Thursday, February 22, 2018

Honan Insurance gets MAS nod to acquire NGA Benefits

Honan Insurance Group has received approval from the Monetary Authority of Singapore (MAS) to proceed with its acquisition of NGA Benefits.

In a statement, Honan Insurance said the NGA acquisition is part of its continuing investment in Southeast Asia, which forms part of the group’s strategy for the next three years.

NGA Benefits is an employee benefits business based in Singapore.

With the MAS approval, NGA’s 28 staff will join the Honan team at Raffles Place over the next two months.

The key focus for Honan over this period is to ensure a seamless experience for clients.

Damien Honan, CEO of Honan Insurance Group, said the teams in Australia and Singapore are mobilising resources and working hard behind the scenes to ensure minimal disruption during the transition.

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