HDFC Life, India’s largest private sector insurer, has acquired Exide Life in a stock and cash deal worth Rs 6,687 crore. The 100% acquisition of Exide Life will be through issuance of 8,70,22,222 shares at an...
HSBC snaps up Axa Singapore assets for $575 mln in Asia expansion
HSBC Holdings has agreed to acquire French insurer Axa’s Singapore assets for $575 million, part of its strategy of scaling up its wealth-management business in Asia to boost fee income. HSBC said in a statement...
HSBC to acquire Axa’s Singapore insurance assets for $575 mln
HSBC said on Monday it had agreed to acquire Axa’s insurance assets in Singapore for $575 million as it scales up its insurance and wealth business. “This is an important acquisition that demonstrates our...
Bill for privatisation of state-run general insurance companies gets Parliament nod
A bill to allow privatisation of state-run general insurance companies got parliamentary assent on Wednesday after Rajya Sabha passed it with a voice vote amid tearing of papers and vociferous protest by opposition...
Burmans to sell 25% stake in Aviva Life
The billionaire Burman family is set to pare its stake and give up control of a life insurance joint venture with UK’s Aviva Plc as part of its strategy to raise capital for the core consumer goods business, two people...
Brookfield reinsurance unit to buy American National for $5.1 billion
Brookfield Asset Management Inc’s reinsurance unit has agreed to buy insurer American National Group Inc for about $5.1 billion in an all-cash deal, the companies said on Monday. Started in 1905 by William Lewis Moody...
Daily Mail publisher to sell insurance unit to Moody’s for $2 billion
The publisher of Britain’s Daily Mail said on Thursday it had agreed to sell its insurance risk business RMS to Moody’s Corporation for about 1.425 billion pounds ($1.99 billion) in cash. Chief Executive Officer Paul...
Carlyle arm plans to sell all of its 1.9% SBI Life stake
US private equity fund CA Emerald Investments, an affiliate of Carlyle Asia Partners, is looking to sell its entire 1.9 per cent stake in worth Rs 2,160 crore through the stock exchange platform on Thursday, according...
Govt to sell stake in LIC in two stages to avoid market disruption
The government may not initially sell a 10% stake in Life Insurance Corp. of India (LIC) through an initial public offering (IPO), choosing instead to sell 5-6%, followed by a similar second public offering, given the...
Phoenix to divest Dublin-based Ark Life to streamline European operations
British insurer Phoenix Group said on Tuesday it would sell its Dublin-based Ark Life Assurance to Irish Life Group for 230 million euros ($272.73 million), as it seeks to streamline its European operations. Ark Life...
CCEA clears LIC disinvestment; panel headed by FM to decide quantum of stake sale
The Union Cabinet has cleared disinvestment of the country’s largest insurer LIC and a panel headed by the finance minister will now decide on the quantum of stake dilution, a senior official said on Monday. The...
Westpac to sell New Zealand life insurance arm for $281 million
Westpac Banking Corp will sell its New Zealand life insurance business to Fidelity Life for NZ$400 million ($280.84 million), the company said on Tuesday. The unit is the latest asset to be offloaded by Australia’s...
