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...
Zurich Insurance company to acquire 70% stake in Kotak General for ₹5,560 crore in single tranche
Zurich Insurance Company will acquire a 70 per cent stake in Kotak General Insurance Company Limited for ₹5,560 crore in a single tranche, informed Kotak Mahindra Bank in a regulatory filing to the stock exchanges on...
Achmea in talks with NN Group, Athora to sell life insurance business, sources say
Dutch insurer Achmea has held early stage discussions about a potential sale of its life insurance operations, including with rivals NN Group and Apollo Global Management-backed Athora, four people familiar with the...
Bharti Group in talks with SBI Life, others to sell insurance business
Bharti Group is in advanced talks with SBI Life and some other insurers to sell its now wholly owned life insurance venture Bharti AXA Life Insurance, people aware of the negotiations told ET. The move comes after...
Cigna nears $3 bln-$4 bln deal to sell Medicare Advantage unit – source
Health insurer Cigna Group is in exclusive talks to sell its Medicare Advantage business to Health Care Service Corp (HCSC) in a deal that could value the unit between $3 billion and $4 billion, a source familiar with...
