Brazilian insurer Sul America SA has concluded its 3.18 billion reais ($597 million) sale of its auto unit and other businesses to Germany’s Allianz SE, it said in a securities filing on Friday. The deal was originally...
Government halts merger of 3 PSU general insurers; to infuse Rs 12,450 crore
The union cabinet has decided to put on hold the proposed merger of the three state-run general insurers even as it approved ₹12,450 crore in capital infusion. It cleared the extension of the scheme to provide free food...
Insurer Allstate to buy National General for about $4 billion
Allstate Corp said on Tuesday it will buy National General Holdings Corp for about $4 billion in cash as the U.S. insurer looks to expand its market share in personal lines insurance business. National General’s...
Paytm, Vijay Shekhar Sharma to acquire Raheja QBE General Insurance
Indian payments firm Paytm, owned by One 97 Communications Ltd. along with its founder Vijay Shekhar Sharma, is set to acquire Mumbai-based private sector general insurer Raheja QBE for ₹568 crores to fast track the...
Italy’s Generali in bid to acquire U.S. asset manager Brightsphere – sources
Assicurazioni Generali SpA has approached Brightsphere Investment Group Inc about a possible acquisition of the U.S. asset management firm, people familiar with the matter said on Friday. A deal would expand the U.S...
Italy’s top insurer Generali to buy 24.4% of rival Cattolica
Italy’s top insurer Generali has agreed to buy 24.4% of smaller rival Cattolica Assicurazioni, the two companies said on Thursday, in a surprise move that will boost Cattolica’s capital position. The investment will...
Singapore govt buys ICICI Pru Life stake worth Rs842 crore
The government of Singapore on Monday bought shares of ICICI Prudential Life Insurance Ltd worth around Rs842 crore, according to stock exchange data. The shares were bought from the life insurer’s promoter ICICI...
Prudential sells Jackson equity stake to Apollo-backed Athene for $500 million
Prudential sold a minority stake in its U.S. business, Jackson, to Apollo Global-backed Athene Holding for $500 million, the insurer said on Thursday, in the first phase of its plan to create an independent U.S...
Kedaara Capital invests Rs 567 cr in Religare’s health insurance arm
Religare Group said it had completed a transaction with Kedaara group entity, Trishikhar Ventures LLP, for investments in its health insurance subsidiary called Religare Health Insurance Company Limited (RHICL). This...
Munich Re’s Ergo to take stake in China’s Taishan insurance
Munich Re’s Ergo unit is entering China’s property and casualty insurance market with a 24.9% stake in Taishan Property & Casualty Insurance Co through a capital increase, the German insurance company said on Monday...
MassMutual explores sale of its retirement services business: sources
Massachusetts Mutual Life Insurance Company (MassMutual) is exploring a sale of its retirement services division, which has about $175 billion of assets under management and administration, people familiar with the...
Merger of three state-owned general insurers on back burner due to Covid-19
The union government’s plan to merge the three ailing public sector general insurance companies — National Insurance Company, Oriental Insurance Company, and United India Insurance Company – and subsequently list...
