Fund raising Archives - InsuranceAsia News https://insuranceasianews.com/industry_segments/fund-raising/ Mon, 15 Jul 2024 10:10:22 +0000 en-US hourly 1 https://wordpress.org/?v=6.6.2 Ping An Insurance eyes US$3.5bn fundraise: report https://insuranceasianews.com/ping-an-insurance-eyes-us3-5bn-fundraise-report/ Mon, 15 Jul 2024 10:09:05 +0000 https://insuranceasianews.com/?p=158120 The insurer will raise the funds through a convertible bond offering, according to a Bloomberg report.

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Chinese insurer Ping An Insurance is looking to raise US$3.5 billion through a convertible bond offering, according to a Bloomberg report.
The proceeds of the offering will be used to further develop ...

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]]> Hong Kong’s new RBC regime could trigger more industry consolidation: S&P Global https://insuranceasianews.com/hong-kongs-new-rbc-regime-could-trigger-more-industry-consolidation-sp-global/ Thu, 04 Jul 2024 09:35:22 +0000 https://insuranceasianews.com/?p=157392 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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The rollout of the risk-based capital regime in Hong Kong may force some carriers to raise more capital to better cover risks from interest rate and investment market volatility, with the higher comp...

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]]> FWD Group revives IPO plan, targets valuation up to US$9bn: report https://insuranceasianews.com/fwd-group-revives-ipo-plan-targets-valuation-up-to-us9bn-report/ Thu, 06 Jun 2024 09:55:16 +0000 https://insuranceasianews.com/?p=155341 The offer size and timeline for the initial public offering are yet to be finalised, Reuters said in a report quoting three anonymous sources.

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FWD Group Holdings has revived its plans for the initial stake sale of shares to the public, according to a Reuters report quoting three anonymous sources. 
The Hong Kong-headquartered insurer, backed...

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]]> Fairfax-backed Go Digit’s US$314m India IPO fully subscribed https://insuranceasianews.com/fairfax-backed-go-set-to-raise-us314m-from-ipo/ Sun, 19 May 2024 23:00:25 +0000 https://insuranceasianews.com/?p=154180 The IPO was 9.6 times subscribed at the close of bookbuilding and is slated for trading on May 23.

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India’s Go Digit General Insurance’s initial public offering (IPO) will raise up to INR26.14 billion (US$314 million) at a valuation of over US$3 billion.
The IPO was subscribed 9.6 times at the close...

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]]> Fairfax-backed Go Digit’s downsized IPO set for May 15 launch https://insuranceasianews.com/fairfax-backed-go-digits-downsized-ipo-set-for-may-15-launch/ Fri, 10 May 2024 05:46:17 +0000 https://insuranceasianews.com/?p=153713 The listing on Indian stock exchanges could raise up to US$313m after the digital insurer reduced the new shares on offer and nearly halved the size of existing shares sale.

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Fairfax-backed Indian insurer Go Digit Insurance will start book-building for its up to INR26 billion (US$313 million) IPO on Indian stock exchanges on May 15, according to a company announcement.
The...

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]]> Singapore’s Income Insurance debut on digital securities exchange https://insuranceasianews.com/singapores-income-insurance-debut-on-digital-securities-exchange/ Tue, 30 Apr 2024 08:02:46 +0000 https://insuranceasianews.com/?p=153094 Trading on platform AltaX provides liquidity to the insurer's almost 16,000 shareholders, who hold stocks valued at about US$619m.

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Shares of Singaporean insurer Income Insurance debuted on AltaX, the exchange platform of private digital securities exchange Alta, on April 30, according to a press release.
The trade was part of the...

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]]> Australian insurtech Honey raises US$71.5m in a series A funding https://insuranceasianews.com/australian-insurtech-honey-raises-us71-5m-in-a-series-a-funding/ Tue, 09 Apr 2024 21:00:29 +0000 https://insuranceasianews.com/?p=151194 The investment for the specialist home insurance startup backed by RACQ was led by the US private firm Gallatin Point Capital.

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Australian specialist home insurtech Honey Insurance has raised AU$108 million (US$71.5 million) in a Series A funding round led by Connecticut-based private investment firm Gallatin Point Capital wit...

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]]> Insurtech Qoala raises US$47m in latest funding round co-led by PayPal Ventures https://insuranceasianews.com/insurtech-qoala-raises-us47m-in-funding-led-by-paypal-ventures/ Thu, 28 Mar 2024 10:20:07 +0000 https://insuranceasianews.com/?p=150349 PayPal Ventures co-led the latest funding round with MassMutual Ventures, bringing the Jakarta-based insurtech's total funding raised to US$130 million since its inception.

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PayPal Ventures has invested in Indonesian insurtech Qoala through co-leading a US$47 million series C funding round for the five-year-old startup, which offers personal insurance products to five mil...

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]]> Fairfax-backed Go Digit gets Indian market regulator’s approval for IPO: report https://insuranceasianews.com/fairfax-backed-go-digit-gets-indian-market-regulators-approval-for-ipo-report/ Mon, 04 Mar 2024 04:03:00 +0000 https://insuranceasianews.com/?p=147730 The digital insurer is targeting a May public offering, which will be a mix of US$150m in new shares and a secondary sale of 109m shares by founding shareholders.

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Fairfax-backed Indian digital insurer Go Digit has received approval from the market regulator Securities and Exchange Board of India (SEBI) for its INR1.25 billion (US$150 million) initial public off...

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]]> Taiwanese regulator set to finalise rules to ease insurers offshore bond issuance: report https://insuranceasianews.com/taiwanese-regulator-set-to-finalize-rules-to-ease-insurers-offshore-bond-issuance-report/ Sun, 03 Mar 2024 23:30:02 +0000 https://insuranceasianews.com/?p=147665 The amendments seek to allow Taiwanese carriers to issue regulatory bonds via SPVs, which will reduce related tax costs and help them cope with IFRS 17 implications.

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The Financial Supervisory Commission will be amending rules governing regulatory capital bond issuance for the insurance sector as it seeks to broaden the channel for Taiwan’s carriers to raise funds ...

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