Wednesday, September 20, 2017

M&A

China insurers’ profits up 10% in H1

China insurers’ profits up 10% in H1

Industry players raked in Rmb116.1bn during the first six months of the year.

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China tells Anbang to sell overseas assets

China tells Anbang to sell overseas assets

The company has been urged to channel its overseas investments back to China and dispose of its offshore assets.

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HDFC Standard, Max Life call off proposed merger

HDFC Standard, Max Life call off proposed merger

Failing to secure regulatory approval in India, the two companies have cancelled their merger plans.

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ICICI Pru in final stages of Sahara India Life takeover

ICICI Pru in final stages of Sahara India Life takeover

The two companies are in the final rounds of discussions, with completion expected soon.

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IDBI Federal Life Insurance eyes 100% stake sale

IDBI Federal Life Insurance eyes 100% stake sale

The sale could provide an exit for joint venture partners IDBI Bank, Federal Bank and Ageas.

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Aetna buys Bupa Thailand

Aetna buys Bupa Thailand

The deal is part of a strategy to expand in Asia and go “broader and deeper” into local healthcare markets.

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China continues to rein in financial risks

China continues to rein in financial risks

Insurers in the country are now barred from offering credit products to companies for financing.

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Global Insurance buys out Aon in India JV

Global Insurance buys out Aon in India JV

The deal for the 26% stake immediately changes the JV’s brand name to Global Insurance Brokers.

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Aviva to sell Friends Provident for US$443m

Aviva to sell Friends Provident for US$443m

It has agreed to sell the business to RL360 Holding Company, a unit of International Financial Group, to free up capital.

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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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Chinese insurers advised to divest non-core assets

Chinese insurers advised to divest non-core assets

An official from the the China Insurance Regulatory Commission has cautioned against a wide range of risks facing the industry.

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India’s HDFC Life shareholders push IPO plans

India’s HDFC Life shareholders push IPO plans

Standard Life is reportedly keen to move forward with the listing after the merger with Max Group’s is likely to be called off.

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Sale of SCB insurance unit to FWD halted

Sale of SCB insurance unit to FWD halted

What could have been the largest insurance M&A transaction in South-East Asia has failed on valuation differences.

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OCBC sells 33.3% stake in Hong Kong Life Insurance

OCBC sells 33.3% stake in Hong Kong Life Insurance

The sale to First Origin International yielded a return of around US$309m.

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CIRC crackdown hits universal life sales

CIRC crackdown hits universal life sales

Premiums are down 59% year-on-year on the back of an aggressive campaign to tame market players.

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Anbang sues former owners of Tongyang Life

Anbang sues former owners of Tongyang Life

In a case of buyer’s remorse, the Chinese insurer has complained that the sellers deliberately concealed risks.

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Mirae Asset Life to buy 50% stake in Prevoir Vietnam

Mirae Asset Life to buy 50% stake in Prevoir Vietnam

The deal marks Mirae’s entry into the Vietnamese market, having reportedly outbid a Chinese competitor.

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Five Philippine non-life insurers to exit industry

Five Philippine non-life insurers to exit industry

Some non-life insurers in the country have decided to voluntarily exit the insurance business by year-end.

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SUMMER 2017

House of cards

From supply chains to cyber, we discuss emerging risks with a roundtable of Singapore risk managers