Allianz SE has entered into binding share purchase agreements with Bajaj Finserv to sell its 26% stake in its Indian non-life and life insurance joint ventures - Bajaj Allianz General Insurance Company and Bajaj Allianz Life Insurance Company - to the Bajaj Group for a total consideration of EUR2.6bn. Allianz may receive the proceeds in several tranches.
On March 10, Jiang Tai Insurance Brokers' 11.008m shares, representing 5.1217% of total equity, were listed for transfer at CNY43.36m ($5.98m). The seller, China Three Gorges Corporation (CTG), had previously attempted to offload the stake.
Global carrier M&A dealings slumped to a 16-year low in 2024 as insurers put the brakes on dealmaking amidst uncertainty and volatility, according to a new report by Clyde & Co.
Marsh Specialty has appointed Mr Andrew George as president. He will also join the Marsh Executive Committee.
Ping An Insurance (Group) Company of China has entered a flood maps licensing agreement with UK-based flood scientists JBA Risk Management to support its underwriting and risk management capabilities. The move by the technology-powered financial services group reflects the increasing importance of flood risk assessment in China, amid a rise in both the frequency and severity of flood events.
To lead its newly established M&A and Strategic Solutions team, Miller has appointed Mr Andrew Johnson, Ms Edwina Charlton and Mr Rupert Newman as head of broking.
Aon successfully completed the transaction to acquire the in-house insurance agency business of Mitsubishi Chemical Group (MCG) on 1 March 2025. The move was designed to enhance Aon's risk capital and human capital capabilities in Japan.
Chubb has announced agreements to acquire the insurance businesses of Liberty Mutual in Thailand and Vietnam.
Generali Sigorta, Türkiye's oldest insurance company acquired by a consortium that included Kiler Holding, has been rebranded as Referans Sigorta (Reference Insurance).
Saudi Enaya Cooperative Insurance Company and Salama Cooperative Insurance Company have issued separate statements announcing the signing of a non-binding Memorandum of Understanding (MoU) on 25 February 2025 to evaluate a potential merger between the two companies.