Latest Asia Headlines
All the headlines from our Asia Topic Page, ordered by recency.
Berkshire Hathaway Specialty Names Property Leadership in Middle East and Asia
Aug 3 2020 // Berkshire Hathaway Specialty Insurance (BHSI) announced that it has appointed Kapil Palathinkal as head of First Party Lines, Middle East, and Carlos Beltran as head of First Party Lines, Asia, overseeing General Property,...
Allianz Global Corporate & Specialty Restructures to ‘Regain Profitability’
Jul 1 2020 // Allianz Global Corporate & Specialty (AGCS), the industrial insurer of Allianz Group, is embarking on restructuring program, designed “to regain profitability and market leadership in the corporate and specialty...
China Says Food Unlikely to Be Cause of New Virus Outbreak, but Blocks Tyson Imports
Jun 22 2020 // China suspended poultry imports from a Tyson Foods Inc. plant where hundreds of employees tested positive for Covid-19, stoking concerns over the broader implications for U.S. and global meat exports. All products from the...
Moody’s Assigns First-Time A3 Rating to Fosun-Backed Peak Re
Jun 16 2020 // Moody’s Investors Service has assigned an A3 insurance financial strength rating (IFSR) to Hong Kong-based Peak Reinsurance Co. Ltd. with a stable rating outlook. Peak Re’s A3 IFSR reflects its good franchise...
German Insurer Allianz Seeks Asset Management License from China Regulators
Jun 5 2020 // Allianz is in talks with Chinese regulators for a license as the German insurer looks to eventually offer broad asset management services in the world’s second-largest economy. Discussions for a license to manage its...
Grounded Airplanes at Risk from Asia’s Tropical Storm Season, Industry Experts Warn
Jun 3 2020 // Airlines, airports and insurers across Asia are bracing for the prospect of unusually high damage as the region’s tropical storm season begins, as hundreds of aircraft grounded by the coronavirus pandemic can’t...
Commercial Insurance Rates in Q1 Rise 14%, Even Before Impact of COVID-19: Marsh
May 12 2020 // Global average commercial insurance prices increased 14% in the first quarter of 2020 – but the rate hikes were not due to the COVID-19 pandemic, according to insurance broker Marsh in its quarterly Global Insurance...
Beazley Expands M&A Insurance Team with 5 New Underwriters, Geographies
Apr 29 2020 // Specialist insurer Beazley has expanded its mergers & acquisitions (M&A) team with new locations and the appointment of five new underwriters. This follows several years of continuous growth in underwriting...
Marsh JLT Specialty Expands Renewable Energy Team in UK, U.S., and Asia
Apr 28 2020 // Insurance broker Marsh announced key leadership appointments within Marsh JLT Specialty’s Renewable Energy team. Oliver Holme has joined Marsh in the newly created role of UK and U.S. Offshore Wind leader, reporting...
Beazley Gets Approval to Launch Malaysia Company to Build Asia Pacific Distribution
Apr 21 2020 // Specialist insurer Beazley has extended its distribution capabilities in Asia Pacific following the authorization by the Labuan financial regulator of a new service company. The new company, Beazley Labuan Ltd., will...
Hong Kong-Based Peak Re to Acquire Bermuda ILS Asset Manager Lutece
Apr 8 2020 // Peak Reinsurance Co. Ltd. has entered into definitive agreements to acquire 100% of the capital of Lutece Holdings Ltd. and its subsidiary Lutece Investment Management Ltd., a Bermuda-based insurance linked securities...
Munich Re Specialty Group Appoints Boo from Ironshore as Head of Asia
Apr 3 2020 // Munich Re Specialty Group (MRSG) has appointed Hui Yun Boo as head of Asia, effective April 3, 2020. Boo will be based in the firm’s Singapore office and will lead Munich Re Syndicate offices throughout the Asia...
Legacy Specialist Catalina Holdings Completes Purchase of Asia Capital Reinsurance
Mar 31 2020 // Catalina Holdings (Bermuda) Ltd., the legacy re/insurance acquisition specialist, announced it has completed the acquisition of Asia Capital Reinsurance Group Pte. Ltd. (ACR), a Singapore-headquartered reinsurance...
Insurance Unlikely to Cushion Coronavirus Losses – But There Are Exceptions
Mar 4 2020 // Don’t look for much relief from insurers to cushion losses from canceled events, travel disruptions and potential medical claims from the deadly Covid-19 virus that’s sweeping across the globe. The...
Arch Re to Buy Majority Stake in Australia’s Precision Marketing Asia Pacific
Feb 18 2020 // Arch Reinsurance, a wholly owned subsidiary of Bermuda-based Arch Capital Group Ltd., announced it has entered into an agreement in principle to obtain a majority stake in Precision Marketing Asia Pacific (PMAP), subject...
Global Commercial Insurance Prices Increase 11% in 4th Quarter 2019: Marsh
Feb 12 2020 // Global average commercial insurance prices increased 11% in the fourth quarter of 2019, according to the Global Insurance Market Index released by insurance broker Marsh. The fourth quarter rise in prices was the largest...
Prudential in Talks to Fully Control China Venture; Weighs Sale of U.S. Business
Feb 7 2020 // Prudential is in talks that could lead to it taking full control of its 50:50 joint venture with China’s CITIC and is considering selling some or all of its U.S. business to sharpen its focus on Asia, a source told...
Airlines Under Pressure to Halt Flights to China; Update on Cancellations
Jan 31 2020 // Pilots and flight attendants are demanding airlines stop flights to China as health officials declare a global emergency over the rapidly spreading coronavirus, with American Airlines’ pilots filing a lawsuit seeking...
Global Coronavirus Cases Soar to 10,000 as WHO Declares Health Emergency
Jan 31 2020 // The U.K. confirmed its first two cases of coronavirus on Friday, while the U.S. and Japan advised citizens to avoid traveling to China. Singapore suspended visas issued to Chinese citizens. Stocks fell in Europe and Asia...
China’s Mysterious Respiratory Virus Spreads to Health Workers, Different Countries
Jan 21 2020 // China’s mysterious respiratory virus has caused six deaths and infected a number of medical workers, a sign the outbreak has entered a new phase with the illness spreading from person to person. Health-care workers...
