French life and health insurer AXA has agreed to buy a 51% stake in Italian direct insurance group Prima for 500 million euros ($571 million) as it seeks to strengthen its position in Italy’s motor business, it...
PSBs ready insurance units’ divestment plan
State-run banks have informed the government that they will actively pursue disinvestments in their insurance subsidiaries after the Centre approves 100% foreign investment in the sector. Some lenders have shared their...
Germany’s Allianz ties up with India’s Reliance-owned Jio Financial for reinsurance venture
German insurer Allianz has formed an equally-owned reinsurance joint venture in India with Reliance Group-owned Jio Financial Services, expanding its presence in the country’s insurance market, the companies said...
Govt to sell minority stake in LIC
The government is working on further stake sale in Life Insurance Corporation (LIC) and the disinvestment department would work out finer details of the transaction, sources said. The government currently holds 96.5 per...
Medi Assist Insurance completes acquisition of Paramount TPA
Medi Assist Insurance TPA Pvt Ltd on Wednesday said it has completed acquisition of a 100 per cent stake in Paramount Health Services & Insurance TPA. Both entities will continue to operate independently until a...
Reinet Investments in talks to sell stake in UK insurer PIC
Luxembourg-based investment vehicle Reinet Investments said on Friday it was in talks for the potential disposal of its nearly 50% interest in UK insurer Pension Insurance Corporation (PIC). The firm did not provide...
Brighthouse bidders narrow to TPG, Aquarian in hunt to buy US insurer, sources say
Brighthouse Financial has narrowed down a field of suitors to money manager TPG and Abu Dhabi-backed financial investor Aquarian Holdings, as the U.S. life insurance and annuity provider continues to explore a potential...
Central Bank of India completes acquisition of stake in two Future Generali India Insurance companies
Central Bank of India (CBoI) on Thursday said it has completed acquisition of 24.91 per cent equity stake in Future Generali India Insurance Company Ltd (FGIICL) and 25.18 per cent equity stake in Future Generali India...
Bajaj Group get CCI’s nod to acquire Allianz’s 26 pc stake in insurance JVs for Rs 24,180 cr
The Competition Commission of India (CCI) on Tuesday said it has approved Bajaj Group’s plan to acquire Allianz SE’s 26% stake in its life and general insurance ventures for a total consideration of Rs...
InsuranceDekho set to merge with RenewBuy
In a move that signals further consolidation in the insurance distribution landscape, two distributors-InsuranceDekho and RenewBuy-have signed merger documents through a share swap that will value the merged entity at...
Aviva’s $4.9 billion Direct Line deal faces UK competition probe
Aviva’s bid to become Britain’s largest home and motor insurer via a 3.7 billion pound ($4.92 billion) takeover of smaller rival Direct Line suffered a potential snag on Wednesday, after Britain’s...
Bajaj Group seeks CCI’s nod to acquire Allianz’s 26% stake in insurance JVs
Bajaj Group has sought the Competition Commission of India’s (CCI) approval to acquire a 26 per cent stake each in its insurance joint ventures Bajaj Allianz General Insurance and Bajaj Allianz Life Insurance from...
