French global insurer AXA is considering the sale of its Singapore business as it seeks to raise funds divesting peripheral operations, reported Bloomberg News quoting people familiar with the matter.
Although some global insurance companies that entered the Saudi market have not yet realised their optimum investment objectives, these companies can turn challenges into opportunities by hopping on the consolidation wagon, according Mr Basil M K Al-Ghalayini is the chairman and CEO of the investment banking institution BMG Financial Group.
Dhipaya Insurance Public Company Limited (TIP) is restructuring shareholdings of the group to delist the currently listed company, establish a new holding company and list the new company. The goal is to increase competitiveness.
Lina Life Insurance, an affiliate of US headquartered Cigna, denied last Friday market reports that that it was up for sale.
Siraj Holding, a private investment firm chaired by Mr. Ahmed Khalaf Al Otaiba, has announced the acquisition of Al Hilal Takaful from Al Hilal Bank, a wholly-owned subsidiary of Abu Dhabi Commercial Bank.
Chinese financial regulators announced on 17 July that they had taken over, for one year, brokerages, trust companies and insurers linked to the embattled group Tomorrow Holdings, amid a campaign to stem systemic financial risks in a slowing economy, reported Reuters.
The Cabinet's decision last week to inject INR124.5bn ($2.3bn) into three state owned general insurers, is "credit positive" as their capital had been significantly depleted over the last few years, Moody's Investors Service has said.
The Indian government's plan to merge three of the four public sector undertakings (PSU) non-life insurers into one behemoth has been put off, as it now prioritises other areas of national importance.
MUA, the leading insurance company in Mauritius, has completed its purchase of Saham Assurance Company Kenya Saham Kenya, reaching an important milestone in its expansion strategy in East Africa.
The government has called off the long-deliberated merger of the three public sector non-life insurers - National Insurance, Oriental Insurance and United India Insurance - and has announced an additional capital infusion of INR99.5bn ($1.3bn) into the companies.