Japan insurers’ global expansion justified by operating results: AM Best

Japan insurers’ global expansion justified by operating results: AM Best

Japan insurers’ global expansion justified by operating results: AM Best

The decision by Japan’s leading non-life insurers to significantly expand their international operations through high profile acquisitions in the past couple of years, has helped them to offset higher levels of financial leverage and manage their interest rate exposures. The deals were not cheap but made economic sense, according to AM Best. The expansion of the Japanese insurers in recent…

EU and Japan target speedy conclusion of trade negotiations as protectionism rises

EU and Japan target speedy conclusion of trade negotiations as protectionism rises

EU and Japan target speedy conclusion of trade negotiations as protectionism rises

As risk managers try to work out the implications of growing protectionism in key global markets, the European Union and Japan have decided to seek a speedy conclusion to their latest trade talks. EU Presidents Jean-Claude Juncker and Donald Tusk meet today with Japan’s Prime Minister Shinzo Abe. Negotiations for a bilateral trade deal will feature high on the agenda.…

US and Japanese regulators discuss issues of mutual concern

US and Japanese regulators discuss issues of mutual concern

US and Japanese regulators discuss issues of mutual concern

Regulators of the world’s two largest insurance markets have come together to discuss regulatory issues of mutual concern. Representatives from the US National Association of Insurance Commissioners (NAIC) met recently with the Financial Services Agency of Japan (FSA). The two insurance markets represent more than 47% of worldwide premium income. At the NAIC-FSA Insurance Regulatory Dialogue, the regulators discussed regulatory…

China accounts for half of 2016 global premium growth, Allianz research finds

China accounts for half of 2016 global premium growth, Allianz research finds

China accounts for half of 2016 global premium growth, Allianz research finds

Total global premium income rose by 4.4% to a new record high in 2016 of €3,650bn, but almost half of this growth is attributable to the Chinese market and notably the life market, according to initial projections by Allianz Research. On the property and casualty insurance side, global gross written premiums are likely to have increased by 4.0%. This would…

Sompo develops online reputation insurance for corporates

Sompo develops online reputation insurance for corporates

Sompo develops online reputation insurance for corporates

Japanese insurer Sompo has launched a new insurance policy designed to protect a business from online attacks on its reputation, otherwise known as ‘enjo’. The practice, also known varyingly as flaming or doxing, refers to mass, sustained attacks via social media or the flooding of websites with negative comments. Typically, these attacks emanate from the fans of celebrities maligned by…

Swiss Re opens KL office and appoints new Japan head

Swiss Re opens KL office and appoints new Japan head

Swiss Re opens KL office and appoints new Japan head

Swiss Re Corporate Solutions (SRCS) has commenced operations at its newly opened Malaysian office. Based in Kuala Lumpur, the office has been granted a reinsurance license by the Labuan Financial Services Authority and will target medium to large Malaysian businesses, servicing them with local broking partners and intermediaries. According to Fred Kleiterp, SRCS’s APAC chief executive, a local presence will…

Zurich restructures its APAC business

Zurich restructures its APAC business

Zurich restructures its APAC business

International insurer Zurich has announced a major overhaul of its Asia-Pacific business, merging its corporate and commercial units into a single division. The integration is designed to simplify its business and give clients a single point of entry, said the insurer, and will be conducted on a country-by-country basis. The move will also mean several personnel changes. The new combined…

Landmark case in HK could push up price of D&O insurance

Landmark case in HK could push up price of D&O insurance

Landmark case in HK could push up price of D&O insurance

Risk managers and insurers are eyeing the progress of a landmark Hong Kong tribunal that could have massive implications for D&O insurance in the region. The case involves Chinese state-backed conglomerate Citic, formerly known as Citic Pacific, which specialises in mining. The company ran into trouble back in 2008, when the chairman Larry Yung discovered a HK$15bn loss through unauthorised…

Scandals highlight rising D&O risk in corporate Asia

Scandals highlight rising D&O risk in corporate Asia

Scandals highlight rising D&O risk in corporate Asia

High level executives in Asia corporates face a much greater risk of litigation and liability due to more stringent regulation, greater shareholder activism and the continued threat of cyber attacks. Recent events involving some of Asia’s most high profile corporate brands – from Toshiba to Samsung – have highlighted the clear and present danger facing directors and officers. Japanese conglomerate…

‘End of globalisation’ biggest threat to APAC corporates: report

‘End of globalisation’ biggest threat to APAC corporates: report

‘End of globalisation’ biggest threat to APAC corporates: report

The potential end of globalisation is the number one threat to Asian companies, according to report from risk consultancy Control Risks. The report, which ranks the top five business risks for Asia-Pacific, states that the demise of globalisation, “at least as Asia-Pacific knows it”, will undermine the benefits the region’s companies have enjoyed in terms of trade, direct investment and…

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