The Baldwin Group said on Tuesday it will buy rival insurance broker CAC Group in a $1.03 billion cash-and-stock deal, adding to a string of mergers in recent years as industry consolidation accelerates. U.S. insurance...
NatWest in exclusive talks to sell Cushon to Willis Towers Watson, sources said
NatWest Group is in exclusive talks to sell its 85% stake in workplace pension provider Cushon to U.S. insurance broker Willis Towers Watson just two years after the British bank acquired the business, two people with...
FinMin renews merger proposal of state-owned general insurance companies
The Finance Ministry is considering an earlier proposal to merge the three state-owned general insurance companies into a single entity, following their improved financial health, to achieve better efficiency and scale...
A seven-year-old merger plan for insurance weaklings is being dusted off the shelves
The Centre is weighing a massive restructuring of National Insurance Co., Oriental Insurance Co., and United India Insurance Co., potentially involving a merger, privatization or both. The Union finance ministry is...
Vienna Insurance Group offers to buy Germany’s Nuernberger for $1.61 billion
Vienna Insurance Group (VIG) said late on Thursday that it will acquire all shares of German insurer Nuernberger Beteiligungs AG for 1.38 billion euros ($1.61 billion) in cash. VIG will offer Nuernberger shareholders...
White Mountains to sell insurance agency Bamboo to CVC in $1.75 billion deal
White Mountains Insurance said on Friday it would sell a controlling interest in insurance distribution platform Bamboo to European private equity firm CVC in a deal that values the company at $1.75 billion. Shares of...
Tiptree to sell Fortegra to South Korean insurer DB Insurance for $1.65 billion
U.S. investment manager Tiptree said on Thursday that South Korea’s DB Insurance would acquire its specialty insurance unit, The Fortegra Group, for about $1.65 billion in cash. The sale would also mark an exit...
Insurer IAG’s proposed $877 million buy of RAC insurance draws ACCC scrutiny
Australia’s competition watchdog said on Thursday that Insurance Australia Group’s proposed A$1.35 billion ($877.23 million) acquisition of The Royal Automobile Club of Western Australia’s insurance...
Cigna’s unit to invest $3.5 billion in specialty pharmacy firm Shields
U.S. health insurer Cigna Group unit Evernorth Health will invest $3.5 billion in Shields Health, the company said on Tuesday, bolstering its presence in the fast-growing specialty pharmacy business. The investment...
Japan’s Sompo to acquire Aspen Insurance for $3.5 billion in westward push
Sompo Holdings said on Wednesday that it would acquire New York-listed Aspen Insurance Holdings for about $3.5 billion, joining a number of Japanese financial firms that are investing in overseas assets to drive growth...
Govt to begin LIC stake sale roadshows, may sell 3% stake in first tranche
The government is expected to start roadshows within the next two weeks to prepare for selling a part of its stake in Life Insurance Corporation of India (LIC), CNBC-TV18 reported. The first round of divestment could...
Bajaj Allianz Life Insurance buys 2.1% stake in JM Financial Home Loans
Bajaj Allianz Life Insurance has acquired about 2.1% of JM Financial Home Loans from JM Financial Credit Solutions, a unit of JM Financial, for ₹65.5 crore. The insurer bought 13.65 million shares at ₹48 apiece...
