The Insurance Regulatory and Development Authority of India (IRDAI) is most likely to give the go-ahead to IndusInd International Holdings Limited’s acquisition of Reliance Capital’s three insurance...
BNP Paribas to acquire Fosun’s around 9% stake in Belgian insurer Ageas
BNP Paribas has signed an agreement with China’s Fosun Group to acquire its around 9% stake in Belgian insurer Ageas for a sum the French bank estimates at 730 million euros ($777 million). Ageas and BNP Paribas...
Aviva completes takeover of AIG’s UK life insurance business
British insurer Aviva said on Tuesday it had completed the 453 million pound ($574 million) acquisition of AIG’s UK life insurance business, sealing the largest takeover under CEO Amanda Blanc to date. Aviva...
South Africa’s Sanlam hikes stake beyond 50% in Shriram’s insurance JVs
Betting on India’s insurance growth potential, South African financial services giant Sanlam, on Friday, once again raised its holding in two of its Indian insurance joint ventures (JVs) with South India-based Shriram...
CCI clears Axis Bank’s proposed acquisition of stake in Max Life Insurance
Fair trade regulator Competition Commission of India (CCI) on Tuesday said it has approved Axis Bank’s proposed acquisition of a stake in Max Life Insurance Company Ltd. Last year in August, the company announced...
UK competition regulator decides against in-depth probe of Aviva, AIG Life UK merger
Britain’s competition regulator said on Thursday that it has decided not to open an in-depth ‘phase 2’ investigation into Aviva’s acquisition of AIG Life UK. Britain’s Aviva agreed last...
IRDAI seeks more details from IIHL to approve deal for Reliance Capital’s insurance business
In a letter to the administrator of Reliance Capital (RCap), IRDAI said it cannot undertake due diligence regarding acquisition of the distressed financial services company’s insurance business by Hinduja-owned...
Future Enterprises gets bids for manufacturing units, insurance biz
Central Bank of India and Mumbai based M Pallonji & Co are the two bidders for Future Enterprises’ insurance business offering Rs 450 crore and Rs 300 crore respectively, two people familiar with the process said...
Omkara ARC acquires Park Hyatt Hyderabad’s bad loans at 34% discount
Manish Lalwani-promoted Omkara ARC has acquired Park Hyatt Hyderabad’s loans for ₹300 crore from lenders at a 34% discount from sellers that included BlackRock and JM Financial. The all-cash deal involved Omkara...
Aviva sells Singlife joint venture stake for $1.2 bln
Aviva has completed the sale of its stake in Singapore Life Holdings, plus two debt instruments, for a combined 937 million pounds ($1.19 billion), the British insurer said in a statement on Monday. Aviva announced in...
Rothesay buys 6 bln pound Scottish Widows bulk annuities from Lloyds
Pension insurance specialist Rothesay has agreed to buy the about 6 billion pound ($7.67 billion) Scottish Widows in force bulk annuity portfolio from Lloyds Banking Group, the companies said on Wednesday. The bulk...
Aviva re-enters Lloyd’s market with $300 million acquisition
British insurer Aviva said on Monday it will re-enter the historic Lloyd’s insurance market with a 242 million pound ($307 million) acquisition of insurance platform Probitas. The deal bolsters Aviva’s...
