Symbo Platform Holdings, Singapore-based InsurTech platform said that it has raised $9.4 million led by CreditEase Fintech Investment Fund and San Francisco based investment firm Think Investments, with participation...
IRDAI approves Axis-Max Life deal
The Insurance Regulatory and Development Authority of India (IRDAI) has approved Axis Bank’s proposal to acquire 12% stake in Max Life along with its subsidiaries Axis Capital and Axis Securities, Max Financial said in...
India likely to announce the sale of IDBI Bank, stake in LIC: Report
India’s government plans to announce the sale of a 10% to 15% stake in state-run Life Insurance Corp, the country’s biggest insurer, in next week’s federal budget, as part of a privatisation push to...
Oaktree’s bid for DHFL’s insurance biz faces review
The insurance regulator may conduct a “fit and proper” test on the Indian fund used by US-based Oaktree Capital to hold a 51% stake in Dewan Housing Finance Corp. Ltd’s (DHFL’s) life insurance business if its...
Insurer Centene to buy Magellan in $2.2 billion mental health push
Health insurer Centene Corp said on Monday it has agreed to buy Magellan Health Inc in a $2.2 billion deal including debt, looking to build up its mental health services as more Americans struggle with COVID-19-related...
IDBI Bank sells 23% stake in its life insurance arm to Ageas for Rs 507 cr
Private lender IDBI Bank has concluded the sale of 23 per cent stake in IDBI Federal Life Insurance Company Ltd (IFLI) to Ageas Insurance International NV for a consideration of Rs 507 crore. With this, Ageas will hold...
Aon’s $30 billion Willis Towers deal in EU antitrust crosshairs
Aon’s $30 billion bid for Willis Towers Watson to create the world’s largest insurance broker faces a five-month-long investigation after EU antitrust regulators voiced concerns that the deal may hurt competition in key...
Aviva, UniCredit expect non-binding bids for insurance JV next week
Aviva and UniCredit expect non-binding bids for their insurance joint-venture next week as the British insurer moves to divest its Italian operations, three people close to the matter said. UniCredit plans to sell its...
Bain Capital buys British mutual life insurer LV= for $707 million
Mutual insurer Liverpool Victoria Financial Services (LV=) has agreed to sell its savings & retirement and protection businesses to funds advised by private equity firm Bain Capital Credit LP for 530 million pounds...
Aon’s $30 billion Willis deal faces EU probe – sources
The European Union’s antitrust regulators are to open a full-scale investigation into Aon’s $30 billion bid for Willis Towers Watson to create the world’s largest insurance broker, two people familiar with the matter...
Aviva to sell Vietnam unit to ManuLife
British insurer Aviva is to sell its Vietnamese business to Canadian insurer ManuLife it said on Monday, as it pushes ahead with plans to pull out from its non-core markets. Aviva, under new boss Amanda Blanc, is...
Zurich, Farmers to buy MetLife U.S. motor, home insurance business for $3.94 billion
Zurich Insurance and Farmers Exchanges have agreed to buy MetLife’s U.S. property and casualty business for $3.94 billion, the insurers said on Friday, after the COVID-19 pandemic made motor and home insurers more...
