Retrospective Asia 2003-2012

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• December
  Japan: Fukushima accident reassessed at 129 billion USD Thailand: An insurance hub for the ASEAN region
• November
  China: Natural catastrophes, important economic losses for the first nine months of the year India: Indian market opens to foreign investors
• October
  China Re and Korean Re have entered the top ten of the most important reinsurers Pakistan: Nearly 78% of motorists are not insured
• July
  China: Foreign insurers are struggling to develop their motor portfolio Taiwan: AXA lost a battle in Taiwan
• June
  Cambodia: Establishment of the first Cambodian life company Vietnam: Expansion of insurance premiums
• May
  China: Flight delay insurance India: Hardening of reinsurance terms
• April
  An insurance consortium for terrorism risk Japan: Capitalization of non-life insurers
• March
  Malaysia: First motor tariff rise in thirty years Thailand: Establishment of a compensation fund for natural catastrophes
• February
  India: Private insurers authorized to develop activities abroad Thailand: Profound changes affecting insurance
• January
  China: China will be the second largest life insurance market in 2020 Japan: Insurers are no longer keen on covering the Fukushima nuclear plant

• December
  Reinsurance, job offers remain high in Asia India: Debate over the privatization of state-run companies
• November
  China: Six insurers authorized to issue their own motor tariffs Thailand: Floods would cost roughly 5.6 billion USD
• October
  Asian reinsurers are strong enough to cope with natural catastrophes Thailand: The new distribution networks are boosting sales of insurance policies
• July
  India: AXA has a new partner in India Japan: The cost of the earthquake in Japan amounts to 211 billion USD
• June
  South Korea: Bancassurance is booming Taiwan: Taiwan, the world’s highest penetration rate
• May
  ASEAN region, establishment of a compensation fund for victims of natural catastrophes Japan: Fitch downgrades the outlook of four Japanese insurers
• April
  India: Motor insurance provisions are underestimated Japan: More women have life insurance
• March
  China: Two of the largest insurers accused of fraud Vietnam: Significant potential for brokerage
• February
  China: A new regulation concerning workmen’s compensation insurance Taiwan: Acquisitions, insurers must have deep pockets
• January
  Microinsurance represents a market worth 40 billion USD in Asia China: Invincible insurance giants

• December
  Philippines: The insurance market is one of the smallest in Asia Vietnam: Generali is expanding in Asia
• November
  Azerbaijan: Axa acquires MBASK insurer Philippines: Munich Re reinsures agricultural cooperatives
• October
  Malaysia: Road crashes account for heavy economic losses Singapore: Works of art insurance is in full swing
• July
  Indonesia: Zurich Financial Services takes control over Mayapada Life Singapore: New reinsurance hubs are emerging
• June
  China: The universal exhibition thoroughly insured Philippines: Low premiums’ level is slowing down the indemnifications
• May
  Cambodia: Traffic accidents cost the country 248 million USD Japan: Insurers are broadening the range of their products to women
• April
  China: The Chinese life insurance is required to focus on quality Indonesia: The British Aviva in Indonesia
• March
  India: Restriction of the legal cession as of April 1, 2010 Japan: The successive recalls of Toyota cars may have a significant impact on insurance
• February
  India: Indian insurers highly exposed to terrorism risks Vietnam: Foreign insurers are developing life insurance
• January
  China: Climate change in China India: Insurers are becoming major players on the financial markets

• December
  China: A Chinese ship hijacked with 400 million USD of sums insured Philippines: Reinsurers are making the toll of their exposure to recent natural disasters in Asia and Samoa
• November
  China: China stiffens its regulation Malaysia: Growing demand for actuaries in Malaysia
• October
  Armenia: Microinsurance for the have-nots Vietnam : Insurance companies are optimistic
• July
  India: Postal Life Insurance scheme Singapore : Fraud increasing
• June
  Singapore: Swiss Re relocates its marine reinsurance activities Taiwan: A Taiwanese legal officer declares war to life insurers
• May
  China: Four national banks authorized to create an insurance company Pakistan: Privatisation of state-owned companies
• April
  Japan: Merger between two non life insurance companies Vietnam : Penalty for non insured drivers
• January
  Vietnam: VNI starts its activities

• December
  China: AIG’s activities in Asia repurchased
• November
  Japan: Yamato Life goes bankrupt
• July
  China: 306.6 million CYN for the victims of the Sichuan Province earthquake India: Partnership between Hannover Re and GIC Re
• June
  Burma: Cyclone Nargis costs10 billion USD of material damages China: Earthquake in the Sichuan province
• May
  India: Progressive liberalisation of the sector Malaysia: Munich Re intends to control 20% of the takaful reinsurance market
• April
  India: A low-cost microinsurance scheme
• March
  China: Damage caused by storms compensated Japan: The Lloyd’s is restructing its activities in Japan
• January
  India: Sanctions for companies not respecting the tariffs in force Iran: State-owned companies open their capital to private ones

• December
  India: New standards governing the market India: Increasing demand for terrorism insurance
• October
  China: Partner Re opens an office in Beijing Japan: The typhoon Fitow assessed at 1 billion USD
• June
  China: Shares of foreign insurers are increasing Pakistan: A standard motor TPL insurance plan
• May
  China: Lloyd’s starts officially its activities India: Establishment of the «Indian Motor Pool»
• April
  South Korea: AXA acquired 75% of Kyobo Auto's capital
• March
  China: March & Mc Lennan is getting settled in China India: Air India brings together state owned and private insurers
• February
  China: The government is assisting China Reinsurance India: Objection to the 150% increase in motor insurance tariffs
• January
  China: The French group BNP will create an insurance company in China

• December
  India: A new regulation favoring foreign investment Singapore: Creation of Asia Capital Re (ACR)
• November
  China: Three giants are sharing about 80% of life insurance market India: Brokerage still in its early stages
• July
  China: Zurich Financial Services launched a non life company, Zurich Insurance Co. Beijing
• June
  China: PICC is disengaging from earthquake risk Indonesia: Toll of the Java eathquake
• May
  India: Aviva Life expands its branches network
• April
  India: Increase of the tax on premiums Japan: Creation of Rakuten Insurance Planning
• March
  China: An insurance scheme for old people
• February
  India: Munich Re is investing in microinsurance
• January
  Vietnam: AIG Vietnam, first American company to operate in the market Vietnam: The coverage rate of life insurance is very low

• December
  India: Insurance in quest of a protection against cybercriminality Kazakhstan: Compulsory ecological insurance
• November
  China: The Shenzhou VI astronauts are insured for more than 1.2 million USD Pakistan: The deadly earthquake of 8 October
• October
  India: The July floods caused 3.5 billion USD in economic damages Japan: The cost of natural catastrophes amounts to 537 million USD
• July
  Pakistan: Creation of Pak Kuwait Takaful
• June
  Iran: The Bazar will be insured
• May
  Japan: No access to Japanese waters for non insured ships Vietnam: China Ping An Consortium opens an office in Hanoi
• April
  South Korea: The number of insurance fraud cases increased by 77% Japan: Tokyo tops the world list of risky urban areas
• March
  Iran: Asia, Dana and Alborz will be privatised
• February
  India: Compensations for the 2004 Tsunami victims drag on Sri Lanka: The creation a natural catastrophes pool is under way
• January
  China: Foreign insurers will have access to life market Iran: Privatization of insurance companies will soon start

• December
  China: Groupama, the first company to propose an agricultural insurance policy Philippines: Toll of the tropical storm Winnie and typhoon Nonmadol
• November
  India: Creation of Munich Re India Services in Mumbai
• September
  Iran: The entry of foreign insurers shall contribute to the market development
• April
  India: General Insurance Corporation (GIC) targets Afro-Asian markets Iran: All habitants of the rural zones will be insured soon
• March
  Iran: Heavy toll for the train accident in the Northeast of Iran Iran: Reform of the insurance sector
• January
  China : China Life had the most important listing transaction in 2003 Iran: Bam earthquake, a provisional toll

• December
  Iran: Bimeh Markazi in quest of cooperation with the largest reinsurers
• November
  South Korea: Indemnification of typhoon «Maemi»’s victims
• September
  China: Hong Kong, Severe Acute Respiratory Syndrome, indemnification of 492 files China: The local market is henceforth open to foreign companies