Asia, Hong Kong

MGA NuVu Underwriting launches in Hong Kong

2018-04-16T12:56:00+01:00

Former Nexus Asia CEO Jeremy Austen has joined HWI International Group to launch NuVu Underwriting, a managing general agent based in Hong Kong.

qbe logo

QBE promotes Singh to group CFO as Ford exits in management shake up

2018-04-11T06:30:00+01:00

Australian carrier QBE has named Inder Singh as its new group chief financial officer (CFO), replacing Michael Ford who is leaving the company.

Singapore, harbour night

Beazley looks to grow Asia Pacific operations with regional new head

2018-04-11T09:41:00+01:00

Beazley has appointed Lucien Mounier to head its Asia Pacific operations based out of Singapore.

Asia, Hong Kong

Dugland promoted to TMK Asia chief

2018-04-05T10:27:00+01:00

Tokio Marine Kiln’s (TMK) former regional underwriting director for Asia, Alex Dugland has been named the carrier’s new managing director for the region.

Anbang

Anbang gets $9.7bn bailout after Chinese government takes control

2018-04-04T07:39:00+01:00

Anbang has been bailed out to the tune of RMB60.8bn ($9.66bn) just months after the country’s insurance regulator took over the firm in the wake of its chairman’s arrest.

Japan flood

Mitsui and Aioi sponsor $320mn Japanese cat bond

2018-04-04T10:16:00+01:00

Mitsui Sumitomo (MSI) and Aioi Nissay Dowa (ADI), both subsidiaries of Japanese insurance giant MS&AD, have jointly sponsored a $320mn (33.9bn yen) cat bond for natural catastrophe risks in the country.

Mumbai

GIC Re becomes fifth new 2018 Lloyd’s syndicate start-up

2018-04-03T07:06:00+01:00

Indian reinsurance powerhouse GIC Re has finally realised its ambition of owning a Lloyd’s platform and become the fifth full Lloyd’s syndicate start-up for 2018 after its Syndicate 1947 began incepting risks at 1.4.

Anbang

Former Anbang chairman denies ‘economic crime’ charges

2018-03-28T08:09:00+01:00

Wu Xiaohui, the former chairman of Chinese insurer Anbang who was arrested as part of a broader crackdown on the country’s financial system last year, has denied all charges against him at the start of his trial in Shanghai today (28 March), according to reports.

Cyclone debbie

Perils Debbie loss estimate tops out at AUD1.74bn

2018-03-28T06:42:00+01:00

Catastrophe data provider Perils has finalised its loss estimate for Cyclone Debbie which swept across parts of Queensland and New South Wales last year at AUD1.74bn ($1.33bn).

Perth

BHSI mints Perth office with Chubb hires

2018-03-26T07:23:00+01:00

Berkshire Hathaway Specialty Insurance (BHSI) is continuing to make a concerted push into Australia as it opens a new office in Perth

Guo shuqing at 2008 world economic forum on latin america

China puts former banking head in charge of new joint regulator

2018-03-21T13:42:00+00:00

Former head of the China Banking Regulatory Commission (CBRC) Guo Shuqing has been named the new chief of a joint insurance and banking regulator as the country looks to crackdown on risky financial practices.

Ping An

Ping An’s P&C premiums surge over 12% to $32bn in 2017

2018-03-20T13:03:00+00:00

Chinese insurance giant Ping An saw its property and casualty premiums surge by more than over 12 percent in 2017 as it wrote more than RMB200bn ($31.58bn) of business.

French construction liability, CBL, Alpha EISL

Ed instructed to plug EUR33mn capacity gap caused by Alpha run-off

2018-03-19T16:28:00+00:00

An underwriting subsidiary of now-defunct CBL has instructed broker Ed to fill the approximately EUR33mn hole left in its capacity supply by the failure of Danish insurer Alpha, re-Insurance.com understands.

Asia, Singapore

JLT Re swoops on Aon Benfield for Asia treaty CEO

2018-03-19T12:41:00+00:00

JLT Re has appointed Vinod Krishnan CEO of treaty business in Asia.

Indian gov

GIC Re’s Lloyd’s syndicate to launch on 1 April

2018-03-19T11:24:00+00:00

Indian reinsurer GIC Re has been given the go ahead for its Lloyd’s syndicate — GIC Syndicate 1947 – to begin writing business in Lloyd’s from 1st April, according to local media reports.

6132678949 4beec2f141 b

China to merge banking and insurance regulators

2018-03-13T08:27:00+00:00

China is set to combine its insurance and banking regulatory oversight bodies as leader Xi Jinping accelerates his campaign to clean up the country’s heavily-leveraged financial system.

Tokyo, Japan skyline

Japanese 1.4 reinsurance renewals set to come in flat

2018-03-12T17:13:00+00:00

Japan’s six largest reinsurance renewals at 1.4 are expected to come in flat after years of compound rate reductions, with international markets reluctant to countenance further cuts in the wake of a relatively stronger 1.1 this year, re-Insurance.com understands.

Great wall of china

China cracks down on opaque insurance ownership structures

2018-03-07T09:03:00+00:00

The China Insurance Regulatory Commission (CIRC) has issued new rules for reporting of insurance companies’ equity ownership amid concerns over the transparency of investors’ holdings and source of funds.

Peter harris cbl

CBL’s Harris withdraws from MC gala event

2018-03-05T12:05:00+00:00

With a soothsayer ability to make Mystic Meg blush, Angerstein predicted last week that there may be one empty seat at the prestigious EY World Entrepreneur of the Year awards in Monte Carlo in June 2018.

CBL’s reinsurance arrangements with MGAs Aipha and Elite...

Danish regulator now raises prospect of Alpha insolvency

2018-03-05T16:49:00+00:00

A day after Danish Alpha Insurance said it was entering “solvent” run-off, the Danish financial regulator, DFSA, has said the distressed carrier “no longer complies with the minimum capital requirement” which may have “negative implications for the policyholders”.