Office workers fled high-rise buildings in the Indonesian capital on Tuesday after a strong earthquake shook the city, causing some injuries and damage to at least 130 buildings elsewhere on the densely populated island of Java. The relatively shallow quake …
Ant Financial, the finance affiliate of Alibaba Group Holding, and Indonesian media company Elang Mahkota Teknologi (Emtek) are to form a joint venture to offer payment and financial services in Indonesia. The Emtek tie-up is Ant’s fifth international payments deal …
Indonesia’s government said this week it will take strong action after a cruise ship destroyed coral reefs in a popular tourist area known for its extensive marine biodiversity. The 4,200-ton cruise ship M.V. Caledonian Sky entered the waters of Radja …
An M6.5 earthquake jolted the northernmost area of Sumatra, Indonesia, on Dec. 7 at 5:03 a.m. local time, with nearly 100 fatalities and more than 600 injuries reported. The epicenter was 19 kilometers (11.8 miles) southeast of Sigli and 92.3 …
Various regulatory initiatives in Asian markets could lead to greater demand for local reinsurance capacity as direct insurers rethink risk management strategies and appetite, according to a report published by Fitch Ratings. “Asian regulators have implemented – or are in …
Fairfax Financial Holdings Ltd., the Canadian investment firm led by Prem Watsa, is in advanced talks to buy control of Indonesian financial group PT Paninvest’s non-life insurance unit, people with knowledge of the matter said. The transaction would value the …
Allianz SE, AXA SA and Sompo Japan Nipponkoa Holdings Inc. made final bids for the rights to distribute their general insurance products through CIMB Group Holdings Bhd.’s branches across Asia, people with knowledge of the matter said. CIMB could fetch …
The purchase of reinsurance by Indonesian non-life insurers is high, which could have a significant effect on capital requirements and magnify the capital impact of changes to reinsurance asset quality, according to anA.M. Bestspecial report. The report, titled “Risk-Based Capital …
According to catastrophe modeling firm AIR Worldwide, the rains of the past week across Southeast Asia have been much higher than average, even for a period during which Southeast Asian countries normally experience heavy monsoon rains. AIR noted that “severe …
European banks have loaned in excess of $3 trillion to emerging markets, more than four times U.S. lenders and putting them at greater risk if financial market turmoil in countries such as Turkey, Brazil, India and South Africa intensifies. The …
