Asian market News

UK-Based BMS Group Launches Asia Broking Operations with M&A Insurance Focus

BMS Group Ltd., the London-based independent specialist insurance and reinsurance broker, announced the launch of its Asia broking operations, headquartered in Singapore and with proposed operations in Hong Kong, pending regulatory approval. BMS Asia will initially focus on M&A insurance …

Berkshire Hathaway Specialty Names Property Leadership in Middle East and Asia

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, Energy and Construction. Palathinkal, who is based …

Grounded Airplanes at Risk from Asia’s Tropical Storm Season, Industry Experts Warn

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 be moved easily. Major airports in storm-vulnerable regions …

Munich Re Specialty Group Appoints Boo from Ironshore as Head of Asia

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 region. Boo has …

Sirius Expands Facultative Cover, Tapping Underwriters from Asia Capital Re

Bermuda-based Sirius International Insurance Group Ltd. announced it is expanding its facultative product offerings in the Asian region to better service its clients, beginning in early 2020. Through its office in Singapore, Sirius Group will onboard a team of key …

Berkshire Hathaway Specialty Insurance Offers Commercial Crime Cover in Asia Market

Berkshire Hathaway Specialty Insurance (BHSI) announced that it is introducing Commercial Crime Insurance in Asia, a new policy designed to help companies address the exposures of a changing fraud landscape. BHSI’s Commercial Crime Insurance policy offers concise contract language for …

Aviva to Retain China, Singapore Businesses After Conducting Asian Review

Aviva Plc, the U.K. insurer that’s overhauling some businesses as part of its chief executive officer’s turnaround plan, is to retain its Chinese joint venture as well as assets in its biggest market, Singapore. The firm will continue to explore …

TMK Launches Flagship Cyber Product, Cyber Ctrl, in Asia

Tokio Marine Kiln (TMK) has launched its flagship cyber product, Cyber Ctrl, targeted at insurers in Asia. The product covers a range of first party losses including business interruption and provides clients with crisis management support in the wake of …

Guy Carpenter Names Samengo-Turner as Global Facultative Leader

Guy Carpenter & Co., a reinsurance broker and subsidiary of Marsh & McLennan Cos., announced the appointment of Dominic Samengo-Turner as global facultative leader. At the same time, insurance broker Marsh has appointed Simon Delchar as head of Marsh JLT …

Allianz, MS&AD, Other Suitors in Race to Buy Aviva’s Asia Units for Up to $2.5B: Sources

German insurer Allianz, Nippon Life and MS&AD Insurance are vying with rivals to buy the Singapore and Vietnam businesses of Britain’s Aviva in a deal likely to be worth up to $2.5 billion, sources said. Canada’s Sun Life Financial and …