Latest Asia Headlines
All the headlines from our Asia Topic Page, ordered by recency.
Myanmar to Open Insurance Sector to Foreigners in 2015
Sep 14 2012 // Myanmar will allow foreign investors into its insurance sector by around 2015 once local private insurers have had time to establish themselves, a senior government official told Reuters. “We need to give these local...
Swiss Re’s Chief Economist on the State of the Global Economy
Sep 14 2012 // “The European debt crisis is affecting the global economy, definitely,” said Kurt Karl, Swiss Re’s chief economist in an interview at the recent Reinsurance Rendezvous in Monte Carlo. He did indicate that...
Commentary by Gordon Brown:* Europe Risks Going the Way of Japan
Sep 14 2012 // The good news is that Europe is no longer going the way of Greece. The sad news is that it is threatening to go the way of Japan. After years of hesitation punctuated by panic, Europe has finally accepted the compelling...
Asia’s Insurers Hiring While Bankers Face the Axe
Sep 10 2012 // Slowing economic growth across much of Asia has failed to crimp expansion plans by the region’s insurance companies, even as the rest of the financial industry slashes jobs. While banks and brokerages cut costs and...
U.S. Weather Forecaster Downgrades El Nino Impact
Sep 7 2012 // The U.S. government forecaster has issued its most definitive report since first raising the El Niño alert three months ago, forecasting a weak phenomenon that will last until the Northern Hemisphere spring. The latest...
AIG Sells AIA Shares at Surpise Premium, Raises $2 Billion
Sep 7 2012 // American International Group Inc. said it raised $2.02 billion through the sale of a partial stake in its former Asian unit AIA Group Ltd, placing the shares at a surprise premium although analysts were disappointed at the...
Commentary: Iran Confident It Is Winning Sanctions War
Sep 4 2012 // Despite ludicrous claims to the contrary, Western sanctions have hurt Iran’s crude oil exports, but it’s also not all gloom and doom. In unsurprising, but obviously factually incorrect, remarks, the director of...
Fitch Notes Reinsurers More Risk-Focused For More Asian Catastrophes
Aug 23 2012 // Fitch Ratings has issued a statement which points out that the “spate of Asia-Pacific catastrophes in the past two years have prompted reinsurers to take stock of their existing portfolio and re-evaluate their...
Asia’s Iran Crude Oil Imports to Regain Levels Prior to EU Insurance Ban
Aug 22 2012 // Asia’s crude imports from Iran are set to recover in September to levels reached before a July 1 insurance ban by the European Union plunged trade with the Islamic Republic into uncertainty not seen in decades. Top...
Best Upgrades NIPPONKOA’s Ratings to ‘A+’; Affirms Subs
Aug 22 2012 // A.M. Best Co. has upgraded the financial strength rating (FSR) to ‘A+’ (Superior) from ‘A’ (Excellent) and the issuer credit rating (ICR) to “aa-” from “a+” of Japan’s...
El Nino Seen Having ‘Modest Impact’ on Australia
Aug 21 2012 // An emerging El Nino weather pattern is likely to have only a modest impact on crops and mining in Australia and could benefit sugar cane growers in Queensland, a senior forecaster said. Drier conditions have already...
ING Sees Quick Sales in Asian Insurance Break-up
Aug 9 2012 // Dutch banking and insurance group ING now expects a quick sale of parts of its $7 billion Asian insurance business as it seeks to repay state aid and meet European requirements for its 2008 state bail-out, its chief...
Zurich Appoints Credit & Political Risk Director in Washington, D.C.
Jul 24 2012 // Zurich, Switzerland-headquartered Zurich Insurance Group appointed Dave Anderson as credit and political risk director for global business development. He will be based in Zurich’s Washington, D.C., office. Anderson...
Flood Risks Rampant across Asia’s Factory Zones; Insurers Concerned
Jul 23 2012 // Global insurance companies are struggling to get a grip on their flood exposure in Asia nearly a year after one of the world’s costliest disasters hit Thailand, with executives fearing an even worse event may strike...
Willis Creates New Units for Asia, Australasia, Middle East & Africa Operations
Jul 23 2012 // Willis International, the broker’s’ retail division, announced that in “recognition of the size, growth and strategic importance of its Asia Pacific, Middle East and Africa operations, it has created...
Bid Deadline Nears for ING’s Asia Insurance Business
Jul 16 2012 // A wide range of suitors, from the son of Asia’s richest man and a former rugby player in New Zealand to more established players including AIA Group and Manulife Financial Corp, are expected to submit binding bids on...
South Korea Considering Resuming Iran Oil Imports: Gov’t. Sources
Jul 13 2012 // South Korea will soon decide on whether to resume Iranian crude imports after Tehran offered to ship and insure the oil to get around the impact of EU sanctions, two Korean government sources said on Friday. The EU oil...
Blackstone Backs ex-AIA Chief in ING Asia Sale Race: Source
Jul 12 2012 // Global private equity fund Blackstone Group LP is backing Mark Wilson, the former chief of AIA Group Ltd, in the bidding for ING Groep NV’s Asia insurance unit, a source directly familiar with the matter said. The...
Kerr to Head BMS Growth in Australia, Asia-Pacific
Jul 10 2012 // Global broker BMS Group announced that it has “achieved another major strategic goal with the appointment of respected Australia-based facultative broker, Glenn Kerr.” Kerr will join the BMS’ wholesale...
Guy Carpenter Report Focuses on Asia-Pacific 2011 ‘Climate Issues’
Jul 9 2012 // The Guy Carpenter Asia-Pacific Climate Impact Centre (GCACIC), a joint initiative of Guy Carpenter and City University of Hong Kong, has released its third annual report, which presents the findings of the 27 research...
