Axa names new Asia CEO in global management reshuffle

Axa names new Asia CEO in global management reshuffle

Axa names new Asia CEO in global management reshuffle

French multinational insurer Axa has unveiled a new management structure for its international operations, which includes the appointment of Gordon Watson as chief executive for Asia, including Japan, effective from 1 January. The role has been vacant since the resignation of Jean-Louis Laurent Josi at the end of June. Axa had hoped to name his successor before the end of…

Non-life insurers in South Korea see weakening top-line growth

Non-life insurers in South Korea see weakening top-line growth

Non-life insurers in South Korea see weakening top-line growth

Non-life insurers in South Korea are increasingly challenged by weakening top-line growth, according to Korean Re’s latest insurance bulletin. It states that South Korea’s non-life insurers are projected to see just a 2.6% increase in premium income for 2017. The general property and casualty insurance sector is expected to grow by 3.5%, backed mostly by casualty lines, notes the bulletin.…

Willis Towers Watson appoints new head for North Asia P&C insurance

Willis Towers Watson appoints new head for North Asia P&C insurance

Willis Towers Watson appoints new head for North Asia P&C insurance

Evariste Yeung has been appointed to lead Willis Towers Watson’s (WTW) property and casualty (P&C) division in north Asia. Mr Yeung will be based in Shanghai and will report to Richard Collis, managing director for WTW’s insurance consulting and technology business in Asia-Pacific. In what is a newly created role, he will be responsible for developing the broker’s north Asia…

AIR Worldwide releases new inland flood model for Japan

AIR Worldwide releases new inland flood model for Japan

AIR Worldwide releases new inland flood model for Japan

Catastrophe modelling firm AIR Worldwide has launched a new inland flood model for Japan, and also released a new version of its Japan typhoon model as part of an update to its catastrophe modelling software platform Touchstone. The flood model, which AIR claims is the first such tool to be developed for Japan, simulates the effects of on- and off-plain…

Ironshore ups political risk capacity for APAC amid ongoing uncertainty

Ironshore ups political risk capacity for APAC amid ongoing uncertainty

Ironshore ups political risk capacity for APAC amid ongoing uncertainty

Specialty insurer Ironshore has expanded its political risk business lines in Asia-Pacific, by increasing capacity for its Singapore-based political risk and trade credit unit from $15m to $50m and hiring a new underwriter. Sam Lim joins from AIG and will report to Boo Hui Yun, managing director of Ironshore Asia-Pacific. The extra capacity is a result of greater concern about…

Economic risks top WEF global risk survey

Economic risks top WEF global risk survey

Economic risks top WEF global risk survey

Global business leaders have named economic risks – specifically unemployment in first place, followed by fiscal crises – as the top threats facing their organisation for the next ten years, according to a new survey by the World Economic Forum (WEF). Publishing its Global Risks Report in partnership with Zurich Insurance and Marsh & McLennan, the WEF said societal risks…

WTW appoints new HK head for Insurance Consulting and Technology division

WTW appoints new HK head for Insurance Consulting and Technology division

WTW appoints new HK head for Insurance Consulting and Technology division

Willis Towers Watson has appointed Albert Li, head of Hong Kong and Taiwan for its Insurance Consulting and Technology business. In his new role, Mr Li will be based in Hong Kong and responsible for managing the Hong Kong business as well as developing opportunities and supporting clients in both Hong Kong and Taiwan. Mr Li will report to Richard…

Multinationals consider implications of UN sanctions on N Korea

Multinationals consider implications of UN sanctions on N Korea

Multinationals consider implications of UN sanctions on N Korea

The ongoing escalations between North Korea and the rest of the world took another step when the United Nations (UN) voted to impose further sanctions on the rogue nation after its sixth and largest nuclear test. The measures were voted for unanimously by the 15 states that sit on the UN Security Council (including Russia and China). As a result,…

South Asian flood disaster exposes the protection gap

South Asian flood disaster exposes the protection gap

South Asian flood disaster exposes the protection gap

The worst floods in South Asia in a decade have claimed more than 1,400 lives and left many more homeless across India, Nepal and Bangladesh. They have also further exposed the protection gap that exists in the region. While the Texas floods caused by Hurricane Harvey have grabbed most of the international headlines, and Typhoons Hato and Pakhar have caused…

Companies could count the cost of Taiwan’s anti-money laundering drive

Companies could count the cost of Taiwan’s anti-money laundering drive

Companies could count the cost of Taiwan’s anti-money laundering drive

Companies in Taiwan will be subject to new rules on anti-money laundering and cybersecurity, due to a series of measures undertaken by the Taiwanese government to improve its reputation as a jurisdiction for international business. In August 2016, state-run bank Mega Financial Holding was fined $180m by US authorities for its poor enforcement of anti-money laundering rules at its New…

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