Latest Asia Headlines
All the headlines from our Asia Topic Page, ordered by recency.
Lloyd’s Notes Success of Regional Catastrophe Pools, CCRIF
Oct 26 2009 // An article on the Lloyd’s of London web site (www.lloyds.com) discusses the success of an “innovative solution” which can make funding available to governments in the aftermath of a natural...
Is Economic Terrorism a Threat to Southeast Asia?
Sep 24 2009 // If the suicide bombers who targeted two luxury hotels in Jakarta this year hoped their attacks would strike a significant long-term blow against Indonesia’s economy, the reaction of financial markets suggests they...
Ratings Recap: Grupo Nacional, BEST RE, Triple-S, Arab Re, Int’l. Energy, Asian Re
Sep 17 2009 // A. M. Best Co. has revised the outlook to negative from stable and affirmed the financial strength rating of ‘A’ (Excellent) and issuer credit rating of “a” of Mexico’s Grupo Nacional...
Best Revises Outlook on SCOR to Positive; Affirms ‘A-‘ Ratings
Sep 4 2009 // A.M. Best Co. has revised the outlook to positive from stable and affirmed the financial strength rating (FSR) of ‘A-‘ (Excellent) and the issuer credit rating (ICR) of “a-” of French reinsurer SCOR...
Shankar Joins Aon’s Asia Pacific Consulting as Chief Commercial Officer
Sep 3 2009 // Aon Consulting, the global human capital consulting organization of Aon Corporation, announced that 20-year industry veteran Anand Shankar has joined the firm in the newly created position of Chief Commercial Officer, Asia...
Marsh Teams with Munich Re for Asian Solar Power Coverage
Sep 2 2009 // Marsh and Munich Re have joined forces to launch a new product guarantee insurance solution designed for the expanding solar panel manufacturing sector in Asia, which Marsh described as the “the first of its kind in...
Zurich to Sponsor Inaugural 2009 Asian Amateur Golf Championship
Aug 20 2009 // Zurich Financial Services Group has signed up as one of five exclusive partners of the inaugural Asian Amateur Championship, scheduled to be held at the Mission Hills Golf Club’s World Cup Course in Shenzhen, China,...
Two Typhoons Slam into Eastern Asia; Powerful Earthquake Strikes Japan
Aug 10 2009 // Typhoon Morakot wreaked havoc in Taiwan over the weekend, making landfall late on Friday in Taiwan’s Hualien County with sustained winds of 148 km/h (92 mph). “As of Friday, Morakot had generated only 100 mm (4...
UK’s Miller Launches Facultative Reinsurance Capability in Singapore
Jul 22 2009 // The UK-based broker Miller Insurance Services Limited announced that it will now be offering facultative reinsurance capability out of its Singapore office following the additions of Nigel Cross and Adam Fuller. Cross...
Asia-Pacific Nations Decry First-world Protectionist Policies
Jul 21 2009 // Some Asia-Pacific nations criticized U.S. and other developed world protectionism on Tuesday at a meeting aimed at spurring a global trade pact and revitalizing the global economy. Thai Commerce Minister Pornthiva Nakasai,...
Willis Increases Equity Stake to 49% in Malaysian Business
Jul 16 2009 // In a move, which it described as designed to “strengthen its standing as one of the leading global brokers in Asia,” Willis Group Holdings announced that it has “increased its shareholding in its...
El Nino Weather Pattern Increasing Says Australian Weather Bureau
Jul 8 2009 // The development of an El Nino weather pattern is increasing and at this stage may be a medium-strength event, but it could take months for it to be officially declared, Australia’s weather bureau said. “We are...
S&P Says AIA, AIAB Ratings ‘Not Affected’ by AIG Spinoff Plans
May 20 2009 // Standard & Poor’s Ratings Services said that its ratings on Hong Kong-based American International Assurance Co. Ltd. (AIA; A+/Developing/–) and American International Assurance Co. (Bermuda) Ltd. (AIAB;...
AIG Launches IPO Process for Asian ‘Crown Jewel’
May 18 2009 // American International Group said it would accelerate plans to separate its Asian subsidiary through an initial public offering as the bailed-out U.S. insurer seeks to raise cash and list the unit as soon as possible. The...
Time Seen Tight for ING Asset Sales
May 18 2009 // Dutch financial group ING made clear this week it was not in any particular rush to complete its planned €8 billion [$10.8 billion] of asset sales — but to hear analysts and bankers tell it, Chief Executive Jan...
Report: Process for AIG Asian IPO to Start Soon
May 14 2009 // AIG is expected to soon begin the process of launching the initial public offering of its largest Asian subsidiary, according to sources familiar with the matter, in what could be one of the largest Asian IPOs to hit the...
Marsh Reports Captives Maintain Position Despite Economic Crisis
Apr 28 2009 // A study, published by Marsh, finds businesses continue the trend to self-insure through captives. “Despite the global economic recession and continued soft commercial insurance market, businesses in all parts of the...
How Climate Change Affects GDP
Apr 27 2009 // Southeast Asia faces one of the world’s highest climate change bills, the Asian Development Bank said on Monday, unless the region adapts to climate change and joins the rest of the world in cutting greenhouse gas...
Business Moves
Apr 20 2009 // Progressive Progressive said it will begin offering motorcycle and RV insurance in Massachusetts. The Mayfield Village, Ohio-based insurer said it will offer the coverage through its Web site as well as through independent...
Business Moves
Apr 20 2009 // Munich Re German reinsurer Munich Re has successfully concluded the acquisition of specialty insurer HSB Group from American International Group for $739 million. The deal was originally announced last December. The...
