Reliance Capital is said to have cancelled a sale of its general insurance unit, Reliance General Insurance, to consumer banking firm Hero Fincorp.
AXA SA and Affin Bank Bhd are reported to be considering options including a potential sale of their life and general insurance business in Malaysia, disclosed a Bloomberg report citing anonymous sources familiar with the matter.
A merger of Saudi insurance companies should preferably involve more than two insurers, Mr Adel Al-Issa, spokesman for insurance companies, has said.
IDBI Bank, rescued by the government and state-owned LIC, has announced plans to sell its stake in its insurance joint venture IDBI Federal Life Insurance.
HDI Sigorta, a subsidiary of German insurance giant Talanx, has received approval from the General Directorate of Insurance of the Finance and Treasury Ministry to purchase non-life insurer Ergo Sigorta.
The Ministry of State-Owned Enterprises (BUMN) has officially appointed Bahana Indonesian Business Development (BPUI) as the holding company of state owned insurers.
Shenzhen listed Hubei Biocause Pharmaceutical has announced that it plans to merge with Guohua Life with the merged entity to adopt the insurer's name.
Hong Kong listed Chinese real estate developer Greentown China Holdings has announced that its bid to buy a stake in a domestic insurer has failed to win regulatory approval.
Huaxia Life Insurance is reported to have signed an equity transfer agreement with CP Group (Charoen Pokphand Group), which will acquire about 30% of its shares.
EY has advised state-run National Insurance, United India Insurance and Oriental Insurance to merge within 18 months, reported Indian publication Business Standard.