The Council of Cooperative Health Insurance (CHIC) in Saudi Arabia yesterday announced that small and medium-sized health insurance companies when merged would be exempted from paying qualification and supervision fees for a maximum period of three years, according to specific conditions and requirements.
India's central bank, Reserve Bank of India (RBI), wants banks to cap their stakes in capital intensive insurance companies at 20%, reported Reuters quoting three sources with knowledge of the matter.
Anticipated new and tougher regulations in Kuwait could lead to some capital raising and consolidation in 2021, says S&P Global Ratings.
The board of directors of Ascoma Assureurs Conseils (ASCOMA), insurance advisory and brokerage company has announced the appointment of Mr Farid Chedid as the company's new chairman and Group CEO.
Singapore's sovereign wealth fund GIC and the international private equity firm Cinven have completed the acquisition of global specialist insurance and (re)insurance broker, Miller, from Willis Towers Watson, according to a statement issued yesterday.
The IRDAI has given its formal approval for the acquisition of a stake of up to 12% in Max Life Insurance by Axis Bank and its subsidiaries, Axis Capital and Axis Securities (dubbed Axis entities together), Max Financial Services announced in a stock exchange statement.
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.