Zurich Insurance Group, one of the world's largest insurers, has worked to expand its presence in international insurance markets with the launch of two new offices in the Asia Pacific and Middle East, areas ripe for further business development, this past week. On Wednesday the Swiss insurance group announced that it had successfully set up a new subsidiary in Singapore, Zurich Life Insurance (Singapore)…

Important new details surrounding China's ambitious plans to improve their national healthcare and insurance systems are beginning to emerge. A circular issued by the State Council General Office on Wednesday outlines several of the Mainland government's reform objectives for 2012, and how this could impact those involved in the state healthcare system over the coming year. The rapid economic rise…

Insurance Australia Group (IAG) has taken another step towards increasing its pan-Asian footprint, with the announcement of a planned acquisition of shares in Vietnam's fifth largest motor insurance company this week. In a statement released to the Australian stock exchange on Tuesday, the Sydney-based insurance giant confirmed…

German insurance group ERGO announced Friday that they will finally be entering the Chinese insurance market after receiving the necessary start-up permissions from local regulators to launch a joint venture operation with a Mainland government-backed partner. ERGO Insurance, a subsidiary of…

India's fast growing demand for affordable health cover is attracting greater business attention, with both life and non-life insurance companies now entering the market with innovative new protection and savings medical insurance products. This intense competition for health insurance customers has only intensified in recent months, with the introduction of new savings-linked and investment-oriented…

Insurance Australia Group (IAG) finalized its acquisition of a 20 percent stake in China's Bohai Property Insurance Ltd this week, marking the Australian giant's first venture into the fast-moving Chinese insurance market. The move comes as part of the company's long-term effort to boost its presence across Asia's rapidly developing insurance markets. IAG confirmed their purchase of a strategic interest…

A massive undersea earthquake registering a magnitude of 8.6 struck off the coast of Indonesia's Sumatra Island yesterday, causing tremors in nearby provinces and countries and triggering tsunami warnings across the Indian Ocean. Although the incident now appears to have produced little in terms of property damage or any casualties, insurers have once again been reminded of the sizeable risks that…

The Emirate of Dubai is reaffirming their commitment to medical tourism by increasing cooperation between public and private healthcare operators through a new national development initiative. Last week, the Crown Prince of Dubai, Shaikh Hamdan bin Mohammed bin Rashid Al Maktoum, called a meeting with top officials from various government and private sector bodies to discuss the Dubai Health Authority's…

South Korea's largest insurance companies have incurred sizeable losses in overseas markets over the past year due to the rise in costs associated with launching and operating branches in foreign countries. A new report from the country's financial watchdog revealed both the overall extent of the losses and what might be done to alleviate the transition from local to international insurance markets…

2011 was a year of heavy storms, devastating floods, and record-shattering earthquakes, but how much did these catastrophic events actually cost the global economy? A new report from Swiss Re, the world's second largest reinsurance group, aims to find out. In their latest sigma study, released last week, the Zurich-based…