Thailand News

Fitch Notes Reinsurers More Risk-Focused For More Asian Catastrophes

Fitch Ratings has issued a statement which points out that the “spate of Asia-Pacific catastrophes in the past two years have prompted reinsurers to take stock of their existing portfolio and re-evaluate their underwriting approach and risk appetite.” As a …

Flood Risks Rampant across Asia’s Factory Zones; Insurers Concerned

Global insurance companies are struggling to get a grip on their flood exposure in Asia nearly a year after one of the world’s costliest disasters hit Thailand, with executives fearing an even worse event may strike the region. Some firms …

$370 Billion Econ. Losses for 2011; $116 Billion Insured, Says Swiss Re

Although everyone is more or less aware that 2011 was a very bad year for losses from natural catastrophes, the figures compiled by Swiss Re evince just how bad they actually were. In its latest sigma study the reinsurer points …

ING Puts $775 Million Thailand Bank Stake up for Sale – Sources

ING Groep NV has put its roughly $775 million stake in Thailand’s TMB Bank Pcl on the block as the bailed-out Dutch financial services group pushes ahead with Asian divestments, sources familiar with the matter told Reuters. ING, which is …

Thailand’s Thanachart Bank Ready to Sell Insurance Ops Say Souces

Thailand’s Thanachart Bank Pcl, backed by Canada’s Bank of Nova Scotia, is preparing to sell its insurance operations in a deal could fetch about $500 million, sources familiar with the matter said on Friday. The sale would likely include a …

Thai Reinsurance Expects 2012 Loss from Floods

Thai Reinsurance Pcl expects to post a net loss for a second year in 2012 as the country’s leading reinsurer is hit by higher provisions from flooding last year that have pushed up insurance premiums for natural disasters, a top …

Best Analyzes Impact of Flood Losses on Thai Insurance Industry

A.M. Best Co. has released a briefing that provides updated estimates of insurers’ losses from the Thailand floods. The overall industry wide insurers’ loss estimates from the floods have increased 50 percent to $15 billion since Best’s last briefing on …

UPDATE: Insured Loss Estimates from Thailand Floods

Everest Re Estimates Q4 Total Catastrophe Losses at $245 Million

The Bermuda-based Everest Re Group announced that it expects to incur net catastrophe losses of approximately $245 million, after reinstatement premiums and taxes, for the quarter. “This loss provision includes an estimate for the floods in Thailand, with losses now …

UPDATE: Insured Loss Estimates from Thailand Floods