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…

Insurance M&A report from Clyde & Co highlights regional growth

Insurance M&A report from Clyde & Co highlights regional growth

Insurance M&A report from Clyde & Co highlights regional growth

The Americas, driven by the US, were once again the most active region for M&A in 2018, according to Clyde & Co’s report, Shifting sands of M&A – A Regional Outlook. It reveals that 11 of the year’s largest deals worldwide involved acquirors based in the Americas. Clyde & Co’s report says that while dealmaking in the Americas will continue…

New Japan desk for Liberty International Underwriters

New Japan desk for Liberty International Underwriters

New Japan desk for Liberty International Underwriters

Liberty International Underwriters has established a Japan desk as it sees considerable growth potential in the Japanese market. The insurer has recently appointed Kohei Watanabe as head of business development for Japan for Liberty International Underwriters. “We see Japan as a market of interest and growth potential for Liberty. Over the past few years, the majority of our product lines…

POP and Rakuten partner for M&A insurance in Japan

POP and Rakuten partner for M&A insurance in Japan

POP and Rakuten partner for M&A insurance in Japan

Sydney-based specialist insurer POP Insurance has signed a strategic agreement with Japanese e-commerce company Rakuten to develop a range of transaction insurance products. The products will focus on merger and acquisition (M&A) insurance, thereby capitalising on the current corporate consolidation boom in Japan. The collaboration involves POP’s subsidiary, Fusion Specialty M&A MGA, and Rakuten General Insurance. Under the terms of…

Growing Japanese investment in Russia sparks deal between MSI and Ingosstrakh

Growing Japanese investment in Russia sparks deal between MSI and Ingosstrakh

Growing Japanese investment in Russia sparks deal between MSI and Ingosstrakh

Japanese insurer Mitsui Sumitomo Insurance (MSI) has concluded a strategic alliance with Ingosstrakh Insurance Company, the fourth biggest non-life insurance company in the Russian Federation based on 2017 gross written premiums, in a deal designed to support the growing activities of Japanese companies in Russia. The latest move in Russia follows a series of deals and acquisitions carried out by…

Mitsui snaps up ILS fund manager as insurers pile into ILS business

Mitsui snaps up ILS fund manager as insurers pile into ILS business

Mitsui snaps up ILS fund manager as insurers pile into ILS business

Japanese insurer Mitsui Sumitomo has made a majority acquisition of insurance-linked securities (ILS) fund manager Leadenhall Capital partners (LCP) to further boost its own ILS business. The deal also comes at a time when some of the world’s biggest insurers are making their own acquisitions in the sector, in what could have major implications for the specialist insurance market. Mitsui’s…

Tokio Marine reshuffles boardroom to pursue overseas M&A

Tokio Marine reshuffles boardroom to pursue overseas M&A

Tokio Marine reshuffles boardroom to pursue overseas M&A

Japan’s largest property and casualty (P&C) insurer Tokio Marine has announced a series of executive appointments and signalled an intention to actively pursue international acquisitions. The most notable boardroom change is the departure of long-time chairman of the board Shuzo Simi, who is leaving after nearly five decades at the company. He will be replaced by current president and chief…

Japan’s big three non-life insurers report first-half results

Japan’s big three non-life insurers report first-half results

Japan’s big three non-life insurers report first-half results

Japan’s three major non-life insurance groups have reported an aggregate 20.8% fall in net income to JPY122.3bn in the first half of 2018 fiscal year (to 30 September 2018), according to the country’s Financial Services Agency (FSA). Tokio Marine Holdings, MS&AD Insurance Group Holdings, and SOMPO Holdings also saw a slight decrease in aggregate consolidated net premiums written to JPY5149.9bn,…

AIG appoints ex MetLife Japan boss as new Asia-Pacific CEO

AIG appoints ex MetLife Japan boss as new Asia-Pacific CEO

AIG appoints ex MetLife Japan boss as new Asia-Pacific CEO

US insurer AIG has appointed Sachin Shah as the chief executive of its Asia-Pacific general insurance business. Mr Shah, who was formerly the president, chairman and chief executive of MetLife Japan, will take up his new role at the end of December, subject to regulatory approval. He will be based in Singapore and report to AIG’s general insurance CEO Christopher…

Strong capitalisation for Japan’s leading P&C insurers despite record cat losses

Strong capitalisation for Japan’s leading P&C insurers despite record cat losses

Strong capitalisation for Japan’s leading P&C insurers despite record cat losses

Despite record high domestic wind and flood catastrophe losses, Japan’s leading property and casualty (P&C) insurance groups remain profitable with strong capitalisation, according to Moody’s Japan KK. However, although the profitability of the three groups’ P&C businesses in Japan remains strong, it is peaking. The three P&C insurance groups are: Tokio Marine Holdings, Sompo Holdings, and MS&AD Insurance Group Holdings.…

1 2 3 12