Zhejiang Geely Holding Group, a Chinese multinational automotive company headquartered in Hangzhou, has agreed to buy a 33.33% stake in Union P&C Insurance from Union Life Insurance, according to an announcement by the non-life insurer.
China has in principle given the green light to Switzerland's Chubb to merge its Chinese property insurance business with China's Huatai Property & Casualty Insurance.
Chinese investment management company, CITIC Trust, intends to sell its 49% equity in Allianz China Life Insurance.
The CBIRC has approved the restructuring of Sino-French Life Insurance capital and a new line-up of shareholders.
One of Australia's largest banks, NAB, yesterday announced it has entered into an agreement to sell BNZ Life, its New Zealand life insurance business, to leading New Zealand life insurance provider Partners Life for NZ$290m ($205m).
Asia Pacific saw an increase in the number of mergers and acquisitions involving re/insurance businesses in the first half of 2020, with 38 deals completed compared to 31 in the previous six months, despite the COVID-19 pandemic, notes global law firm Clyde & Co.
Aon, a leading global professional services firm providing a broad range of risk, retirement and health solutions, yesterday announced its re-entry into the insurance broking market in India.
Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) and Manulife (Vietnam) have signed an agreement to establish an exclusive 16-year bancassurance partnership to better meet the growing financial and insurance needs of the Vietnamese people.
Commonwealth Bank of Australia (CBA), a leading bank Down Under, has announced that the CBIRC has granted approval for the divestment of CBA's 37.5% equity interest in a life joint venture in China.
The merger between Gulf Union Cooperative Insurance (Gulf Union) and Al-Ahlia Cooperative Insurance (Al-Ahlia) has entered into force, according to statements issued by both companies to the Saudi stock exchange Tadawul on 6 December.