Industry Segments: M&A Page 3 / 65
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- July 4 2024
Hong Kong’s new RBC regime could trigger more industry consolidation: S&P Global
The higher compliance costs, coupled with earning swings due to market volatility, could lead to an increase in M&A in the sector and force some insurers to raise more capital, said S&P Global Ratings.
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- July 2 2024
Envest appoints ex-Honey Insurance Eoghan Trehy to lead Resilium Partners
The M&A arm which specialises in investing in authorised representatives has hired Trehy as part of its senior executive team, which includes managing director Ben Hastie, and new head of finance Clive Kingsley.
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- June 28 2024
Suncorp’s US$3.2bn bank sale to ANZ gets treasurer’s greenlight
The approval by Treasurer Jim Chalmers has now set in motion the final completion of the deal, now expected by end of July.
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- June 24 2024
Lotte Insurance final bids due June 28, Woori remains in the race
The sale by PE owner JKL Partners, managed by JP Morgan, is targeting US$1.45bn price tag for the carrier.
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- June 24 2024
Income Insurance on S&P CreditWatch negative on potential government support dilution
The CreditWatch followed news that the Singapore government-backed insurer is in talks with Allianz for a stake sale.
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- June 19 2024
Zurich completes acquisition of 70% stake in Kotak General Insurance
The transaction is the largest foreign investment in India’s general insurance market and the first by a foreign insurer since the FDI limit was raised to 74%, according to the global carrier.
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- June 17 2024
Singapore’s Income Insurance confirms buyout talks with Allianz
An application for the partnership has been filed with the Monetary Authority of Singapore, reports say.
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- June 11 2024
Howden broadens New Zealand footprint with Bridges acquisition
The deal expands Howden’s mid-market and SME offering in the country as well as grows its presence in the Waikato region.
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- June 10 2024
AUB picks up 40% stake in UK retail broking network Momentum
The deal gives the Australian intermediary access to an authorised representative network with over 100 partners placing more than US$114m in premium.
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- June 6 2024
RBI approves Zurich’s acquisition of Kotak General Insurance’s 70% stake
All regulatory approvals required for the transaction are now received, according to Kotak Mahindra Bank.
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- June 5 2024
Chubb lands Australian aviation specialist MGA
The global insurer plans to close the acquisition of Melbourne-based Catalyst Aviation Insurance by the end of this month.
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- May 29 2024
Great Eastern’s minority shareholders demand better offer from OCBC: report
The take-private offer is priced at a 30% discount to the Singaporean insurer's embedded value, a metric often used to value insurance firms elsewhere, shareholders say.
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- May 23 2024
AUB completes US$132m placement for Pacific Indemnity deal
The Australian broker issued 7.3m new shares in a private placement primarily to fund the Pacific Indemnity acquisition, with excess funds allocated for other M&A deals in the pipeline.
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- May 22 2024
Diot-Siaci to buy majority stake in Indian broker Unilight
The agreement is expected to strengthen Diot-Siaci's presence in Asia and allow the European broker to participate in the expansion of the Indian insurance market.
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- May 22 2024
AUB to acquire financial lines specialist MGA Pacific Indemnity
The Australian broking group will pay up to US$93.4m for 70% of the underwriting agency and it has launched a US$133m private placement to fund the deal.
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- May 22 2024
Income Insurance exploring strategic options for APAC expansion: Bloomberg
The Singaporean insurer had provided liquidity to almost 16,000 shareholders for holdings worth US$619m through a private exchange listing last month.
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- May 21 2024
Temasek, Warburg Pincus team up to acquire broker Specialist Risk Group
The deal is reportedly aimed at helping the London broker to expand internationally, including in Asia.
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- May 21 2024
Gallagher adds Dean Mahoney as senior account executive with acquisition of niche Perth broker
Mahoney-founded PSC McKenna Hampton South Perth in Western Australia has merged with the global broker effective May 2024.
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- May 16 2024
Swiss Re to exit unprofitable digital white-label platform iptiQ
The reinsurer's Asia premiums grew 5% to US$3.5bn year-to-date from renewals; books US$100m losses from Baltimore Bridge collapse.
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- May 13 2024
Reliance General Insurance owner’s acquisition approved by regulator: report
IRDAI has approved the Hinduja Group‘s acquisition of Reliance Capital's 3 insurance units before the May 27 deadline but under conditions on share transfers and encumbering.
