Latest Asia Headlines
All the headlines from our Asia Topic Page, ordered by recency.
UK’s Prudential Trims Cost of Botched AIA Deal
Aug 12 2010 // Insurer Prudential said its failed bid for AIG’s Asian unit will cost less than first expected, and confirmed that the bungled takeover attempt has killed its appetite for big M&A deals. The bid for Hong...
China’s Economy Set to Pass Japan’s as World’s Second Biggest
Aug 2 2010 // China is set to overtake Japan as the world’s second-largest economy in a resurgence that is changing everything from the global balance of military and financial power to how cars are designed. By some measures it...
Bowring Marsh Opens New Office in Hong Kong
Jul 21 2010 // Bowring Marsh, the Specialist International Placement Broker at Marsh, has expanded its footprint in Asia with the opening in Hong Kong of its ninth office, specializing in property, earthquake, business interruption and...
Ex-Prudential (UK) CEO Tucker Named to Head AIA before IPO
Jul 19 2010 // Bailed-out insurer American International Group named former Prudential plc Chief Executive Mark Tucker as head of its Asia life insurance business, AIA, and said it would seek to list AIA on the Hong Kong stock...
Aon Benfield Launches First Pan-Asian Typhoon Model
Jul 19 2010 // Impact Forecasting, Aon Benfield’s catastrophe model development center, has launched the first fully functional Asian typhoon model to span the continent. “The new model will help insurers analyze the...
AIG Names Miller Chairman, Following Golub’s Resignation
Jul 15 2010 // American International Group named director Robert “Steve” Miller as its new chairman, replacing Harvey Golub, who resigned after clashing with Chief Executive Robert Benmosche over the botched sale of the...
AIG Board to Consider AIA’s Future; IPO Seen Most Likely Option
Jul 13 2010 // The board of American International Group is set to meet this week to consider the future of its AIA unit, with a public float seen as the most likely outcome, sources said on Tuesday. An initial public offering of AIA,...
AIG CEO, Chairman At Odds Over Failed Sale of Asian Life Unit
Jul 2 2010 // American International Group Inc. Chief Executive Robert Benmosche and Chairman Harvey Golub, at odds over a botched sale of the company’s Asian life unit, have agreed to work out their differences, a source familiar...
Resolution Close to $4 Billion AXA Deal
Jun 14 2010 // Resolution said it was close to buying AXA’s British life insurance arm, kick-starting its plan to consolidate the UK life market and freeing the French insurer up to focus on high-growth Asia. Resolution, set up in...
AXA Extends Talks with National Australia Bank on AXA Asia Pacific Deal
Jun 2 2010 // AXA, AXA Asia Pacific Holdings Limited (AXA APH) and National Australia Bank Limited (NAB) announced that they have agreed to “extend until July 15, 2010 end of day the agreement relating to the proposed transaction...
AIG Rejects Lower Prudential Offer for AIA; Deal in Jeopardy
Jun 1 2010 // American International Group said it would not consider revising the terms of a deal for its Asian life insurance unit with British insurer Prudential Plc, in a move that threatens to derail the industry’s largest...
UK’s Prudential Confirms AIA Deal Still On
May 28 2010 // The UK’s Prudential on Thursday denied market talk that it had pulled its $35.5 billion bid for U.S. rival AIG’s Asian unit, after rumors the deal was off boosted Pru’s shares as well as the pound....
Pru In Talks to Lower Price for AIG’s Asian Unit, AIA
May 28 2010 // Prudential has entered talks to cut its $35.5 billion offer for for AIG’s Asian life insurance arm, in a last-ditch bid to salvage a deal criticised by shareholders as too expensive. Prudential chief executive...
Pickering to Head Willis Russia, E. Europe, M.East, So. Africa Operations
May 27 2010 // Willis Group Holdings has appointed Scott Pickering as CEO, Russia, Eastern Europe, the Middle East and South Africa, effective immediately. He will be based in the Al Futtaim Willis office in Dubai and will report to...
More Analysts Warn on Prudential’s $35.5 Billion Deal for AIA
May 27 2010 // A chorus of opposition is growing against Prudential Plc’s bold $35.5 billion takeover of American International Assurance (AIA), with analysts from Singapore to London flagging risks to the deal just weeks ahead of...
Bowring Marsh Opens Tokyo Office
May 20 2010 // Bowring Marsh, the Specialist International Placement Broker at Marsh, has expanded its Asian presence with the opening in Tokyo of its eighth office, which will specialize in property, earthquake and business interruption...
ING’s Good Results Reduce Pressure to Sell Insurance Arm
May 18 2010 // A strong start to the year has taken enough pressure off Dutch bancassurer ING Group to allow it to substantially delay or even potentially scrap the expected 2011 flotation of its insurance business. The talk of ING...
UK’s Prudential Prices $21 Billion Cash Call; Woos Investors
May 17 2010 // British insurer Prudential launched its long-awaited $21 billion cash call and a delayed offensive to woo wary shareholders to back its takeover of rival AIG’s Asian unit. The UK’s Financial Services Authority...
Report: UK’s Prudential to Outline Asia Asset Sales to Fund AIA Buy
May 14 2010 // The UK’s Prudential Plc is expected to outline divestments of some Asian assets in its upcoming rights offering prospectus in an effort to appease shareholder concerns about its planned AIA acquisition, a source...
RMS Licenses Cat Modeling Software Programs to China Re
May 11 2010 // Risk Management Solutions (RMS) announced that China Reinsurance (Group) Corporation, the largest reinsurer in Asia, will “license its catastrophe modeling software to support the expansion of China Re’s...
