before suspending rescue work Monday while the roof was being reinforced to prevent more collapses. Two vehicles caught fire in the …

Toyota to Recall 2.77 Million Vehicles for Steering, Water Pump Problems

Toyota Motor Corp said it will recall 2.77 million vehicles worldwide, including some of its popular Prius hybrid cars, for steering and water pump problems in the carmaker’s second multimillion-vehicle recall in a little over a month. The defects, which …

Aon Benfield’s Monthly Cat Recap Focuses on $7.5 Billion Asian Flood Losses

Asian flood losses during the third quarter of 2012 aggregated more than $7.5 billion in economic losses, of which China was the worst hit by two separate flood events that affected several provinces. “The most costly occurred during a six-day …

Lloyd’s Analyzes Repercussions of Thai Flood Losses a Year Later

Lloyd’s has published an analysis of the floods that hit Thailand in October 2011, which notes that “after weeks of slowly spreading their way through many of Thailand’s provinces, flood waters eventually reached the capital city, Bangkok. There they remained …

Typhoon Jelawat Hits Okinawa; Moves on Tokyo: AIR Analysis

Typhoon Jelawat remains a powerful storm, even if its wind speed has decreased from around from 155 mph, 250km/h, it passed over Okinawa on Saturday with wind speeds over 90 mph, 144 km/h, causing extensive damage, and injuring more than …