The Competition Commission of India (CCI) on Tuesday said it has approved Bajaj Group’s plan to acquire Allianz SE’s 26% stake in its life and general insurance ventures for a total consideration of Rs...
InsuranceDekho set to merge with RenewBuy
In a move that signals further consolidation in the insurance distribution landscape, two distributors-InsuranceDekho and RenewBuy-have signed merger documents through a share swap that will value the merged entity at...
Aviva’s $4.9 billion Direct Line deal faces UK competition probe
Aviva’s bid to become Britain’s largest home and motor insurer via a 3.7 billion pound ($4.92 billion) takeover of smaller rival Direct Line suffered a potential snag on Wednesday, after Britain’s...
Bajaj Group seeks CCI’s nod to acquire Allianz’s 26% stake in insurance JVs
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...
