Emerging Markets
Five Insurers Bid for Citigroup Distribution Deal in Asia
Five insurers including MetLife Inc. and AIA Group Ltd. have submitted final bids to have their products distributed by Citigroup in Asia, a deal estimated to generate more than $10 billion in ...
Swiss Re Acquiring Stake in Brazil’s Sul America
Swiss Re Ltd., the world's second- largest reinsurer, agreed to buy an 11 percent stake in Sul America SA from ING Groep NV to expand in Brazil. The reinsurer will also purchase a 3.8 percent holding ...
Eastern Asia Underinsured for Floods, Typhoons: Munich Re
Insured losses from weather-related events in Eastern Asia amount to only about 10 percent of the $700 billion in total losses accumulated over the last three decades, according to an analysis by ...
RMS Reports on Haiyan in Vietnam, China
With Super Typhoon Haiyan making landfall in northern Vietnam late Sunday, Nov. 10, catastrophe modeling firm RMS summarized early damage reports from local agencies on its website today. In a Nov. ...
South Africa’s MMI Acquiring Alexander Forbes Insurance Business
MMI Holdings Ltd., South Africa's third-largest insurer, agreed to pay 1.6 billion rand ($158 million) for Alexander Forbes Ltd.'s insurance business. MMI will fund the cash acquisition of Guardrisk ...
China to Remain Centerpiece of Asia Expansion for Munich Re
Munich Re, the world's biggest reinsurer, said China will remain its biggest growth market in Asia as it considers countries such as India too unpredictable to step up investment. "Our biggest ...
Pirate Attacks by Heavily Armed Gangs Surge off Nigerian Coast
Pirate attacks off Nigeria's coast have jumped by a third this year with ships passing through West Africa's Gulf of Guinea, a major commodities hub, increasingly under threat from gangs wanting to ...
China to Allow Foreign Investors in Finance Sector to Use Yuan
China's central bank will allow foreign businesses to invest in domestic financial firms using offshore yuan funding, it said on Thursday, as part of efforts to broaden the usage of the currency in ...