Aljazira Takaful Taawuni and Solidarity Saudi Takaful have received the approval of the Saudi Central Bank (SAMA) for their merger. The approval was granted on 30 November 2020.
Financial services group Westpac yesterday announced it will sell Westpac General Insurance and Westpac General Insurance Services to German global insurer Allianz and enter into an exclusive 20-year agreement for the distribution of general insurance products to Westpac's customers.
French global insurer AXA announced yesterday that it has entered into an agreement with Gulf Insurance Group (gig) to sell its insurance operations in the Gulf region, which includes its shareholding in AXA Gulf, AXA Cooperative Insurance Company and AXA Green Crescent Insurance Company.
The IRDAI has given in-principle approval for the merger of Bharti AXA General with ICICI Lombard.
Paris-based CNP Assurances will give up its stake in financially beleaguered Sino-French Life Insurance, a joint venture insurer which it had originally co-founded with China Post.
Saudi Enaya Cooperative Insurance has signed a non-binding memorandum of understanding (MoU) with Amana Cooperative Insurance to evaluate a potential merger between the two companies.
HDFC ERGO General Insurance (HDFC ERGO), India's third largest general insurance company in the private sector, has announced the completion of its merger with HDFC ERGO Health Insurance (formerly known as Apollo Munich Health Insurance).
Encouraging news about COVID-19 vaccination trials and the impending resolution of the long election process bode well for deal activity in 2021, according to M&A and insurance recovery lawyers from Lowenstein Sandler (Lowenstein).
Ping An Insurance Group Co and Sunshine Insurance Group Corp are among companies vying for Tahoe Investment Group Co's life insurance unit, reported Bloomberg quoting people with knowledge of the matter.
London headquartered private equity firm Cinven has agreed to buy Miller, the specialist insurance broker owned by Willis Towers Watson, in its first deal from a new fund dedicated to financial services investments, reported Bloomberg.