Piramal Finance is selling its entire 14.72% stake in Shriram Life Insurance Company to Sanlam Emerging Markets (Mauritius) for ₹600 crore, valuing the insurer at around ₹4,000 crore. The move is part of Piramal’s...
Ackman-backed Howard Hughes to buy insurer Vantage for $2.1 billion
Bill Ackman-backed Howard Hughes Holdings said on Thursday it will buy specialty insurance firm Vantage Group Holdings for about $2.1 billion, as the real estate firm diversifies beyond property development. Howard...
Generali and France’s BPCE scrap plans to merge asset management units
Italy’s biggest insurer Generali and French bank BPCE said on Thursday they had dropped plans to merge their asset management businesses, in the absence of conditions necessary to make the deal viable. Generali in...
WTW to buy brokerage firm Newfront in up to $1.3 billion deal
Insurance broker WTW said on Wednesday it will acquire Newfront in a deal worth up to $1.3 billion, aiming to expand its reach in the U.S. middle-market through the brokerage. The deal will be through a $1.05 billion...
Baldwin strikes $1 billion deal for rival insurance broker CAC Group
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...
