Japan ordered four major non-life insurance companies to improve business practices in connection with anti-competitive activity that aimed to keep premiums high, Finance Minister Shunichi Suzuki said on Tuesday. The order was issued to Aioi Nissay Dowa Insurance, Sompo Japan …
Japan, the world’s top liquefied natural gas (LNG) importer, is facing its latest challenge in securing vital gas supplies from Russia after Western reinsurers said they would halt marine war insurance for ships traveling in Russian waters from Jan. 1. …
Mitsui Sumitomo Insurance Company, a subsidiary of Japan’s MS&AD Insurance Group Holdings, will spend about $400 million to buy U.S. reinsurance broker Transverse, the Nikkei business daily reported on Sunday. The Japanese property insurer aims to gain know-how of the …
MS Amlin Underwriting Limited, the Lloyd’s (re)insurer, has appointed Andrew Carrier to the new position of chief underwriting officer. Carrier will be responsible for managing all of MS AUL’s underwriting business, including the syndicate’s Reinsurance and Specialty Insurance divisions. He …
Japanese insurance companies have spent more than $50 billion on acquisitions over the past five years to become the world’s second-largest buyer of insurance assets, and the deals spree won’t be slowing down any time soon. The cashed-up insurers are …
Allianz Malaysia Bhd. has been chosen to progress in talks to acquire Malaysia’s second-biggest car insurer after edging out Japanese rival Mitsui Sumitomo Insurance Co., people with knowledge of the matter said. AmGeneral Insurance Bhd.’s owners have decided to enter …
Allianz Malaysia Bhd. and Mitsui Sumitomo Insurance Co. have been shortlisted to proceed to the next round of bidding for AmGeneral Insurance Bhd., in a deal that could value Malaysia’s second-biggest car insurer at about $800 million, people with knowledge …
Major global insurers are starting to offer protection against cryptocurrency theft, willing to tackle daunting challenges it brings rather than miss out on this volatile and loosely regulated, but rapidly growing business. So far only a few insurers sell such …
Fairfax Financial Holdings said it has successfully sold a Singapore insurer to Japan’s Mitsui Sumitomo Insurance Co. for US$1.6 billion.The deal between the Toronto, Canada-based P/C insurance, reinsurance and investment management holding company, and Mitsui Sumitomo involves the sale of …
Allianz SE, Europe’s biggest insurer, and France’s AXA SA were among first-round bidders for the rights to distribute general insurance products through Standard Chartered Plc outlets in Asia, according to people with knowledge of the matter. A unit of MS&AD …
