The Future group is looking for a buyer for its insurance venture to ease pressure on the promoter entities to pay off its debt. With the share prices of group companies falling rapidly on the bourses, the group is...
Prudential signs $753 mn deal with FWD Group
Prudential Plc, the UK insurer besieged by activist investor Third Point, has agreed to acquire a bancassurance partnership in Thailand from FWD Group Ltd. in a 24.5 billion baht ($753 million) deal. Prudential’s Thai...
Aon buys Willis for $30 billion in world’s largest insurance deal
Aon Plc said on Monday it would buy Willis Towers Watson Plc for nearly $30 billion, in an all-stock deal which will make it the world’s biggest insurance broker and give it more pricing power, but also attract...
Aviva to sell entire stake in Indonesia joint venture
British insurer Aviva said on Friday it would pull out completely from Indonesia by selling its entire stake in joint venture PT Astra Aviva Life to its partner in the operation. “The transaction is expected to complete...
Italy’s Exor in MoU with France’s Covea for sale of PartnerRe for $9 billion
Investment group Exor said on Tuesday it has entered a memorandum of understanding (MoU) to sell its 100% stake in Bermuda-based reinsurer PartnerRe to France’s Covea for $9 billion in cash. The announcement came nearly...
Religare Enterprises acquires 14.36% stake in RFL from PE investors
Religare Enterprises on Saturday said it has acquired additional 14.36 per cent stake in Religare Finvest Ltd (RFL) from private equity investors. Post the acquisition, RFL has become a wholly-owned subsidiary of the...
Hedge fund Third Point calls on Prudential to break up
Hedge fund Third Point LLC amassed a more than $2 billion stake in Prudential Plc and called on the British insurer on Monday to split into two companies. Third Point’s demands, first reported by Reuters earlier on...
Max Estates forms JV with New York Life for Noida realty project
Max Estates, the wholly owned subsidiary of Max Ventures and Industries, has formed a 51:49 joint venture with New York Life Insurance, the largest mutual life Insurance company in the United States, to develop a...
Cabinet may approve merger of 3 state-owned general insurers
The Union Cabinet is likely to approve the merger of three state-owned general insurers — Oriental Insurance Company, National Insurance Company and United India Insurance Company –on Wednesday, a government...
Religare Enterprises to divest stake in arm RHICL to Kedaara for Rs 200 crore
Religare Enterprises on Friday said it has entered into a pact with Kedaara Capital for divesting 6.76 per cent stake in its arm Religare Health Insurance Company (RHICL) for Rs 200 crore. “The company has entered...
Italy’s Exor in talks over $9 billion sale of PartnerRe to France’s Covea
Investment group Exor, which controls carmaker Fiat Chrysler, is in exclusive talks to sell reinsurer PartnerRe to France’s Covea in a deal one source familiar with the matter said was worth around $9 billion. Exor, the...
Fidelity National nears deal to acquire FGL Holdings – sources
Fidelity National Financial Inc is nearing a deal to acquire U.S. annuities and life insurance firm FGL Holdings Inc, as it seeks to expand beyond its core title insurance business, three people familiar with the matter...
