The administrators for defunct New Zealand carrier CBL have put on ice plans for a meeting to establish the insurer’s fate as they work to thrash out a last-ditch deal with the firm’s directors.
Australian carrier IAG has agreed to sell its majority stake in its Thai, Indonesian and Vietnamese operations in a series of transactions which should net the company around $200mn.
US carrier Markel has been granted a license by the Indian regulator to write reinsurance business in the country through the Lloyd’s India platform.
MS Amlin has made three underwriting appointments to its Asia Pacific team as the carrier looks to expand its footprint in the region.
Of all the cities in the world, Japan’s capital is the one that faces the greatest risk to its economic output, according to a study by Lloyd’s.
Chinese insurer Anbang has launched a bid to find a new strategic investor after its founder and former chairman was jailed over “economic crime” charges amid a state bailout.
Japan’s big three carriers posted a mixed set of results , with all of MS&AD, Tokio Marine and Sompo hit by changes to the US tax code.
Profits in Sompo’s overseas business, which includes Sompo International - formerly Endurance - more than doubled last year as the group benefited from a tax gain driven by an internal restructure.
Profits at Tokio Marine slipped by a quarter in 2017 as a string of catastrophe events and large losses weighed on the Japanese giant’s full year results.
Japanese reinsurer Toa Re is expanding its operations to Continental Europe with a Zurich-based underwriting platform.
The founder and former chairman of Chinese insurance giant Anbang, Wu Xiaohui, has been sentenced to 18 years in prison after a trial in a Shanghai court in which the executive pled guilty to fundraising fraud and embezzlement.