Piramal Group and Zurich Insurance plan to form a joint venture for taking over Reliance General Insurance, a subsidiary of debt-ridden Reliance Capital undergoing a resolution process. Both Piramal and Zurich, which...
Insurance industry will continue to see M&A deals, new entrants
Merger and acquisitions will continue to be a part and parcel of the insurance sector, which is a highly capital intensive sector and can accommodate new entrants with specialised skill sets having long-term vision. The...
NCLT approves merger of Exide Life with HDFC Life, holds 4.1% stake HDFC
The National Company Law Tribunal (NCLT) on Friday approved the merger of Exide Life Insurance with HDFC Life Insurance. The Scheme of Amalgamation was approved by the Mumbai bench of NCLT, HDFC Life Insurance said in a...
Abrdn to sell stake in India’s HDFC Life for at least $305 million via block trade
British asset manager abrdn plc will sell a stake of about 2% in Indian insurer HDFC Life Insurance Company through a block trade on Tuesday, according to a document seen by Reuters. The offer is priced at 564.1-578.55...
ADIA to invest Rs 665 cr in Aditya Birla Health Insurance for 9.99% stake
The boards of Aditya Birla Capital and Aditya Birla Health Insurance have approved a proposal of capital infusion to the tune of Rs 665 crore in the later from a subsidiary of Abu Dhabi Investment Authority (ADIA), the...
Bank of Baroda to divest up to 12.5% stake in insurance arm IndiaFirst
Bank of Baroda will divest up to a 12.5% stake in the insurance arm IndiaFirst Life Insurance Company through an offer for sale in the initial public offer (IPO) of the insurer or any other mode. The Bank’s board...
ADIA eyes stake in Aditya Birla’s health insurance business
Abu Dhabi Investment Authority (ADIA) is in talks with Aditya Birla Group to invest around Rs 1,200-1,500 crore in the Indian conglomerate’s health insurance arm as growth equity, people in the know said. Aditya Birla...
Exor completes PartnerRe sale, bolsters coffers for acquisitions
Exor said it had completed the sale of reinsurer PartnerRe to France’s Covea, providing a multibillion-euro war chest for acquisitions for the holding company of Italy’s Agnelli family. Exor said in a...
Tatas exit race to buy Reliance Capital’s general insurance arm
Tata AIG General Insurance Company, a subsidiary of Tata Sons, has exited the race to buy the general insurance arm of Reliance Capital, Reliance General Insurance Company (RGICL), following the delayed sale and in...
Britain’s Howden buys U.S. reinsurance broker TigerRisk for $1.6 bln
British insurance firm Howden has bought U.S. reinsurance broker TigerRisk Partners to create a firm with an enterprise value of over $13 billion, it said. The purchase price was $1.6 billion, Howden chief executive...
Ideal Insurance Brokers takes M&A route to expand geographical presence
Ideal Insurance Brokers is taking the acquisition route to grow and expand its geographical presence. The Kolkata-based firm has just completed the purchase of Govind Consultancy and Narnolia Insurance Brokers to boost...
IDBI Bank to sell 25% stake in Ageas Federal Life Insurance for Rs 580 cr
IDBI Bank has entered into a share purchase agreement with Ageas Insurance International, wherein the bank is looking to sell its remaining stake of 25 per cent in private sector life insurer Ageas Federal Life...
