Latest Asia Headlines
All the headlines from our Asia Topic Page, ordered by recency.
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...
Cotter to Head New Allied World Hong Kong Branch
Mar 27 2009 // Allied World Assurance Company Holdings announced the opening of a branch office in Hong Kong in order to expand its operations into Asia. Bill Cotter, Senior Vice President, Asia, will oversee all Asian insurance...
Bank of East Asia to Buy AIG’s Taiwan Securities Unit
Mar 26 2009 // The Bank of East Asia said on Thursday that it has signed a deal to buy the Taiwan securities arm of American International Group as the ailing U.S. insurance giant sells assets to raise cash. “The deal is subject to...
AIG’s Top Asia Executive Tse Retires
Mar 20 2009 // Edmund Tse, the top American International Group Inc. executive in Asia, is retiring, the troubled insurer said on Friday. Tse, who is in his early 70s, has worked at AIG since 1961, and was once considered a top candidate...
Swiss Re <em>sigma</em> Study Tallies Catastrophic 2008
Mar 18 2009 // Swiss Re has just released its latest sigma study, which details the toll of disasters that made 2008 “one of the worst years for catastrophe losses” according to the report. More than 240,500 people lost their...
AIG’s Hopes for Sale of Asian Life Unit AIA Rest With 3 Bidders
Feb 25 2009 // Three potential bidders remain interested in the sale of a large stake in American International Group’s $20 billion Asian life insurance unit, people close to the matter said on Wednesday, as the auction heads into...
AIG Seen Willing to Give Up Majority Control of Asia ‘Jewel’ AIA
Feb 24 2009 // American International Group Inc., facing massive losses and seeking fresh funds, may be willing to give up control of its prized Asian division, worth about $20 billion, said sources with direct knowledge of the...
Demographic Shift Offers Opportunity for Agents
Feb 22 2009 // Minorities Destined to Become Majority by Mid-Century Before the 21st century reaches the half-way mark, more than 50 percent of the population of the United States will be represented by a vast cultural mix of people...
UK’s Prudential Sells Taiwan Insurance Units
Feb 20 2009 // Taiwan’s China Life will buy most of Prudential Plc’s local insurance business, with the UK firm taking around a 10 percent stake in China Life, valued at T$2.18 billion ($64 million), the companies said. The...
Marine Insurance Group Sees ‘Tough Times’ for Insurers
Feb 2 2009 // According to Deirdre Littlefield, president of the International Union of Marine Insurance (IUMI), “While the insurance industry may be more insulated from failure than others in the financial sector, it will not...
Ratings Recap II: Chaucer, MSIG, Congregational, Top Layer, Asia Capital
Jan 30 2009 // Standard & Poor’s Ratings Services has issued a bulletin indicating that “its ‘3’ Lloyd’s Syndicate Assessment (LSA) on Chaucer – Syndicate 1084 is not affected by the announcement...
Ex-CEO Greenberg Protests AIG Sale of Asian Life ‘Crown Jewel’
Jan 23 2009 // Former AIG Chief Executive Maurice “Hank” Greenberg said in a letter Thursday the insurer should halt asset sales until the new administration in Washington can assess what is best for the now...
