Bajaj Group has sought the Competition Commission of India’s (CCI) approval to acquire a 26 per cent stake each in its insurance joint ventures Bajaj Allianz General Insurance and Bajaj Allianz Life Insurance from...
Bajaj Group seeks CCI approval for Rs 24,180-cr Allianz stake buy
Bajaj Group entities have sought the Competition Commission of India’s approval for plans to buy out Allianz SE’s 26% stake in life and general insurance ventures for ₹24,180 crore, the largest deal in the...
LIC hikes its stake in Bank of Baroda to 7.05%
Insurance behemoth LIC on Monday said it has increased its stake in state-owned Bank of Baroda (BoB) by nearly 2 per cent to 7.05 per cent. The life insurance company has acquired additional 10.45 crore shares from open...
Helvetia, Baloise to merge into Switzerland’s second-biggest insurance group
Helvetia and Baloise plan to merge into what would be Switzerland’s second-largest insurance group with a combined market share of about 20%, the firms said on Tuesday. The merger is expected to generate run-rate...
CCI clears Patanjali, 5 other entities’ proposal to acquire 98 pc stake in Magma Gen Insurance
The Competition Commission of India (CCI) has cleared a proposal of Patanjali Ayurved and five other entities to acquire a majority stake in Magma General Insurance. “The proposed combination is being notified...
Ageas to buy UK insurance platform esure for $1.7 billion
Ageas has agreed to buy British car and home insurer esure from Bain Capital for 1.3 billion pounds ($1.7 billion) in a move that will create the third largest personal lines platform in the UK. The deal, set to be...
LIC set to buy 40-49% stake in ManipalCigna; primary and secondary deal values company at Rs 3,500 crore
Life Insurance Corp of India (LIC) is finalising terms to buy a significant minority stake in Ranjan Pai-led ManipalCigna Health Insurance, people familiar with the matter said. It marks the state-owned giant’s entry...
Germany’s Munich Re to buy $2.6 billion Next Insurance
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...
