There was a brief Asia reunion around 89-90 of the original line-up but with with Pat Thrall replacing Steve Howe on guitar. They did a Moscow gig and released a few singles and then broke up again.
Geoff Downes (who did a stint as a Buggle and a Yes-man in 1980) secured the rights to the band's name and retooled it as a hair metal band throughout the 90's with John Payne as bassist/singer.
John Wetton is one-half solo artist and one-half nostalgia act these days mixing his adult contemprary stuff in with songs from his Crimson/ UK/ Asia days.
I think that is when they released a greatest hits (with new tracks). One new song "Days Like These" was really good.