Nasdaq-listed Fanhua, a leading independent financial services provider in China, has signed a definitive agreement with the existing shareholders of Jilin Zhongji Shi'An Insurance Agency to acquire 51% of the equity interests of Zhongji.
Natural disasters caused economic losses of over $772m in the Middle East in 2022, according to the report "2023 Weather, Climate and Catastrophe Insight" published last week by global insurance and reinsurance broker Aon.
London-headquartered BMS, the independent global specialist insurance and reinsurance broker, has announced the acquisition of Austbrokers Coast to Coast (C2C), the specialist Australian corporate, business, and retail broker, effective 17 January. The terms of the transaction have not been disclosed.
The Financial Services Authority (OJK) has issued a new regulation governing insurance intermediaries.
Gallagher yesterday announced it is launching energy and power risk services for clients in the Middle East.
UAE-based reinsurance broker Risk Exchange has entered into a strategic partnership with US global reinsurance broker Clements Worldwide to support Risk Exchange's growing markets in the Middle East, Africa, and the Indian subcontinent.
Chinese electric vehicle maker NIO has acquired an insurance brokerage. This followed the establishment of its wholly-owned broking subsidiary, NIO Insurance Brokerage, at the beginning of this year.
Islamic Arab Insurance Company (Salama), the UAE's largest takaful company, and APRIL Group, France's leading wholesale broker, yesterday announced a new partnership to offer innovative international health insurance solutions to UAE consumers.
Royale Marocaine d'Assurance (RMA), a Moroccan insurance and reinsurance company. has received the green light from the Competition Council to acquire 19.9% of the capital of the company Ténor Finances, which is the majority shareholder of the local broker Afma.
The Central Bank of the UAE has called on insurance agents, insurance brokers, and health insurance management companies to maintain suspense accounts for each insurance company.