Industry Segments: M&A Page 2 / 65
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- August 19 2024
Indian government mulls raising insurance FDI limit to 100% from 74%: report
The proposal, backed by IRDAI, is expected to ease other FDI rules for the sector, including a mandate to have Indian citizens in certain segments of the top management, according to a report by the Times of India.
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- August 19 2024
Central Bank of India set to acquire stakes in Future Generali P&C and life units: report
This acquisition is part of the bank's strategy to expand its presence in the insurance sector. The stakes, to be bought from debt-laden Future Enterprises, is expected to be announced soon, according to the Economic Times.
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- August 13 2024
PSC Insurance acquires specialist broker Eastern Prudential Insurance
The low-cost accommodation specialist wholesale broker has joined the Sydney office of the ASX-listed broking group.
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- August 8 2024
Hiscox terminates sale of DirectAsia to Ignite Thailand
The deal was pulled due to failure in meeting customary conditions and regulatory approvals, however, the Lloyd's player said it is "exploring other options" for the Asian retail business.
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- August 6 2024
MAS defends Allianz’s US$1.6bn cash offer for Income Insurance: report
The regulator's incoming deputy chairman Chee Hong Tat said during a parliamentary session that the central bank was satisfied with the process around the deal and that the potential deal won't adversely impact competition.
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- July 31 2024
Suncorp to ‘sharpen focus on delivering insurance’ as bank sale closes
The Queensland-based insurer has completed the sale of its banking arm to ANZ first announced in 2022 and expects to net US$2.7bn from the transaction.
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- July 30 2024
Ausure acquires Queensland’s Coastsure Insurance Brokers
Coastsure will continue to operate as it has prior to the merger, but with access to more resources and a larger team of insurance broking specialists.
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- July 30 2024
Allianz among bidders for RACQ insurance unit: report
The Australian business is looking to exit the motor insurance business in a sale process run by Bank of America.
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- July 26 2024
Income parent assures of commitment to Singaporeans amid backlash over Allianz deal
Chairman of NTUC Enterprise, the largest shareholder, said that the US$1.6bn Allianz' offer will not alter its "social commitments", and that it will continue to be an active shareholder.
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- July 26 2024
Marsh promotes Kane Sim to chief client officer for private equity and M&A, Pacific
In his previous role, Sydney-based Sim worked as the broker's head of transactional risk for the region.
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- July 25 2024
PSC Insurance acquires specialist broking group Sherpa Insurance
With US$3.9bn in sales, Sherpa Insurance has joined PSC as part of its Sydney branch following the acquisition.
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- July 23 2024
Allianz’s acquisition of Income is unlikely to change Singapore’s market landscape: Fitch
The proposed acquisition is expected to strengthen Allianz’s presence in Asia and to elevate it from the ninth to the fourth-largest composite carrier by insurance revenue in the region.
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- July 22 2024
Income Insurance acquisition highlights Allianz’s increasing focus on South-East Asia: S&P
Allianz Insurance Singapore, rated "A+" with a "stable" outlook, remains a strategically important subsidiary of the group, as the rating reflects the extent of support the rating agency expects from the group.
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- July 19 2024
Income to benefit from Allianz’s global expertise and potential synergies: Fitch
The proposed acquisition is fully in-line with Allianz’s strategic objectives to grow inorganically in property and casualty, the rating agency said.
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- July 19 2024
South Korea’s MG Non-Life insurance gets no bidder third time in a row
Private equity firms JC Flowers and Dayli Partners, which participated in the preliminary bid in April and conducted due diligence on it, have dropped out of the deal.
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- July 17 2024
Allianz makes US$1.6bn offer for 51% of Singapore’s Income Insurance
The offer is subject to the approval of the shareholders of Income Insurance for the amendments to the constitution and the proposed name change.
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- July 16 2024
AUB targets New Zealand expansion through equity partnership with Northco
Northco’s management will retain a significant shareholding "to continue to adopt an entrepreneurial focus for the business".
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- July 13 2024
Great Eastern privatisation deal falls short of compulsory acquisition threshold
Trading in Great Eastern shares will be suspended after OCBC failed to garner enough shares from minority shareholders, putting the take-private bid and the insurer's listing status in a stalemate.
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- July 9 2024
Easing hard market cycle shifts carriers’ focus to APAC M&A, tech megatrends
More (re)insurers are riding on new tech trends to profit from over US$200bn premium potential, as there is also a growing interest in M&A opportunities in the region, according to Aon’s strategy and technology group.
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- July 5 2024
Minority shareholder of Chubb-backed Huatai Insurance puts US$10m stake up for sale
State-owned China General Nuclear Power Group is selling its 0.16% stake in the Beijing-based insurer, as Chubb gradually raised its ownership to 85.53% this year.
