UK insurance giant Aviva has agreed to sell its entire 40% shareholding in its pension and life insurance joint venture in Turkey, AvivaSA Emeklilik ve Hayat AS (Aviva SA), to Ageas Insurance International.
The acquisition of AXA-Gulf by Gulf Insurance Group (gig) will strengthen the position of the Group at the regional level and boost its top line and profitability, says group CEO and board member Khaled Saoud Al Hassan.
The Middle East and Africa saw 166.7% increase in the number of M&A insurance deals in 2020, the biggest growth across all regions worldwide, according to "Insurance Growth Report 2021 - Finding opportunity in adversity", the latest edition of global law firm Clyde & Co's insurance growth report, released last week.
Sino-French Life Insurance is expected to continue to be under pressure in the first quarter of this year even though its liquidity crisis has been resolved with the injection of CNY2.8bn of fresh funds by new shareholders.
The Australian Competition and Consumer Commission (ACCC) has outlined some concerns over Aon's $30bn bid for Willis Towers Watson (WTW) to create the world's largest insurance broker.
The central government is reportedly planning to privatise Chennai-based United India Insurance and is deliberating whether state-owned reinsurer General Insurance Corp of India (GIC Re) should also be divested.
Saudi Arabia's insurance industry closed the financial year 2020 on a high note, as a result of the cumulation of government support and persistent efforts of the Saudi Central Bank that enhanced the sector's operational resilience, KPMG in Saudi Arabia, a leading provider of audit, tax and advisory services in the Kingdom, said in their latest Insurance Pulse Saudi Arabia report.
Norway's $1.3tn sovereign wealth fund has acquired shares of QLM Life & Medical Insurance Co, the first Qatari firm to list on the local stock market since 2019, reported Bloomberg.
Allianz (China) Insurance Holding (AZCH) and CITIC Trust have signed an equity transfer agreement for AZCH to acquire 49% of the shares of Allianz China Life Insurance (AZCL) from CITIC Trust.
Singapore-based InsurTech group CXA is set to sell its brokerage business in the city-state and in Hong Kong to global employee benefits broker Pacific Prime.