Latest Asia Headlines
All the headlines from our Asia Topic Page, ordered by recency.
AIG CEO Benmosche Confident Asian Life Unit Sale Will Go Through
May 11 2010 // American International Group Inc. Chief Executive Robert Benmosche told employees he is confident a $35.5 billion deal to sell its Asian life insurance unit would move forward, a source familiar with the matter...
‘Shock and Awe’ Halts Euro Market Slide – for Now
May 10 2010 // A $1 trillion global emergency rescue package to stabilize the euro reversed the slide in world financial markets on Monday but left longer-term questions about whether Europe’s weakest economies can manage their...
Britian’s Pru, Regulators Close to Deal on Buy of AIG’s Asian Unit
May 10 2010 // Britain’s Prudential has made progress in make-or-break talks with UK regulators over its acquisition of AIG’s Asian arm, and is close to announcing a deal, sources familiar with the matter said. The...
AIG Sale of Asian Unit AIA to Prudential Hits Snag
Apr 28 2010 // Prudential is facing the makings of a shareholder revolt over its $35.5 billion deal to buy AIA, raising the prospect the deal could fail and adding to pressure for a breakup of the British insurer...
Rivalry Haunts Prudential/AIA Integration
Apr 26 2010 // British insurer Prudential will try to reassure investors it can seamlessly absorb the Asian arm of AIG next week when it publishes the prospectus for a record $21 billion cash call to fund the takeover. With shareholders...
If Ash Cloud Lingers, Economic Impact Could Rise Sharply
Apr 19 2010 // The economic impact of the volcanic cloud halting flights across Europe will increase sharply the longer disruption continues, forcing holiday cancellations, delaying deliveries and reducing jet fuel demand. African...
UK’s Prudential Under No Pressure to Cut Price for AIG’s Asian Unit
Apr 19 2010 // UK insurer Prudential Plc is under no pressure from its shareholders to cut the $35.5 billion price it’s paying for AIG’s Asian life insurance unit, the group’s Asia CEO said. “At the very...
El Nino to Influence Climate to Midyear
Mar 31 2010 // The El Nino warming the Pacific Ocean since June has peaked, but is expected to influence climate patterns worldwide up to mid-year before dying out, the World Meteorological Organisation (WMO) said Tuesday. However, the...
Report AIA Senior Executives to Quit Before Prudential Takeover
Mar 25 2010 // Two senior executives from AIG’s Asian operations plan to quit before Prudential’s planned $35.5 billion takeover, according to a source familiar with the matter. Chief Financial Officer Steve Roder and Chief...
RMS to Collaborate with Asia Capital Re to Enhance Asian Cat Models
Mar 24 2010 // Risk Management Solutions announced that it has reached an agreement with Asia Capital Reinsurance Group (ACR) that they will work together to “develop catastrophe risk models enabling ACR to apply the models of...
Ratings Recap: GIC India, Top Layer Re, AIA (Australia), PartnerRe (notes)
Mar 15 2010 // A.M. Best Co. has affirmed the financial strength rating of ‘A-‘ (Excellent) and issuer credit rating of “a-” of General Insurance Corporation of India (GIC), both with stable outlooks. The ratings...
Lloyd’s Chairman Visits Japan, So. Korea; Urges Closer Ties
Mar 11 2010 // Lloyd’s Chairman, Lord Levene, visited Japan and South Korea last week where he opened the new Lloyd’s Japan office and hosted an event with Korean Re, titled – Lloyd’s – A Working...
Zurich Picks Perritaz to Replace Howie as Asia-Pacific/Middle East CFO
Mar 11 2010 // Zurich Financial Services Group has appointed Pascal Perritaz (37, Swiss citizen) to the position of Chief Financial Officer Asia-Pacific and Middle East (APME), effective April 1, 2010. He replaces Iain Howie, who has...
Aviva Exec Says Prudential/AIA Deal Creates Opportunities for Rivals
Mar 8 2010 // The proposed $35.5 billion takeover of AIA by Prudential Plc will offer opportunities for rival insurers to increase their market share in Asia, a top official at British insurer Aviva Plc said. “For competitors it...
AIG to Get $231 Million If Sale of Asian Unit to Pru Fails
Mar 8 2010 // American International Group Inc. will receive a termination fee of $230.6 million if the sale of its Asian life insurance business to Britain’s Prudential PLC falls through. In a filing with the Securities and...
Singapore GIC, Qatar to Underwrite Part of Prudential’s Rights Offer
Mar 5 2010 // 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...
Ping An Sees No Impact on China Insurance from Prudential/AIG Deal
Mar 5 2010 // Ping An Insurance, China’s No. 2 insurer, said on Friday it was not concerned about a plan by Britain’s Prudential to buy the Asia assets of U.S. insurer AIG, the market leader among foreign insurers in...
Prudential and AIG Execs Selling AIA Deal to Asia Staff
Mar 4 2010 // The chief executives of Britain’s Prudential Plc and American International Group met employees of the two firms in Southeast Asia on Thursday, in a bid to address concerns about the insurance industry’s record...
Pru-AIG’s AIA Life Marriage Makes Strategic Sense But Carries Risks
Mar 1 2010 // Prudential Plc’s $35.5 billion offer for American International Group Inc.’s Asia business marries the UK insurer’s fast-growth strategy with AIA’s mature business profile — a logical,...
AIG to Sell ‘Crown Jewel’ Asian Life Unit to UK’s Prudential for $35.5 Billion
Feb 28 2010 // American International Group Inc. agreed to sell its Asian life insurance unit to Britain’s Prudential Plc for about $35.5 billion, in a deal that would help the U.S. government get back billions of its bailout...
