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Mitsui Sumitomo To Offer Coverage Against Cloud Risk
Mitsui Sumitomo Insurance Co. is offering companies protection against computer viruses, cyberattacks and other risks associated with Web-based computing. The Cloud Protector insurance, available from this month, starts with a risk analysis...
Shizuoka Bank Loan Gets Japan Govt-backed Trade Insurance
Japan's Shizuoka Bank (TSE:8355) has secured government-backed insurance coverage on its loan for a hydroelectric power generation project in Vietnam. This marks the first trade insurance offered by Nippon Export and Investment Insurance to...
China Development Bank Had over CNY6trn Assets by 2011 End
China Development Bank Corp. (CDB) saw over CNY 6 trillion total assets by the end of 2011. At the same time, the non-performing loan (NPL) ratio was 0.4%, lower than 1% in consecutive 27 quarters. It is said that CDB newly added CNY 433.3...
China Everbright Bank Saw CNY18bn Unaudited Net 2011
China Everbright Bank Co., Ltd (SHSE: 601818), a commercial bank in China, reaped CNY 18.038 billion net profit attributable to its shareholders in 2011, up 41.03% year on year, according to its un-audited performance express on January 19....
China's Moc To Formulate New Policies For Consumption Stimulus
China's Ministry of Commerce (MOC) is drawing up some new policies to stimulate consumption and will announce these policies after it reaches an agreement with the Ministry of Finance (MOF) and the People's Bank of China (PBOC) and the polic...
India's Sbi To Receive Capital Infusion Of Up To Us$1.59bln
State Bank of India (SBI, BSE:500112) has said the government has approved a capital infusion of Rs 6,000-8,000 crore (US$1.19-$1.59 billion) in the bank by March 31, a step that would help the lender to enhance its business. The Finance Mi...
Chinese Insurers To Be Thirsty For Capital In 2012
Chinese insurance companies are expected to be thirsty for capital in 2012 due to the capital erosion resultant from the unrealized loss in stock market investment in 2011, analysts say. Some life insurance companies in China have seen thei...
China Looking To Establish Deposit Insurance System: Pboc
The People's Bank of China (PBoC), China's central bank, proposed in its 2012 work conference that China should make preparation for the establishment of deposit insurance system, which will help guard against systematic risks of financial...
Insurance Australia Group Raises Catastrophe Reinsurance Cover
Insurance Australia Group (IAG, ASX:IAG) has increased its catastrophe reinsurance cover by 12 per cent for 2012 following a year that included cyclones and flooding in Australia and earthquakes in New Zealand. The general insurer said it f...
Analysis: China Social Security, Ins. Funds Heap Shares In Q3
Social security funds and insurance funds in China were accumulating shares on the Shanghai and Shenzhen bourses in the third quarter of 2011 to take advantage of the bottom of the market, favoring shares in public services and emerging ind...
Aust Bizs Warned To Rain In Debtors Over Christmas Period
Australian credit insurance brokers have warned businesses to rein in debtors over Christmas after September quarter business default claims rose to their second-highest level since the global financial crisis. Around 95 default claims occu...
Japan's Aeon Bank To Take Over Incubator Bank At Year's End
The Deposit Insurance Corp. of Japan said Friday that Aeon Bank will pay 1.98 billion yen (US$25.64 million) to obtain failed Incubator Bank of Japan's assets and deposits. The Aeon Co. (TSE:8267) unit will acquire at the end of the year a...
Japanese Nonlife Insurers' Premium Income Grew In Aug
Premium revenue at the top five Japanese casualty and property insurers crept up 3.8 per cent on the year to a combined 470.8 billion yen (US$6.06 billion) in August, marking the sixth consecutive month of gains. All five firms recorded dou...
Australian Insurer Suncorp's Ceo To Get Pay Rise
Australian insurer Suncorp Group (ASX:SUN)'s chief executive Patrick Snowball has indicated he will stay in the position until at least 2015 after a change to his contract terms that includes a pay rise. Mr Snowball's contract was due to en...
Tune Money, Aia To Ffer Exclusive Deals For Malaysia's Airasia
Tune Money Sdn Bhd and American International Assurance Bhd (AIA) will collaborate to offer a range of insurance protection products exclusively for AirAsia guests in Malaysia. Tune Money is the appointed insurance manager for AirAsia's dire...
China's Ping An Insurance Posts 35 Per Cent Rise In Premiums In 1st 7mos
The Ping An Insurance Group of China (SEHK:02318; SSE:601318) announced on Thursday that it made insurance premiums of 129.48 billion yuan (US$20.25 billion) in the first seven months, a jump of nearly 35 per cent over the same period of las...
Carlyle Cashed HKD7.9bn from Selling 250mn CPIG H-shares
Global well-known private equity (PE) fund Carlyle sold 250 million H-shares in China Pacific Insurance (Group) Co., Ltd. (CPIG, SEHK: 2601, and SHSE: 601601) to cash HKD 7.85 billion as most when the six-month lock-up period expires on Jul...
China May Start Pilot Program For Insurers To Set Up Fund Cos
China may issue pilot program to allow insurance companies to set up fund companies within this year at the earliest, China Securities Journal reported on Friday. The report quoted an unnamed source as saying that the pilot plan has been su...
Huakang Financial On the Track to IPO
The Guangzhou-based insurance agency Huakang Financial is in tutorship period for an initial public offering, said an insider. Following Chinese insurance agency and broker CNinsure's debut on the NASDAQ stock exchange on October 31, 2007,...
NCOIL to Vote on MLR Bill at Summer Meeting
The National Conference of Insurance Legislators will consider a resolution backing federal legislation to benefit agent and broker compensation under the Affordable Care Act at its summer meeting in Newport, R.I. A National Association of...
Starr, Dazhong Started All-aspect Strategic Cooperation
Through ten months of negotiations, Starr International Company, Inc. on July 11, 2011 signed a contract with Dazhong Insurance Company Limited of China to start an all-aspect strategic cooperation. Starr International, which owns a control...
Conrad Warns Flood Victims to Be Wary of Assistance Scams
Washington - Senator Kent Conrad today urged North Dakota residents from flood impacted areas to exercise vigilance when responding to requests for personal information from individuals claiming to represent federal and state agencies. This...
Equity Analyst Says Zurich Financial CFO's Departure a 'Surprise'
Dieter Wemmer, Zurich Financial Services Group's chief financial officer and regional chairman of Europe, will leave the group by the end of the year, a move one equity analyst termed a surprise that may be viewed negatively by the market i...
SDB, Ping An Restructuring Plan Approved
Shenzhen Development Bank (SDB, SZSE: 000001) on June 28, 2011 issued an announcement, saying that its significant assets restructuring project has been approved by the China Securities Regulatory Commission. Last September 2, the Shenzhen-...
Groupama China Converts into Sino-French JV
The China Insurance Regulatory Commission, the insurance industry regulator, just approved Aviation Industry Corporation of China to inject CNY 250 million into Groupama (China) Limited to hold a 50% stake, thus converting Groupama (China)...
Coface Forecasts 8.8% Economic Growth for China in 2011
Coface forecasts 8.8% economic growth for 2011 in China as the domestic economic environment remains buoyant. China's economic stimulus policy contained in the 12th five-year plan (2011-2015) will continue to boost the economic growth this...
China Minsheng Banking Plans RMB Bond Sales in Hong Kong
China Minsheng Banking Corporation Ltd. (SHSE: 600016 and SEHK: 1988), one of the commercial lenders in the country, announced last weekend that it would sell renminbi-denominated bonds in Hong Kong to strengthen its competitiveness out of...
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Mitsui Sumitomo To Offer Coverage Against Cloud Risk
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