New CEO in Africa and Asia for Ed

New CEO in Africa and Asia for Ed

New CEO in Africa and Asia for Ed

Ed, the global reinsurance, wholesale and specialty broker, has appointed Minesh Jani as chief executive of Middle East and North Africa (MENA), India and Indian sub-continent. Mr Jani brings more than two decades of reinsurance experience to Ed. He joins from Aashvaasanam Analytics in Mumbai, a business he founded to support the launch and build of an international reinsurance business.…

Chinese online insurer ZhongAn plans $1bn IPO in HK

Chinese online insurer ZhongAn plans $1bn IPO in HK

Chinese online insurer ZhongAn plans $1bn IPO in HK

China’s first online-only insurer, ZhongAn Online Property and Casualty, has been given the green light to launch an Initial public offering (IPO) in Hong Kong, which is expected to raise more than $1bn in finance. According to Reuters, the insurer was granted approval from the Hong Kong Stock Exchange for its listing and is currently assessing investor appetite for its…

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…

Markel enters Indian insurance market through Lloyd’s India platform

Markel enters Indian insurance market through Lloyd’s India platform

Markel enters Indian insurance market through Lloyd’s India platform

Markel International is to enter the Indian insurance market, with capacity provided by Markel’s Syndicate 3000 at Lloyd’s and written through the Lloyd’s India platform, based in Mumbai. Markel has appointed Deepika Mathur to lead Markel India. She has 20 years’ experience of working in the Indian insurance industry, and most recently she was executive vice-president at HDFC Ergo, the…

RMS adds cyclones and earthquakes to its Asia-Pacific risk models

RMS adds cyclones and earthquakes to its Asia-Pacific risk models

RMS adds cyclones and earthquakes to its Asia-Pacific risk models

Risk modelling and analytics firm RMS has expanded its portfolio of risk models with the addition of tropical cyclone and earthquake models covering Asia-Pacific. More specifically, the new models include typhoon models for South Korea and Taiwan, adding to existing ones for Japan and China, as well as earthquake models for Vietnam, Singapore, Malaysia and Thailand, which will not sit…

Willis Towers Watson buys stake in Indian broker

Willis Towers Watson buys stake in Indian broker

Willis Towers Watson buys stake in Indian broker

Willis Towers Watson (WTW) has bought a 49% stake in Almondz Insurance Brokers in India. Willis said the joint venture will combine WTW’s global network and expertise with Almondz’ skilled team and wealth of experience in India. Almondz is a leading Indian composite insurance broker, with more than 300 associates in nine offices in India serving clients with a broad…

Asia operating three-speed insurance market: Allianz

Asia operating three-speed insurance market: Allianz

Asia operating three-speed insurance market: Allianz

Asia’s insurance market may have been growing at an average annual rate of 7.5% for the past nine years and its gross written premiums may account for 32% of total global premium income, but current premium growth rates are sharply divided within the region, according to a recently released report from global insurer Allianz. The report describes the region as…

Global non-life premium growth driven by China and emerging markets in 2016

Global non-life premium growth driven by China and emerging markets in 2016

Global non-life premium growth driven by China and emerging markets in 2016

Another “exceptional performance” in China, together with solid expansion among the emerging countries, saw global non-life premiums grow 3.7% in 2016, down from 4.2% in 2015 but more than the ten-year average growth rate of 2.0%, according to Swiss Re. The reinsurer’s latest sigma report, World insurance in 2016: the China growth engine steams ahead, reveals that premium growth in…

India market report: Liberalisation but tough stance on compliance

India market report: Liberalisation but tough stance on compliance

India market report: Liberalisation but tough stance on compliance

The Indian insurance market has undergone a number of changes in the past few years, not least the raising of the foreign direct investment limit in the insurance sector from 26% to 49%, which has seen a number of global insurers raise the stakes in their Indian joint ventures. There has also been a tougher stance taken by the regulatory…

Africa and India set to boost global economy

Africa and India set to boost global economy

Africa and India set to boost global economy

Africa and India’s growing middle classes are set to give a much-needed boost to the global economy, which otherwise would be facing some stiff headwinds, according to Vikram Mansharamani, a Yale University lecturer on financial booms and busts, and the author of Boombustology. In a keynote speech at the Pensions & Investments Global Future of Retirement conference in New York, Mr…

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