M&A Archives - InsuranceAsia News https://insuranceasianews.com/industry_segments/ma/ Wed, 16 Oct 2024 03:51:27 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 Central Bank of India’s acquisition of stake in Generali JVs gets antitrust approval https://insuranceasianews.com/central-bank-of-indias-acquisition-of-stake-in-generali-jvs-gets-antitrust-approval/ Wed, 16 Oct 2024 03:07:28 +0000 https://insuranceasianews.com/?p=164911 The Competition Commission of India has cleared the state-owned lender's acquisition of 24.91% equity stake in Future Generali India and a 25.18% equity stake in Future Generali India Life.

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The Competition Commission of India (CCI) has approved the state-owned lender Central Bank of India's proposed acquisition of minority stakes in Generali’s India arms – Future Generali India Insurance...

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]]> Specialist Risk Group makes Asia foray with Singapore acquisition https://insuranceasianews.com/specialist-risk-group-makes-asia-foray-with-singapore-acquisition/ Tue, 15 Oct 2024 08:09:14 +0000 https://insuranceasianews.com/?p=164831 The Temasek and Warburg Pincus-backed UK intermediary has agreed to acquire broker HL Suntek.

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London-based broker Specialist Risk Group (SRG) has announced its launch in Asia Pacific with the acquisition of Singaporean intermediary HL Suntek Insurance Brokers.
SRG’s newly established subsidiar...

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]]> Allianz, NTUC Enterprise and Income to review government’s objections to the deal https://insuranceasianews.com/allianz-ntuc-enterprise-and-income-to-review-governments-objections-to-the-deal/ Tue, 15 Oct 2024 04:42:04 +0000 https://insuranceasianews.com/?p=164781 Allianz said it will consider revisions to the proposed transaction structure, while the government clarified that it is open to future new proposals if its concerns are addressed.

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Allianz, Income Insurance and its parent NTUC Enterprise said they are reviewing the Singapore government's objection to the proposed merger.
In response to the government blocking the German insurer'...

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]]> Singapore government rejects Allianz-Income deal https://insuranceasianews.com/singapore-government-rejects-allianz-income-deal/ Mon, 14 Oct 2024 06:01:02 +0000 https://insuranceasianews.com/?p=164721 "The government has assessed the proposed transaction and has decided that it would not be in the public interest for the transaction, in its current form, to proceed," minister Edwin Tong told parliament today.

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The Singapore government has intervened to stop Allianz’s proposed acquisition of local insurer Income, according to a report by Singapore's business media CNA.
"The government has assessed the propos...

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]]> Brown & Brown completes acquisition of Singaporean broker Acorn https://insuranceasianews.com/brown-brown-completes-acquisition-of-singaporean-broker-acorn/ Thu, 10 Oct 2024 03:28:22 +0000 https://insuranceasianews.com/?p=164553 First announced in January, the deal by the US group's European arm Bridge Specialty is the brokerage group's second in the region after it entered Hong Kong last year through the acquisition of Capstone Brokers.

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Bridge Specialty International, US broking giant Brown & Brown Europe's wholesale and specialty brokerage group, has completed the acquisition of Singaporean broker Acorn International Network. Th...

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]]> Optio Group acquires MGA Circles Group https://insuranceasianews.com/optio-group-acquires-mga-circles-group/ Thu, 03 Oct 2024 10:39:55 +0000 https://insuranceasianews.com/?p=164076 The MGA that has offices in Hong Kong and Singapore is part of Optio's global expansion strategy.

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Specialty managing general agent (MGA) Optio Group has acquired Circles Group, a Luxembourg-based MGA, which has operations in Hong Kong and Singapore , it said in a press statement.
The acquisition, ...

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]]> PSC shares delist from ASX as Ardonagh’s US$1.5bn takeover becomes effective https://insuranceasianews.com/psc-shares-delist-from-asx-as-ardonaghs-us1-5bn-takeover-becomes-effective/ Wed, 02 Oct 2024 09:29:53 +0000 https://insuranceasianews.com/?p=163990 The completion of the takeover by the UK broking group now wraps up PSC Insurance's nine years of trading and quotation on the Australian Securities Exchange.

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PSC Insurance says trading of its shares on the ASX will be suspended from the close of trading day on October 2, as the takeover bid launched by UK broking group Ardonagh has become effective after t...

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]]> India government may merge some state-owned general insurers: report https://insuranceasianews.com/india-government-may-merge-some-state-owned-general-insurers-report/ Thu, 26 Sep 2024 09:57:50 +0000 https://insuranceasianews.com/?p=163621 Over the last few years, the government has been considering several options for the firms such as mergers, listing, and strategic disinvestment.

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The Indian government may merge one or more of the three non-life insurance companies into The New India Assurance Co. as their listing on the bourses looks bleak, according to a report by the Informi...

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]]> PSC shareholders approve Ardonagh’s US$1.5bn takeover https://insuranceasianews.com/psc-shareholders-approve-ardonaghs-us1-5bn-takeover/ Thu, 26 Sep 2024 07:42:25 +0000 https://insuranceasianews.com/?p=163592 The broker merger in Australia is now pending final approval by the court, which is slated for October 1.

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UK broking group Ardonagh is a step closer to completing its AU$2.3 billion (US$1.5 billion) acquisition of Australian broking group PSC, after receiving  approval from 99% of the direct and proxy vot...

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]]> Price Forbes ropes in Honan’s Thomas Russell to spearhead Singapore ANZ division https://insuranceasianews.com/price-forbes-ropes-in-honans-thomas-russell-to-spearhead-singapore-anz-division/ Wed, 25 Sep 2024 08:57:38 +0000 https://insuranceasianews.com/?p=163496 Russell has taken up the newly created role as director, head of Australia and New Zealand wholesale for Asia in a newly created position reporting to Phil Johnson, CEO for APAC.

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Ardonagh Group-owned specialty broker Price Forbes has hired Thomas Russell as director, head of Australia and New Zealand wholesale for Asia in a newly created position based in Singapore.
Russell (p...

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