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...
Generali expands presence in Malaysia via Axa deal
Italy’s top insurer Generali has agreed to buy Axa’s insurance assets in Malaysia and take full ownership of a joint-venture it runs in the country to strengthen its local presence. The deals will turn Generali into the...
CCI clears proposed deal to acquire stake in Magma HDI General Insurance by 2 entities
The Competition Commission of India (CCI) on Thursday said it has approved the proposed acquisition of a stake in Magma HDI General Insurance Company by two entities. Under the transaction, India Advantage Fund S4 I...
UK’s Apis Partners and others invest $45 million in RenewBuy
Apis Partners LLP of the UK, Lok Capital and IIFL Asset Management have together invested $45 million (about Rs 330 crore) in RenewBuy, marking the biggest capital commitment to the digital insurance marketplace to help...
HDFC to sell 0.62% stake in HDFC ERGO for Rs 236 cr
The housing finance major has entered into a share purchase agreement for sale of 44,12,000 equity shares, representing 0.62% of the issued and paid-up share capital of HDFC ERGO. The stake sale is being done in...
Humana to buy rest of Kindred at Home for $5.7 billion to expand patient care
U.S. health insurer Humana Inc said on Tuesday it will acquire the 60% stake that it did not own in home health and hospice provider Kindred at Home from TPG Capital for $5.7 billion to expand its patient care business...
Greece’s NBG agrees to sell insurance subsidiary to CVC Capital: sources
National Bank (NBG), one of Greece’s four largest lenders, has agreed to sell its insurance unit to private equity group CVC Capital, two banking sources close to the process said on Friday. “There is agreement to sell...
BNP Paribas Cardif offloads 5% in SBI Life via open market sale
BNP Paribas Cardif, the French insurer, has sold a 5 per cent stake, or a little over 50 million shares, in private sector life insurer SBI Life for Rs 4,556.7 crore at Rs 911 a share in an open market sale. In a...
Birla Sun Life plans to raise ₹5,000 crore from share sale
Aditya Birla Group plans to take its asset management business public through a ₹5,000 crore initial public offering to raise funds for expansion, three people with direct knowledge of the matter said. Aditya Birla Sun...
