Munich Re is buying the 71% of Next Insurance that it doesn’t already own, strengthening its foothold in the United States and valuing the California-based company at $2.6 billion, a division of the German company...
Life after Bajaj: Allianz fast tracks plans of new alliance with Jio Financial
Allianz SE is stepping up efforts to forge an alliance with Mukesh Ambani-led Jio Financial Services (JFSL) for a second stab at the domestic life and general insurance market, said people in the know. This follows...
LIC to announce acquisition in health insurance firm by Mar 31: CEO Mohanty
State-owned Life Insurance Corporation of India (LIC) is in advanced stages of negotiation to buy a ‘substantial’ stake in a standalone health insurer to broaden its footprint in that segment, the insurer informed the...
Swiss insurers Baloise, Helvetia explore merger, Bloomberg News reports
Switzerand’s Baloise and Helvetia Holding AG have been exploring a potential merger to create one of the country’s largest insurers, Bloomberg News reported on Tuesday, citing people familiar with the matter...
Allianz to sell 26% stakes in India joint ventures for $2.8 billion
The German insurer Allianz said on Monday that it was selling its 26% stake in two joint ventures with India’s Bajaj Finserv to the Bajaj Group for around 2.6 billion euros ($2.84 billion). Last year, Bajaj...
Patanjali Ayurveda forays into insurance sector, acquires majority stake in Magma General Insurance
Yoga Guru Ramdev-led Patanjali Ayurved and Rajnigandha maker Dharampal Satyapal Group (DS Group) will acquire Magma General Insurance from Sanoti Properties LLP at a valuation of Rs 4,500 crore, a company statement said...
Piraeus bank agrees to buy 90% of Ethniki Insurance from CVC
Piraeus Financial Holdings said on Wednesday it has clinched a deal to buy 90% of Greek insurer Ethniki Insurance from CVC Capital Partners for 600 million euros. Piraeus, one of Greece’s four largest banks said...
Ageas and Allianz explore bids for British insurance group esure, sources say
Belgian insurer Ageas has retained advisors to explore a bid for British motor and home insurer esure, four people familiar with the matter told Reuters, as part of plans to consolidate the UK personal lines market...
FDIC moves to roll back merger policy that scrutinized larger deals
The Federal Deposit Insurance Corporation’s board of directors approved a proposal Monday to roll back a Biden-era policy that ramped up the scrutiny of large bank mergers, the agency said in a statement on Monday...
Caltagirone has raised his stake in Generali to 8%, MF daily says
Italian businessman Francesco Gaetano Caltagirone has recently raised his stake in insurer Generali to 8%, MF newspaper reported on Tuesday, citing financial sources. A spokesperson for Caltagirone had no immediate...
Why Piramal wants to exit its decade-plus insurance ventures with Shriram
Piramal Enterprises Ltd is planning to sell its holdings in Shriram Group’s insurance ventures for ₹4,000-5,000 crore, two people aware of the matter said, as it looks to sharpen focus on its core lending business...
360 ONE Asset to acquire 15% stake in Bharti AXA Life Insurance
360 ONE Asset today is set to acquire a 15% stake in Bharti AXA Life Insurance as part of a strategic investment and this is expected to unlock new avenues for innovation and expand Bharti AXA’s footprint in India’s...
