Multi-national insurer, the ACE Group, has announced the appointment of Jeffery Hager as the new Regional President for ACE Far East. Mr Hager will be responsible for ACE's property and casualty (P&C) and accident and health (A&H) insurance businesses in Japan. The post is based in Tokyo with Mr Hager reporting to ACE's Vice Chairman, ACE Limited, and Chairman Insurance Overseas - General: Mr John…

A series of studies has highlighted concerns about the number of people dying from chronic non-communicable diseases in the group of ten countries forming the Association of Southeast Asian Nations (ASEAN). The studies published in a recent addition of the Lancet journal…

The Vienna Insurance Group (VIG) has announced better than expected profits for 2010, highlighting the improvement in trading conditions in the fourth quarter last year. In a preliminary report covering operations in 2010, the insurer confirmed that it achieved a pre-tax profit of €505 million (US$686.8 million) reflecting a 15 percent year-on-year increase in margins. VIG initial evaluation of trading…

The impact of de-tariffing in the Indian general insurance industry has lead to a challenging time for Indian insurers during the 2007-2010 period. This factor is highlighted in a report by rating agency ICRA. The combination of tough economic conditions and the de-tariffing of the fire, motor and engineering sectors in the Indian insurance industry has resulted in a recorded compounded annual growth…

The German based Ergo Insurance Group has announced that it has entered into two separate insurance ventures to strengthen its presence in Asia. In China, Ergo has entered into a life insurance joint venture with a local assets investment company. In Vietnam, Ergo has acquired a stake in a Vietnamese non-life insurance specialist. Ergo Insurance, a subsidiary of global reinsurer Munich Re, announced…

The provision of employer-provided health insurance is expected to increase by an average of 10.5 percent globally during 2011. This assessment is identified by specific regions worldwide in a report by global professional services firm Tower Watson. The Latin American region is expected to experience the largest cost increase this year at 13.7 percent, followed by North America at 11.6 percent. The…

PruHealth, the joint venture between British insurance giant Prudential and Discovery Holdings is launching a new health product range. It will be the first new product to be released by PruHealth since its take-over of Standard Life Healthcare UK…

The UK Government published its 350-page health bill detailing the proposed reform of the established British National Healthcare System (NHS). Implementation of the plans contained in the bill and associated documents - released on the 19th January 2011 - will see an unprecedented reform of the British healthcare system. The pro-market based shake-up of the UK healthcare system is expected to save…

Terveystalo, the established Finnish healthcare group has announced that it will acquire the ODL Tervey's network of medical facilities from its current owners - Oulun Diakonissalaitos foundation. Terveystalo will take-over the Oulu's Deaconess Institute's health services in order to consolidate their existing Finnish private healthcare operations. The acquisition will provide Terveystalo with healthcare…

A recent report conducted in Korea has indicated that the outlook for the near future of the Korean Health Insurance system is rather grim. The Health Insurance Policy Institute under the National Health Insurance Corp. (NHIC) estimated that by 2020, there will be a 16 trillion won (US$ 14 billion) annual deficit in this sector. This figure already assumes a steady increase in the insurance premium…