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...
EYE on Stakeholders: MAX India Group Sells various firms to PE Players.
Max India sold its entire 51% stake in Max Bupa Health Insurance Co Ltd to private equity firm True North Fund for over Rs 510 crore. Earlier, it was in talks with HDFC Life to merger its life insurance business Max...
How will the merger of public sector general insurers impact the industry?
The government proposes to merge National Insurance, United India Insurance and Oriental India Insurance into one company. We spoke to experts about the challenges this can raise Naresh Makhijani, partner and head...
Nestle opens door to a possible L’Oreal stake sale as growth slumps
Nestle SA Chief Executive Officer Mark Schneider needs to keep filling his shopping cart. The Swiss owner of Nespresso coffee and Perrier water said it plans “active portfolio management” after its weakest sales growth...
Australia’s CBA to sell insurance unit to AIA Group for $3 billion
Commonwealth Bank of Australia has agreed to sell its life insurance unit to Hong Kong-based AIA Group for $3.1 billion, in the biggest Asian buyout of an Australian financial firm. The deal, which ranks among the top...
PSU non-life insurers gear up for listing
The equity market will see a spate of initial public offerings (IPOs) of general insurance companies, predominantly of government-owned companies. The Finance Minister in his Budget speech had announced the listing of...
HDFC Life to launch IPO; Max Life merger on hold with no regulatory nod
HDFC Standard Life Insurance on Monday led to come out with an IPO and put on hold its proposed merger with Max Life in absence of regulatory approval. The board of HDFC Standard Life Insurance in its meeting held on...
Max gives its ‘Life’ to HDFC
Earlier last year, Max Group had decided to vertically split Max India Ltd. into 3 separate listed companies- Max India Ltd (Health and Allied Businesses) Max Financial Services Ltd (Life Insurance) Max Ventures and...