Live Insurance News

Insurance news from Zurich is that it is looking to expand in Asian market

September 11, 2012September 11, 2012 H. Cutner

The insurer is seeking to broaden its presence in Indonesia and China. The largest Swiss insurer, Zurich Insurance Group, has revealed in its latest insurance news, that it is working to obtain additional licenses in order to be able to broaden its business in Chinese cities, as an element of its strategy to boost its presence in emerging markets. This announcement came from Martin Senn, Zurich’s chief executive officer. Senn also stated that while the insurer does see opportunities for growth in the channel of mergers and acquisitions, the company…

Insurance news shows that China is a more challenging marketplace than anticipated

August 28, 2012August 27, 2012 Julie Campbell

The compulsory auto coverage has both advantages and drawbacks for insurers. The Chinese marketplace is a captive one, and though this would seem like it is positive insurance news, particularly for the insurers, themselves, it is coming with its struggles. Fitch Ratings has reported that this environment is leading to some surprising losses. Although the law in China requires all motorists to have a car policy, which should – in theory – dilute the risk that is associated with underwriting that coverage, the most recent insurance news numbers are showing…

China insurance industry to face major challenges this year, according to Regulatory Commission

January 9, 2012January 9, 2012 S.Vagus

China may be home to one of the fastest growing insurance markets on the planet, but Xiang Junbo, chairman of the Chinese Insurance Regulatory Commission, says that the industry is faced with major challenges this year. Last year, Chinese insurers saw return on investment results drop by 3.6%. When coupled with the now notorious natural disasters of 2011, the results have rocked the nation’s insurance industry somewhat. Regulators say that if the coming challenges cannot be overcome, the growth of the insurance market may grow beyond the industry’s ability to…

China insurance market growing too fast for domestic insurers to handle

December 2, 2011 H. Cutner

China’s insurance market is experience major growing pains, according to a report from Standard & Poor’s, a credit rating agency based in the U.S. The Chinese market is, by all accounts, enormous and the potential for success in second to none. The full breadth of this potential success, however, is open only to Chinese insurers. Native insurers are now facing demand for coverage that they are having trouble meeting. Many companies, including New China Life, one of the largest life insurers in the country, are plagued with capital shortfalls due…

AIR Worldwide introduces new disaster model for China’s agriculture industry.

November 1, 2011November 1, 2011 H. Cutner

China’s insurance industry is growing at an alarming rate. The nation has introduced several new laws that make insurance more affordable for citizens and the nation’s market more appealing to foreign companies. One of the fastest growing markets in China is agriculture. AIR Worldwide, a global risk modeling agency, has released a new model assessing the risk of China’s crops. The model is among the first of its kind to be introduced to China and details a number of factors that can influence the pricing of crop insurance in the…