Latest Asia Headlines
All the headlines from our Asia Topic Page, ordered by recency.
People Moves: Latitude Brokers Names Cannock Managing Director, Singapore; Howden M&A Bolsters Asia Pacific Team; Markel Int’l Bolsters Media/Entertainment Team
Mar 14 2022 // This edition of International People Moves details appointments at Latitude Brokers, Howden M&A in Asia Pacific, and Markel International. A summary of these new hires follows here. Latitude Brokers Names Cannock...
AIA Group Agrees to Buy Bank of East Asia’s Non-Life Insurance Businesses for $278M
Mar 7 2022 // Bank of East Asia (BEA) said late on Friday it has agreed to sell its non-life insurance and healthcare services businesses to a unit of AIA Group Ltd. for an aggregate HK$2.168 billion ($278 million). BEA agreed to sell...
Virginia School Board to Appeal Judge’s Ruling Blocking Elite School’s Admissions Policy
Feb 28 2022 // A federal judge ruled Friday that a Virginia school system illegally discriminated against Asian Americans when it overhauled the admissions policies at an elite public school. The ruling from U.S. District Judge Claude...
HDI Global Restructures Asia-Pacific Operations, Simplifying Reporting Structures
Feb 17 2022 // Industrial insurer HDI Global SE has restructured its Asia Pacific operations in a move designed to simplify reporting structures in the region and strengthen its offering for customers and business partners. The reform of...
AXA Completes Sale of Singapore Business to HSBC
Feb 11 2022 // AXA announced it has completed the sale of its Singapore operations to HSBC for US$529 million. HSBC Insurance (Asia Pacific) Holdings Ltd., an indirect wholly-owned subsidiary of HSBC Holdings plc, completed the...
Natural Disasters Cost Insurers $116B in 2021, or 63% Higher Than Average: Gallagher Re
Feb 4 2022 // Insured losses from major natural catastrophes in 2021 – excluding COVID-related losses – have so far reached an estimated US$116 billion, the third largest total since 2011, and about 63% higher than the average loss...
Asian Insurer FWD Group Raises $200M in Pre-IPO Funding: Sources
Jan 19 2022 // Asian insurer FWD Group has raised $200 million in new funding ahead of its planned Hong Kong initial public offering (IPO), according to two sources with direct knowledge of the matter. The sources could not be named as...
MS Amlin Launches 2nd Asia-Focused Special Purpose Reinsurance Vehicle for ILS
Jan 6 2022 // MS Amlin Underwriting Ltd. (MS AUL), the Lloyd’s global specialty re/insurer, announced its Singapore-based operation has launched its second local special purpose reinsurance vehicle (SPRV). Called Phoenix 2 Re Pte....
Tokio Marine Appoints Hirai as CEO for Asia Region
Jan 3 2022 // Tokio Marine announced the appointment of Masahito Hirai as chief executive officer of Tokio Marine Asia Pte. Ltd. (TMA), its Asia regional headquarters, based in Singapore. He succeeds Noboru Yamagata, who had been...
Lloyd’s Asia Launches Renewable Energy Consortium
Dec 27 2021 // Lloyd’s has launched a new renewable energy consortium, to respond to the growing needs of the Asia-Pacific region and supporting countries, as they transition to greener energy solutions. Developed by the...
Typhoon Rai Leaves Trail of Destruction in Southeast Asia, Killing More Than 200
Dec 20 2021 // Severe weather disruptions hit Malaysia and the Philippines, leaving a trail of destruction among nations most prone to natural disasters. Typhoon Rai, a super typhoon before slamming into the Philippines on Thursday, left...
Generali to Focus on U.S., Asia in New Strategic Growth Plan: Report
Dec 13 2021 // Assicurazioni Generali SpA, Italy’s largest insurer, is preparing to unveil an international-growth strategy to investors this week, according to the Repubblica newspaper. The plan, to be presented by Chief Executive...
Asian Insurer FWD Group Weighs Shifting U.S. IPO to Hong Kong: Reuters
Nov 10 2021 // HONG KONG – Asian insurer FWD Group, controlled by Hong Kong billionaire Richard Li, is contemplating shifting its $2-$3 billion share sale from the United States to Hong Kong, said two sources with direct knowledge of...
Chubb to Buy Some of Cigna’s Asia-Pacific Businesses for $5.8 Billion
Oct 8 2021 // U.S. insurer Chubb Ltd has agreed to buy health insurer Cigna Corp’s life, accident, and supplemental benefits businesses in Asia Pacific and Turkey for $5.75 billion in cash, both insurers said, marking the latest...
People Moves: Former Willis Re CTO Joins Placement Platform Supercede; Sedgwick Hires Cordingley for Event Response in Australia, Cooper for Asia Biz Development
Aug 20 2021 // Reinsurance Placement Platform Supercede Hires Former Willis Re CTO Supercede, the London-based global reinsurance placement platform, announced the appointment of Aydin Betez, formerly chief technology officer of Willis...
HSBC Buys AXA Singapore for $575M in Push to Fuel Expansion Across Southeast Asia
Aug 16 2021 // HSBC Holdings Plc agreed to buy AXA Singapore for $575 million in a push to build a global wealth hub in Singapore and fuel its expansion across Southeast Asia amid increasing tension in China. The acquisition will give...
Beazley Launches Suite of Life Sciences’ Insurance in Asia Pacific
Aug 4 2021 // Specialist insurer Beazley has launched a suite of covers to protect organizations within Asia Pacific’s rapidly expanding life sciences sector. In an environment in which risk exposures are complex and varied –...
Busier-Than-Normal Cyclone Season Predicted for East Asian Nations
Jun 7 2021 // SINGAPORE – Half of the roughly 20 tropical cyclones expected to form in the western Pacific Ocean through September this year are predicted to hit land in east Asian nations, forecasters said on Friday, making for a...
People Moves: Howden’s Rahmita Price to Ed Asia; 3 Price Forbes Hires; WTW’s Pires to NFP; Tres to Carpenter; PwC’s Eastman to Specialist Risk Group
May 19 2021 // This wrap-up of international People Moves details recent appointments at Ed Broking, Price Forbes, NFP, Guy Carpenter & Co., and Specialist Risk Group (SRG). A summary of these new hires follows here. Elia Rahmita...
Ransomware Attacks Hit AXA’s Asia Units, New Zealand Health Provider
May 19 2021 // BANGKOK (AP) – The Thai affiliate of Paris-based insurance company AXA said Tuesday it is investigating a ransomware attack by Russian-speaking cyber criminals that has affected operations in Thailand, Malaysia, Hong...
