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May 2020

Singapore: Reinsurer ACR up for sale

Source: Asia Insurance Review | Jun 2016

ACR Capital Holdings, the owner of Singapore’s biggest reinsurance firm, is reportedly attracting bidders in a deal valued at around US$1 billion, reported Reuters citing people with knowledge of the matter.
   ACR confirmed that its owners are examining the interest of a number of strategic buyers. “We are however not at liberty to discuss the identities of these potential investors,” the company said in a statement.
   China’s Fosun International was reported to be among the suitors bidding for the company. The suitors are preparing to submit second round bids for the holding company of Asia Capital Reinsurance Group which has operations in the Middle East, China and Japan, the people said. The names of other bidders could not be immediately ascertained, said Reuters.
ACR’s owners include London-based private equity firm 3i, Malaysian state investor Khazanah Nasional, Singapore state investor Temasek Holdings and Japanese trading house Marubeni Corp.
   ACR was set up in 2006 with capital of around $620 million and is ranked among the world’s top 50 reinsurers.
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