Hashtag: #Asia
Explosion Insurance Losses Could Be $1.5B
The insured losses from a series of explosions at a chemical warehouse in Tianjin on 12 August are “likely to be material” for Chinese insurance companies, potentially exceeding $1 – 1.5 billion, said Fitch Ratings, as the “high insurance penetration rate in this area could make the blasts one of the most costly catastrophe claims... Read more of this article
America’s Cup To Be Broadcast In China
Following an agreement with CCTV Sports Channel, the America’s Cup will be broadcast in China, the organisers announced today. Today’s announcement follows after other broadcast agreements were announced; NBC Sports is set to show the America’s Cup in the United States; French broadcaster CANAL+ will broadcast the America’s Cup to... Read more of this article
Bermuda-Based Chinese Insurer Signs Deal
A Bermuda-based Chinese insurance company is poised to launch an innovative risk-industry product under a deal signed in Hamilton this month. A signing ceremony, held earlier this month at the Hamilton Princess hotel to formally mark the new venture, was attended by Chinese and Bermuda companies, Bermuda’s regulator, and the Bermuda Business Development... Read more of this article
Photos: Philippine Embassy Team Visit Bermuda
It was a busy time for the Filipino Association as they were visited by the Philippine Embassy team from Washington DC for this year’s consular and labour outreach. “A total of 242 Philippine passports renewals, 12 Reports of Births, 8 Reports of Marriage, and 3 Oaths of Dual Citizenship, and authentication of documents were held by the Consular... Read more of this article
SoftBank Team Japan Enter The America’s Cup
The America’s Cup have confirmed that a Japanese team will enter the race, with SoftBank Team Japan set to compete in the 2015 America’s Cup World Series events and challenge for the 2017 America’s Cup in Bermuda. The statement said, “SoftBank Corp. and the Kansai Yacht Club announced they have come to an agreement to challenge for the... Read more of this article
Reports: Japanese Team To Join America’s Cup
A Japanese team is expected to announce they will enter the America’s Cup, according to media report from the Japan Times, sailing website Scuttlebutt and the Independent. Scuttlebutt Sailing News reports, “The long-heralded announcement that Japan is to challenge again for the America’s Cup is expected finally to be made by the end of next... Read more of this article
Allied World Completes Acquisitions In Asia
Allied World Assurance Company Holdings has completed the acquisitions of the Hong Kong and Singapore operations of Royal & Sun Alliance Insurance plc [RSA]. The closings follow receipt of all necessary regulatory and court approvals. The acquisitions, announced in August 2014 and valued at approximately $193 million at current exchange rates,... Read more of this article
Flora Duffy Wins XTERRA Race In Philippines
[Updated] Flora Duffy has made a strong start to her 2015 competitive season, racing to victory in the XTERRA Off Road Triathlon in Philippines this weekend, with the Bermudian crossing the line some 12 minutes ahead of the second place female athlete. The two-time Olympian dominated the international field in the 1.5K-swim, 35K bike and 10K run, winning... Read more of this article
Cargo Ship Sinks Off Vietnam With 19 Crew
A cargo ship — operated by Bermuda-registered Gearbulk Holding Limited — sank off East Vietnam Sea on Friday [Jan 2] carrying at least 19 Filipino crew members. The New York Times reports that only one man is known to have survived, and e lone survivor — the chief cook on the ship — is refusing to cooperate with rescuers, making... Read more of this article
China Re Receives Approval From Lloyd’s
China Reinsurance [Group] Corporation has received approval from Lloyd’s to transform its existing special purpose syndicate into a stand-alone syndicate that will underwrite a diversified book of business, initially focussing on reinsurance, incepting from 1 January 2015. The China Re Syndicate [Syndicate 2088] will be managed by Catlin Underwriting... Read more of this article
Appleby To Provide Legal Advice In China
Appleby has become the first offshore law firm licensed to provide offshore legal advice in Mainland China where it has had a Shanghai base since 2012. To date, the leading offshore fiduciary and legal advisory firm has been delivering fiduciary services only from Shanghai. The formal announcement of a legal practice certificate opens up the opportunity... Read more of this article
Allianz Begins Paying Claims For Missing Plane
German insurance firm Allianz SE — which has a presence in Bermuda — has started paying insurance claims related to missing Malaysia Airlines flight MH370; the plane, which was carrying 239 passengers, went missing on March 8, 2014, shortly after taking off. The Boeing 777-200 departed Kuala Lumpur International Airport and was expected... Read more of this article
Allianz Lead Insurer Of Missing Malaysia Plane
Allianz Risk Transfer — which has a presence in Bermuda — is the lead insurer covering the Malaysia Airlines jet that disappeared over the Pacific Ocean this weekend. A spokesperson for Allianz said: “Allianz Global Corporate & Specialty can confirm that it is the lead insurer for Malaysia Airlines [for aviation hull and liability... Read more of this article
Malaysian MP Slammed For “Triangle” Remark
Malaysian politician Mohammad Nizar Jamaluddin [pictured] has been accused of insensitive behaviour due to his suggestion that there is a “new Bermuda Triangle” when commenting on the missing Malaysia Airlines flight. The airplane — carrying 239 people — disappeared while traveling from Malaysia to China, with air traffic controllers... Read more of this article
Tourism Minister Comments On Singapore Trip
Minister of Tourism Development and Transport Shawn Crockwell today commented on his recent trip to Singapore to examine their gaming industry. Minister Crockwell was joined by Attorney-General Mark Pettingill and a technical officer from the A-G’s chambers. On the way to Singapore the delegation stopped in London where they met with 2 Hare Court,... Read more of this article
Philippine Consuls To Visit Bermuda Next Month
The Association of Filipinos in Bermuda announced that Consuls from the Philippine Embassy in Washington D.C. will be visiting the island from February 21 through February 23 in order to hold a Consular and Labour Outreach Mission to the Filipino Community here in Bermuda. The Embassy team, led by Consul Arlene Magno and Labour Attache Luz Padilla,... Read more of this article
