Allianz Group, one of the world's leading insurers and asset managers, has entered into a binding transaction to sell its 51% stake in Allianz Saudi Fransi (AzSF) in Saudi Arabia to Abu Dhabi National Insurance Company (ADNIC).
Chinese state-backed supply chain service company Wuchan Zhongda Group announced yesterday that it would invest up to CNY6.07bn ($830m) in Hangzhou-headquartered Sinatay Life Insurance.
The Société Nouvelle d'Assurances de Guinée (SONAG) has started discussions with BIAT Consulting, a subsidiary of the BIAT group (Banque Internationale Arabe de Tunisie), the largest private sector bank in Tunisia, about forming a strategic partnership in the field of insurance and banking.
Listed China Coal Energy Group is seeking to exit its investments in China Coal Insurance.
Aviva plc has agreed to sell its 25.9% stake in Singapore Life Holdings, together with two debt instruments, to Sumitomo Life Insurance Company for a total consideration of GBP0.8bn ($0.999bn) payable in cash at closing. Sumitomo Life will pay a consideration of GBP0.5bn for Aviva's equity stake and GBP0.3bn for the two debt instruments.
Steadfast Risk Group, the risk management division of Australasia's largest general insurance broker network, Steadfast Group, has acquired Riskcom and its subsidiary BRM Risk Management (BRM).
Chedid Europe Insurance & Reinsurance Brokerage, a subsidiary of Lebanon-headquartered Chedid Capital, has announced the acquisition of 100% of the share capital of UK-based Trilogy Managing General Agents (Trilogy MG) from Resolution Underwriting Holdings, keeping pace with its strategy to grow its business in the United Kingdom while expanding its operations around the globe.
Insurance premiums will keep rising without measures to reduce the risk of damage from floods and bushfires, according to the Insurance Council of Australia (ICA) in its latest annual catastrophe report.
Sanlam, Africa's largest non-banking financial services provider, and Allianz, one of the world's leading insurers and financial services providers, have received regulatory approvals for the joint venture that will create the leading Pan-African non-banking financial services company with a presence in 27 countries in Africa. The joint venture will operate as SanlamAllianz.
London-headquartered specialist insurance broker Howden has announced that it has successfully completed the acquisition of Apex Insurance New Zealand and its associated subsidiaries (Apex), effective 31 August 2023.