Howden, the international insurance broker, has increased its shareholding to 100% in AlphaXO Risk Partners (AlphaXO), a specialty insurance broker headquartered in Sydney.
The Hinduja group, Oaktree, Torrent, and Piramal group with Cosmea Financial and UV ARC submitted their final bids for Reliance Capital (RCap). The deadline for final offers for the assets of the bankrupt group closed on 28 November 2022.
Singapore-based The Huntington Group (Huntington) has decided to acquire Futuready Thailand from Aegon. Following the transaction, Huntington and its affiliates will be Futuready Thailand's largest institutional shareholder.
Manulife IM had been granted approval to acquire 51% of shares in Manulife TEDA Fund Management, a joint venture with assets under management (AUM) of $12bn as of 30 June 2022. This makes it the first foreign wealth and asset manager to convert its joint venture into a wholly owned public fund management company in China.
More consolidation and M&A activity is expected in the regional insurance industry as regulators continue to tighten their supervision regime particularly around capitalisation and solvency requirements, says international professional services firm PwC Middle East.
Sukoon, one of the UAE biggest insurance companies, has finalised the acquisition of the UAE life insurance portfolio of Assicurazioni Generali.
Tokio Marine Holdings has increased its shareholding in Asuransi Tokio Marine Indonesia (TMI) from 60% to 80% through its wholly owned subsidiary, Tokio Marine Asia.
Marsh, the world's leading insurance broker and risk advisor, has announced that it intends to exercise its option to acquire the majority of shares in Beassur Marsh, a leading insurance broker in Morocco.
China's Fosun International has appointed Deutsche Bank to advise on a potential sale of its stake in Hong Kong-based reinsurance company Peak Re, reported Reuters quoting four people with knowledge of the matter.
National Life & General Insurance Company (NLGIC), the biggest insurer in Oman, has announced that it will purchase 47.5% of Al Ahlia Insurance Company's shares.