Saturday, November 18, 2017

Capital Markets

ZhongAn seeks US$11bn valuation in HK IPO

ZhongAn seeks US$11bn valuation in HK IPO

China’s first internet-only insurer is selling a 15% stake that will see it raise US$1.5bn if the deal materialises.

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Singapore bond issuers urged to take up insurance

Singapore bond issuers urged to take up insurance

Such policies would pay for the costs of calling for meetings and legal and financial advisory fees.

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GC Securities and Marsh launch ILS platform

GC Securities and Marsh launch ILS platform

The JV standardises the placement process for collateralised reinsurance and private catastrophe bond deals.

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Fairfax buys stake in rival of Indian partner

Fairfax buys stake in rival of Indian partner

ICICI Lombard has agreed to allow the Canadian company to buy a 49% stake in nonlife startup Digit.

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Japan Post additional sell-down likely delayed

Japan Post additional sell-down likely delayed

The government may have to wait until 2018 to further sell down its stake if price remains weak.

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Insurers to spur IPO bonanza in India

Insurers to spur IPO bonanza in India

Total fundraising from first-time share sales could balloon to Rs500bn (US$7.8bn) this year.

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Reliance General Insurance to sell 10% stake through IPO

Reliance General Insurance to sell 10% stake through IPO

The Reliance Capital unit is the fourth general insurer in India to have announced its intention to list.

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Star Health Insurance plans US$470m stake sale

Star Health Insurance plans US$470m stake sale

The Indian insurer has reportedly appointed an investment bank for primary and secondary stake sales.

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Two state-owned insurers set to apply for IPO in India

Two state-owned insurers set to apply for IPO in India

GIC and New India Assurance are expected to tender their applications for initial public offerings within three weeks.

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Hong Kong exchange rejects AMTD’s insurance IPO

Hong Kong exchange rejects AMTD’s insurance IPO

The prospectus was reportedly described as “substantially incomplete” and an attempted appeal ended in failure.

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Manulife considers selling US unit in Asia refocus

Manulife considers selling US unit in Asia refocus

The Canadian insurer is reportedly toying with the idea of divesting its Boston-based John Hancock Financial Services division.

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SBI Life’s IPO plan gets final board approval

SBI Life’s IPO plan gets final board approval

The insurance unit of State Bank of India is aiming to raise US$1.1bn, becoming the second insurer to go public.

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China’s ZhongAn files US$1.5bn IPO in Hong Kong

China’s ZhongAn files US$1.5bn IPO in Hong Kong

China’s first internet-only insurer may launch its initial public offering before the end of the year.

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Korean firms raising capital ahead of IFRS 17

Korean firms raising capital ahead of IFRS 17

Some insurers are planning to issue hybrid capital securities in the US dollar bond market.

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China launches catastrophe insurance research centre

China launches catastrophe insurance research centre

The centre will be the country’s first research institution focusing on major disasters.

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Zhong An’s Hong Kong IPO expected July or August

Zhong An’s Hong Kong IPO expected July or August

The Chinese online insurer is expected to list as early as July or August to raise up to US$2b.

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Plan to merge three Indian insurers scrapped

Plan to merge three Indian insurers scrapped

Oriental Insurance, National Insurance and United India Insurance have been asked to come up with a new plan.

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Interest rate risk hounds Japanese insurers

Interest rate risk hounds Japanese insurers

Life insurers are failing to extend the duration of their assets because of lingering low bond yields in Japan.

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