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.
Paytm, an e-commerce payment system and FinTech company, has announced that it is set to acquire Mumbai based private sector general insurer Raheja QBE, a move which would be its entry into the Indian general insurance market.
The government has announced its decision to merge the Insurance Authority with the Securities and Commodities Authority, to form a single financial services regulator.
Kenya based ICEA LION Insurance has announced a partnership deal with LeapFrog Strategic Africa Investments.
The insurance market is expecting a wave of mergers and acquisitions in the insurance broking sector, following the suspension of new broking licences for a year.
Hong Kong-based Standard Life Asia yesterday announced that it is starting a new chapter following the completion of its sale to Tianjin-headquartered Heng An Standard Life Insurance (HASL).
FWD Management Holdings, the Hong Kong registered business of FWD Group, has completed the acquisition of MetLife Limited and Metropolitan Life Insurance Company of Hong Kong (collectively called "MetLife Hong Kong") from MetLife, Inc.
FWD Management Holdings Limited, the Hong Kong-registered business of FWD Group, has completed the acquisition of MetLife Limited and Metropolitan Life Insurance Company of Hong Kong Limited from MetLife, Inc.