Insurance growth in China to be boosted by economic fiscal measures

Insurance growth in China to be boosted by economic fiscal measures

Insurance growth in China to be boosted by economic fiscal measures

China’s government will make stronger use of fiscal measures to support economic growth in 2019-2020, at a time that scope for monetary policy easing is limited, according to the Swiss Re Institute. In a paper entitled Economic Insights: Fiscal policy to boost economic and insurance growth in China, the Swiss Re Institute states that the anticipated fiscal actions will boost demand…

AIG hires new head for Singapore office

AIG hires new head for Singapore office

AIG hires new head for Singapore office

Global insurer AIG has appointed Christian Sandric to act as president and chief executive of its Singapore office. Mr Sandric, an AIG veteran of more than 20 years, will report to Sachin Shah, Asia-Pacific chief executive of AIG General Insurance. Mr Sandric, who will take up his new post in April, will be responsible for leading AIG’s Singapore business and…

New York, London and Hong Kong are top three financial centres

New York, London and Hong Kong are top three financial centres

New York, London and Hong Kong are top three financial centres

New York is still the leading financial centre in the world, followed by London and Hong Kong, according to the 25th Global Financial Centres Index, published by Z/Yen Partners and the China Development Institute. According to the index, New York remains in first place, just seven points ahead of London, with Hong Kong four points behind London in third. Singapore…

Marsh raises shareholding in Marsh India to 49%

Marsh raises shareholding in Marsh India to 49%

Marsh raises shareholding in Marsh India to 49%

Marsh has increased its shareholding in Marsh India from 26% to 49%, the maximum permitted foreign direct investment in India-based insurance broking firms, according to The Economic Times. The transaction has been approved by the Indian insurance regulator, the Insurance Regulatory and Development Authority (IRDAI). Marsh India is a joint venture between Marsh International Holdings and its India-based partners, including…

Zurich Australia launches M&A underwriting agency

Zurich Australia launches M&A underwriting agency

Zurich Australia launches M&A underwriting agency

Zurich Australia has teamed up with Fusion Specialty Insurance to launch a mergers and acquisitions (M&A) underwriting agency partnership. Under the terms of the collaboration, Zurich will delegate its underwriting authority to Fusion M&A, which will write warranties and indemnity insurance on its behalf. The agency will focus on supporting cross-border M&A transactions across Asia-Pacific. Fusion M&A is a subsidiary…

Boeing suspends entire 737 Max fleet as insurance details come to light

Boeing suspends entire 737 Max fleet as insurance details come to light

Boeing suspends entire 737 Max fleet as insurance details come to light

Boeing has suspended all 371 of its worldwide 737 Max aircraft fleet, after the US became the last major country to ground the planes over safety fears. The decision follows news that Global Aerospace is the lead insurer for Boeing, with Chubb confirmed as lead underwriter of the Ethiopian Airlines plane that crashed on Sunday and Willis Towers Watson the broker…

China Re brings Chinese renewable energy risks to London

China Re brings Chinese renewable energy risks to London

China Re brings Chinese renewable energy risks to London

China Re, now the biggest reinsurance group in Asia and eighth globally by premium income, has announced the launch of a renewable energy consortium at Lloyd’s, to help support China’s massive national renewable power development project. The booming Chinese offshore sector has benefited from a commitment by President Xi Jinping to provide $360bn to renewable power development by 2020. The…

AGCS launches product recall for emerging automotive risks

AGCS launches product recall for emerging automotive risks

AGCS launches product recall for emerging automotive risks

Allianz Global Corporate & Specialty (AGCS) has launched product recall cover for UK manufacturers of automotive component parts, although the company said it will expand to other markets including North America and Asia in due course. AGCS said the product would cover buyers for expenses linked to a recall – including repair, replacement and legal defence costs – as well…

ArgoGlobal appoints CUO for Europe and Asia

ArgoGlobal appoints CUO for Europe and Asia

ArgoGlobal appoints CUO for Europe and Asia

Lloyd’s insurer ArgoGlobal has appointed Alfredo Alonso chief underwriting officer for Europe, Middle East and Asia. Mr Alonso will take up the post in London this month, where he will report to Matt Harris, group head of international operations. Mr Alonso joins ArgoGlobal from RSA, where he worked in chief underwriting roles for the past seven years and most recently…

Lockton appoints new COO for Asia

Lockton appoints new COO for Asia

Lockton appoints new COO for Asia

US-based independent insurance broker Lockton has hired a former JLT executive as its first chief operating officer (COO) for Asia. Philip Corrigan, previously chief executive of JLT Thailand, will work alongside Lockton’s various teams across the region – in China, Hong Kong, Singapore, South Korea and Thailand, Malaysia and the Philippines. His appointment is designed to support Lockton’s Asian expansion…

1 2 3 90