Lloyd's of London has estimated that more than GBP 6.2 billion (USD 9 billion) in insurance policies have been taken out to protect against various risks involved with the 2010 FIFA World Cup in South Africa. The GBP 6.2 billion (USD 9 billion) estimate was divided into three categories; property insurance, contingency insurance and liability insurance, although absent from the estimates were the…

With stories of workplace suicide regularly gaining attention in the media in the last few years, such as Orange owner, France Telecom in 2008-9, and Apple iPhone manufacturer Foxconn in China, does insurance offer compensation to surviving families and beneficiaries of suicides? Foxconn, which manufactures electronic and computer parts, has seen a rash of suicides in 2010, with 10 suicides between…

The third largest insurer in Europe, Assicurazioni Generali SpA of Italy, has expressed interest in acquiring part of the Asian operations of American International Group (AIG), should the latter opt for selling units rather than pursuing an initial public offer for AIA Group Ltd, the current holding company in control of all Asian businesses.

Arthur J. Gallagher & Co. (AJGC), an international insurance brokerage and risk management services firm with headquarters in the city of Itasca, Illinois in the US, has recently reported their acquisition of Risk & Reward Group (R&RG), an employee benefits consultant and insurance broker, based in the UK.

Fortis Healthcare, an Indian company, and Khazanah Nasional Berhad, the Malaysian government's investment holding arm are in the middle of a battle over control of Singaporean healthcare group, Parkway Holdings. Khazanah recently offered S$ 1.18 billion (US$ 835 million) through its subsidiary, Integrated Healthcare, to increase its stake in Parkway to 51.5%, thereby controlling the company.…

What could have resulted to be a game changer for the insurance industry in Asia appears now to be in the process of falling apart by bits, pieces and big chunks in the failed negotiations between Prudential and AIG to acquire AIA in a US$35.5 billion deal (EUR 29.1 billion).

In a recent announcement, the Office of the Commissioner of Insurance of Hong Kong reported that the total Q1 gross premiums of the insurance industry in Hong Kong grew 16.2 percent to US$1.18 billion (EUR 959 million), compared to the same period last year.

International private medical insurance company, HCC Medical Insurance Services (HCCMIS), has recently contracted CMN Inc. to handle administration for healthcare provider networks. By using CMN's services as a Third Party Administrator (TPA), HCC Medical Insurance Services seeks to add to the resources and services…

Indian insurance company, Aegon Religare Life Insurance is searching for banks interested in a potential partnership to further develop its bancassurance business. In trying to solidify their multi-distribution channel strategy, Aegon Religare is in talks to find medium- to large-size commercial banks for long-term strategic partnerships revolving around bancassurance distribution models. The…

Manulife (International) based in Hong Kong and Munich Health, a unit of the global re-insurer Munich Re, have recently decided to form a long-term business partnership to capture a share of the group life and medical insurance market created by the ongoing government-driven medical reforms, plus other factors created by an ageing population, increasing medical costs and the effects caused by the global financial tsunami.