White Mountains Insurance said on Friday it would sell a controlling interest in insurance distribution platform Bamboo to European private equity firm CVC in a deal that values the company at $1.75 billion. Shares of...
Tiptree to sell Fortegra to South Korean insurer DB Insurance for $1.65 billion
U.S. investment manager Tiptree said on Thursday that South Korea’s DB Insurance would acquire its specialty insurance unit, The Fortegra Group, for about $1.65 billion in cash. The sale would also mark an exit...
Insurer IAG’s proposed $877 million buy of RAC insurance draws ACCC scrutiny
Australia’s competition watchdog said on Thursday that Insurance Australia Group’s proposed A$1.35 billion ($877.23 million) acquisition of The Royal Automobile Club of Western Australia’s insurance...
Cigna’s unit to invest $3.5 billion in specialty pharmacy firm Shields
U.S. health insurer Cigna Group unit Evernorth Health will invest $3.5 billion in Shields Health, the company said on Tuesday, bolstering its presence in the fast-growing specialty pharmacy business. The investment...
Japan’s Sompo to acquire Aspen Insurance for $3.5 billion in westward push
Sompo Holdings said on Wednesday that it would acquire New York-listed Aspen Insurance Holdings for about $3.5 billion, joining a number of Japanese financial firms that are investing in overseas assets to drive growth...
Govt to begin LIC stake sale roadshows, may sell 3% stake in first tranche
The government is expected to start roadshows within the next two weeks to prepare for selling a part of its stake in Life Insurance Corporation of India (LIC), CNBC-TV18 reported. The first round of divestment could...
Bajaj Allianz Life Insurance buys 2.1% stake in JM Financial Home Loans
Bajaj Allianz Life Insurance has acquired about 2.1% of JM Financial Home Loans from JM Financial Credit Solutions, a unit of JM Financial, for ₹65.5 crore. The insurer bought 13.65 million shares at ₹48 apiece...
French insurer Axa to buy 51% stake in Italy’s Prima
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...
