FAL Corporation, a wholly-owned subsidiary of Canadian investor Prem Watsa’s Fairfax Financial Holdings, has sold 4.99 per cent equity stake in ICICI Lombard general insurance for Rs 2,562 crore in a block deal. This...
Reliance Capital’s stake sale to Nippon Life to be completed by month-end
Reliance Capital’s deal to sell its entire stake in mutual fund arm to joint venture partner Japan’s Nippon Life Insurance will be completed by the end of this month, RNAM CEO Sundeep Sikka said on Monday...
France’s CNP and Brazil’s Caixa seal $1.7 billion insurance deal
France’s CNP Assurances SA has reached a deal worth 7 billion reais ($1.7 billion) with Caixa Economica Federal to sell insurance in the bank’s more than 3,000 branches, the Brazilian state-owned lender said on Thursday...
RNAM retail quota subscribed 24%; SBI Life institutional bids at 15%
The offer for sale (OFS) for Reliance Nippon Life Asset Management (RNAM) got bids 24 per cent retail bids while that of SBI Life received 15 per cent institutional bids by 1.30 pm on Thursday. Offer for sale is a two...
U.S. sues to block merger of title insurance providers
The U.S. Federal Trade Commission said on Friday that it had filed an administrative complaint aimed at preventing title insurance provider Fidelity National Financial, Inc. from buying rival Stewart Information...
IDBI Bank to divest stake in insurance joint venture
A day after the Union cabinet approved infusing ₹9,300 crore into IDBI Bank, the lender announced plans to sell its stake in its insurance joint venture IDBI Federal Life Insurance Co. JP Morgan India has been mandated...
Prudential buys Assurance IQ for $2.35 billion in new tech bet
Prudential Financial Inc is set to buy online insurance startup Assurance IQ Inc for $2.35 billion, the latest in a series of moves by traditional insurers to up investment in technology and data crunching by buying...
CCI approves HDFC’s 51.2% stake buy in Apollo Munich Health
The Competition Commission of India Friday said it has approved mortgage major HDFC’s acquisition of 51.20 per cent stake in Apollo Munich Health Insurance and subsequently merger of the latter into HDFC Ergo in a...
Australia’s CBA reworks life insurance unit sale deal terms with AIA
Commonwealth Bank of Australia has accepted A$150 million ($101 million) less for the sale of its life-insurance business to Hong-Kong based AIA Group, as it signed revised agreements to fast-track the long-delayed...
Max Financial in talks to sell 10% stake for Rs 1,200cr
Analjit Singh, the founding promoter of Max group, is in talks to sell a 10% stake in Max Financial Services Ltd, the holding company for Max Life Insurance Ltd, to raise as much as Rs 1,200 crore. Hero Corp, the...
Cigna seeks sale of group benefits insurance business – sources
U.S. health insurer Cigna Corp is exploring a sale of its group benefits insurance business, which could be valued at as much as $6 billion, four people familiar with the matter said on Tuesday. The unit for sale offers...
Genworth to sell Canada unit stake to Brookfield in $1.81 billion deal
Genworth Financial Inc agreed on Tuesday to sell its 57% stake in its Canadian mortgage insurance unit for about C$2.4 billion ($1.81 billion), as the U.S. insurer looks to close its long-delayed sale to China Oceanwide...
