Looking ahead to 2024, two themes that are sure to help define the year for insurers in Hong Kong and Singapore are mergers & acquisitions and regulatory developments, according to Clearwater Analytics, a leading provider of SaaS-based investment management, accounting, reporting, and analytics solutions.
The Aviation Industry Corporation of China (AVIC), a Chinese state-owned aerospace and defence conglomerate headquartered in Beijing, has found a buyer for its 50% stake in a non-life insurance joint venture, Groupama AVIC Property Insurance Co.
Huntington Investments (Huntington) has announced that it is investing in Seleris Asia Pacific Technology (Seleris), an innovative life/ health insurance underwriting platform based in Singapore.
The Competition Commission of India (CCI) has approved the acquisition of an additional stake in Niva Bupa Health Insurance Company by Bupa Singapore Holdings.
MAA Group is proposing to sell an 85% stake in its Philippine general insurance business -- MAA General Assurance Philippines (MAAGAP) -- for $49.3m in cash, with an option to sell the remaining 15% stake for $8.7m within a 14-month period.
United Cooperative Insurance (UCI) is scheduling an extraordinary general assembly meeting for shareholders on 5 December 2023 to vote on a capital increase and a proposed merger with Saudi Enaya Cooperative Insurance, according to a statement filed by the company with Tadawul Saudi Arabia.
Olea Insurance Solutions, the pan-African insurance broker, has acquired a significant stake in Ballpack Insurance Group Uganda, expanding its footprint across the continent to its 25th market in Africa, the French company has said in a statement.
State-owned China National Petroleum Corporation (CNPC), the country's largest oil and gas supplier, plans to sell all of its shares in Generali China Insurance, a P&C insurance joint venture with Italy's Assicurazioni Generali.
announced that Sumitomo Life Insurance Company (Sumitomo Life) has increased its investment in the company by way of a capital injection amounting to S$179,999,996 ($132.6m).
Ping An Insurance has denied a news report that it was asked by authorities to take over Country Garden Holdings, the biggest mainland Chinese private property developer, and its debts.