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.
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.
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.
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.
Global asset manager Blackstone is set to enter India's general insurance market through a proposed new venture with former HDFC ERGO Managing Director and Chief Executive Anuj Tyagi.
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.
DUAL Group, an MGA, has launched its global transactional risk offering with long-term backing led by Liberty.
InsurTech Duck Creek Technologies has acquired Send Technology Solutions, an AI-native underwriting orchestration engine serving commercial, specialty and complex risk markets.
Saudi Reinsurance Company has obtained the Insurance Authority's approval to complete its acquisition of a strategic 22.5% stake in British company AdA Risk Holding, which owns the operating rights for Syndicate 2024 in the Lloyds insurance market.