Mutual insurer Groupe Macif has stepped up efforts to buy Aviva’s French arm in a deal worth about 3 billion euros after an Allianz-led consortium bowed out amid firm resistance from French unions and local partners...
2020: A year of Covid, M&A & claims for non-life insurers
The year 2020 will go down for the Indian non-life insurance sector as a year of coronavirus that resulted in large scale digital embracement and increased health insurance spread, reduced overall business, industry...
Approval from IRDAI on Axis Bank stake hike expected by March: Max Life CEO
Max Life Insurance CEO and managing director Prashant Tripathy has said that approval from the insurance regulator on Axis Bank proposal to raise its stake in the insurer to about 19 per cent should come through within...
Standard Life sells 27.8 mn shares to prune stake in HDFC Life to 8.89%
London-based Standard Life on Thursday sold 27.8 million shares –1.38 per cent stake–in HDFC Life Insurance Company at Rs 619.15 apiece, raising Rs 1,720 crore. A clutch of institutional investors were among...
Australia’s Westpac sells general insurance unit to Allianz for $535 million
Australia’s Westpac Banking Corp will sell its general insurance arm to German insurer Allianz for A$725 million ($535 million), it said on Wednesday, further trimming its portfolio to beef up capital and focus on local...
Vienna Insurance buys Aegon’s Central and Eastern European business
Vienna Insurance Group will buy Dutch insurer Aegon’s Central and Eastern European business for 830 million euros ($993 million), cementing Vienna’s regional lead and raising cash for Aegon to cope with the coronavirus...
Aegon to sell Central and Eastern European business to Vienna Insurance
Dutch insurer Aegon said on Sunday it would sell its Central and Eastern European business to Vienna Insurance Group for 830 million euros ($993 million) to raise cash to cope with the fallout from the coronavirus...
Zurich Insurance nears £3 billion deal for MetLife unit – sources
Switzerland’s Zurich Insurance Group AG is in advanced talks to acquire MetLife Inc’s U.S. property and casualty (P&C) car and home insurance unit for close to $4 billion (3.01 billion pounds), according to people...
IRDAI issues exposure draft on compensating shareholder on merger of insurers
Regulator IRDAI has come out with draft regulations for determination of compensation to shareholders on merger of insurance companies, under which payment will be based on the residual value of assets...
AIG considers IPO or 19.9% stake sale for life and retirement unit
Insurer American International Group Inc said on Friday it is considering an initial public offering or a private sale of nearly 20% of its life and retirement business to separate the unit from the rest of the company...
Merger of insurers: Irdai releases draft norms on shareholder compensation
The insurance regulator on Thursday released draft guidelines on determination of compensation to shareholders on the event of merger of an insurer. In it, the regulator has said that shareholders whose rights against...
Insurer RSA in $9.4 billion takeover talks with Intact, Tryg
RSA is in talks with a consortium of Canadian insurer Intact Financial and Danish insurer Tryg about a possible break-up deal that values the British firm at about 7.2 billion pounds ($9.46 billion). RSA said its board...