HSBC

• Co-Op Paves Way for Lloyds Deal with Disposal Plan

  By Matt Scuffham, Reuters  |  March 21, 2013

  The Co-operative, Britain's largest mutually-owned business, paved the way for the purchase of 632 bank branches from Lloyds as it announced on Thursday that it planned to sell its general insurance arm to bolster its finances.

• China Regulator Seeks Info on HSBC-Ping An Deal

  By Reuters  |  January 10, 2013

  China's insurance regulator is seeking more information from Ping An Insurance after reviewing HSBC's planned sale of its $9.4 billion stake in China's No. 2 insurer to Thailand's CP Group.

• AIG to Raise Up to $6.5B Through AIA Share Sale: Sources

  By Elzio Barreto, Reuters  |  December 17, 2012

  American International Group Inc may raise as much as $6.5 billion from the sale of its remaining stake in AIA Group Ltd in Asia's second-largest block sale ever, exiting a business the U.S. insurer started nearly 100 years ago.

• Thai Group Buys $9.4B Ping An Stake from HSBC

  By Kelvin Soh and Denny Thomas (Reuters)  |  December 5, 2012

  A conglomerate controlled by Thailand's richest man has bought a minority stake in China's Ping An Insurance for $9.38 billion from global bank HSBC, a bold move that ranks as Asia's second-largest deal this year.

• Zurich Q1 Profit Jumps

  By Reuters  |  May 10, 2012

  Switzerland's Zurich Insurance Group beat expectations on Thursday with a 78 percent rise in first-quarter profit, helped by fewer large natural catastrophes than the year before, and said premiums were set to rise.

• AXA, QBE Seek HSBC P&C Businesses for $914M

  By Chad Hemenway, PropertyCasualty360.com  |  March 8, 2012

  AXA and QBE are looking to continue growth in emerging markets with purchases of HSBC's P&C business. AXA would become the top P&C provider in Hong Kong with its buy.

• HSBC, Morgan Stanley Exit MBIA Litigation

  By Mark E. Ruquet, PropertyCasualty360.com  |  December 13, 2011

  Financial institutions Morgan Stanley and HSBC reached an agreement with guaranty insurer MBIA to withdraw from their legal challenges and go their separate ways, leaving five firms to battle it out over the insurer’s restructuring and accusations the banks fraudulently secured insurance coverage.

• Kane Acquires HSBC Insurance Management Operations

  By Staff Writer  |  June 1, 2011

  Kane today announced the successful completion of its acquisition of the insurance management operations of HSBC.

• Banks Say MBIA Undervalued Losses By As Much As $10B

  By Mark E. Ruquet, PropertyCasualty360.com  |  March 24, 2011

  A group of banks seeking to prevent guaranty insurer MBIA from splitting into two companies says the company underestimated its losses by as much as $10 billion to the New York Insurance Department.

• Kane To Pay $27.5M For HSBC Insurance Management Operations

  By Caroline McDonald, PropertyCasualty360.com  |  March 11, 2011

  Kane, which provides specialist risk and insurance management services, announced today it has signed an agreement to acquire the insurance management operations of HSBC for $27.5 million.

• GPP, R-T Specialty hires, New Lockton Office, Austin Mutual merges - Around the Industry

  By Staff Writer  |  January 18, 2011

  Parker, Smith & Feek hires new CFO, GPP names two sales execs.

• Lockton Opens Branch In China

  By Staff Writer  |  January 18, 2011

  Kansas City, Mo.-based insurance broker Lockton said it has received approval from the China Insurance Regulatory Commission to open a new branch office in China, based in Beijing.

• Offshoring Trends: From Cost Reduction to Growth Strategies

  By Aamer Mumtaz  |  August 16, 2010

  Instead of using offshoring for cost-reduction purposes alone, insurers should evaluate it as nothing less than part and parcel of their strategic efforts to increase growth and profitability.

• Blane Named CUO Of Hartford's Financial Products International

  By Staff Writer  |  July 13, 2010

  Hedley Blane was named chief underwriting officer of the Hartford Financial Services Group Inc.'s subsidiary, Hartford Financial Products International Ltd (HFPI).

• Top Brokerages Report Mixed Results

  By Mark E. Ruquet, PropertyCasualty360.com  |  May 24, 2010

  The three biggest insurance brokerages reported mixed results for the first quarter, with Aon seeing a big drop in net income, Marsh & McLennan reporting a substantial gain, and Willis a more modest jump.

• MMC Reports First Quarter Profits Up 41%

  By Mark E. Ruquet, PropertyCasualty360.com  |  May 4, 2010

  Marsh & McLennan Companies reported first-quarter net income rose 41 percent over the period last year as its business segments controlled costs and benefited from economic improvement.