Kyobo Life Insurance is pursuing the acquisition of AXA General Insurance as it looks to expand into the non-life insurance sector and strengthen its broader financial portfolio.
Jerusalem Insurance has announced the completion of its merger with Arabia Insurance-Jordan, following the fulfilment of all legal and regulatory requirements and the receipt of the necessary approvals from the relevant authorities.
AXA XL, which currently holds approximately 49% of S-RM, has announced that it has entered into an agreement to acquire the remaining shares of the company. S-RM is a specialist corporate intelligence and cyber security consultancy.
MNRB Holdings (MNRB) has entered into implementation agreements with Rakyat Nominees and Bank Kerjasama Rakyat Malaysia (Bank Rakyat) in relation to the proposed divestment of its wholly-owned subsidiaries, Takaful Ikhlas Family and Takaful Ikhlas General (collectively known as Takaful IKHLAS).
Miller, the London-headquartered independent specialist (re)insurance broker, has completed its acquisition of Shields Reinsurance Brokers (Shields), an independent reinsurance broker based in Dubai.
Global insurers are accelerating their expansion plans in India following the country's decision to allow up to 100% foreign ownership in insurance companies, with South Korea's Hanwha Group and South Africa's Discovery among the latest firms exploring opportunities.
Malaysia's Maybank has agreed to acquire Belgian insurer Ageas' remaining 30.95% stake in Maybank Ageas Holdings for RM4.83bn ($1.18bn), giving the bank full ownership of Etiqa's insurance and takaful businesses in Malaysia and Singapore.
Allianz Group (Allianz) and HSBC Holdings (HSBC Group) today announced that Allianz, through its wholly owned subsidiary Allianz Asia Holding, has agreed to acquire HSBC Life Singapore, subject to regulatory approval.
The Motor Trades Association of Australia (MTAA) has urged the Australian Competition and Consumer Commission (ACCC) to reject Insurance Australia Group's (IAG) proposed remedy package for its acquisition of RAC Insurance, arguing that the commitments fail to address the structural competition concerns identified by the regulator. MTAA said the deal should not proceed, warning that it would further accelerate consolidation across Australia's insurance and vehicle repair markets.
Japanese insurer Sompo International Holdings Ltd. announced on 21 July that a wholly owned subsidiary had entered into an agreement to acquire Fator Seguradora in Brazil. Completion of the transaction remains subject to approval from the relevant regulatory authorities.