Increased deal volume and sophistication in Saudi Arabia, the recent slowdown of dealmaking in the more traditional markets of the United States and United Kingdom, and the increase in in-bound foreign investment have collectively resulted in a clear uptick in the usage of warranty and indemnity insurance (W&I Insurance) in Saudi Arabian transactions, says the global law firm, Kirkland & Ellis.
Brussels-headquartered Ageas, Belgium's biggest insurer, has announced that it had reached an agreement with China Taiping Insurance Holdings (CTIH) to subscribe to the capital increase of the latter's wholly-controlled subsidiary Taiping Pension Co (TPP) for a total consideration of CNY1,075m ($151.3m).
Singapore's Income Insurance is exploring options as it looks to expand across the Asia Pacific region, including possibly tying up with a partner or selling a stake, reported Bloomberg quoting people familiar with the matter.
State-owned financial investment company, Dalian State-owned Financial Capital Operation Co (Dalian FCO) has become the largest shareholder of Aeon, ousting Chinese property giant Dalian Wanda Group from the topmost position.
The IRDAI has approved the acquisition of bankrupt Reliance Capital's life, general, and health insurance units by the conglomerate, the Hinduja Group, moving the group closer to finalising its deal for the insurers.
Oversea-Chinese Banking Corporation (OCBC), one of Singapore's biggest banks, has announced a S$1.4bn ($1.03bn) voluntary unconditional general offer for the 11.56% stake in Great Eastern Holdings that it does not currently own.
The Ardonagh Group, one of the world's largest independent insurance broking platforms, has entered into a Scheme Implementation Deed (SID) to acquire all of the issued ordinary shares in PSC Insurance Group.
The Nasco Insurance Group, an international group that specialises in direct and reinsurance broking, has acquired the retail insurance broking company, Crescent Global Insurance Services (Crescent).
Fusion Specialty has appointed to its M&A team in London Mr Alexander Mackay as partner and Mr Tom Hopkins as associate.
Arthur J Gallagher & Co has announced the acquisition of Melbourne-based Health Insurance Consultants Australia (HICA). The terms of the transaction were not disclosed.