Monday, February 26, 2018

M&A

Anbang fails in bid to buy Portugal’s Novo Banco

Anbang fails in bid to buy Portugal’s Novo Banco

The US$4.5bn bid has fallen through after month-long exclusive talks with Portugal’s central bank.

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Chinese private equity firm buys Ageas HK unit

Chinese private equity firm buys Ageas HK unit

JD Capital has struck a deal to buy Ageas’s Hong Kong life insurance unit for HK$10.7bn.

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Nippon Life buying smaller rival for US$3.4bn

Nippon Life buying smaller rival for US$3.4bn

Japan’s second-biggest life insurer is set to acquire Mitsui Life Insurance as it seeks to regain its market position.

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Anbang reportedly buying Canadian office tower

Anbang reportedly buying Canadian office tower

The Chinese insurer is said to be conducting due diligence to acquire a 17-storey building in Toronto’s financial district.

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Bank of China buys majority stake in Samsung life unit

Bank of China buys majority stake in Samsung life unit

The Chinese lender has paid US$200m for a 51% stake in Samsung Air China Life Insurance.

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Four Chinese firms bid for Israel’s Clal Insurance

Four Chinese firms bid for Israel’s Clal Insurance

Four Chinese groups have submitted bids to buy control of Israel’s second-biggest insurer.

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Fosun and FWD face off over Ageas HK life insurance arm

Fosun and FWD face off over Ageas HK life insurance arm

Final offers from the two companies have been invited and could reach more than US1$bn.

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Anbang Insurance leads race to buy Novo Banco

Anbang Insurance leads race to buy Novo Banco

Anbang’s US$4.45bn bid to acquire Portugal’s Novo Banco is likely to be selected by the Bank of Portugal.

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Japan’s growth dilemma continues to drive M&A

Japan’s growth dilemma continues to drive M&A

Japanese insurers are paying top dollar for US acquisitions, but these deals may be vindicated in the long run.

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Willis acquires Taiwan’s Elite Risk Services

Willis acquires Taiwan’s Elite Risk Services

Willis has paid an undisclosed sum for the Taiwanese specialist broker, doubling its presence in the country.

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Sumitomo to buy Symetra for US$3.8bn

Sumitomo to buy Symetra for US$3.8bn

Sumitomo Life has agreed to pay US$3.8bn to buy Berkshire Hathaway-backed Symetra Financial.

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Asia boosts Pru’s profit in first half

Asia boosts Pru’s profit in first half

The British life insurer is sticking to its strategy in Asia after the region helped to boost first-half profits.

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Anbang offers US$1bn for Japan’s Simplex

Anbang offers US$1bn for Japan’s Simplex

The acquisitive Chinese insurer is seeking to enter Japan’s real estate market through an auction.

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Sumitomo in M&A talks with Symetra Financial

Sumitomo in M&A talks with Symetra Financial

Japan’s fourth-largest insurer is reportedly in talks with Symetra Financial as it seeks to expand overseas.

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AIG to focus on consolidating Japan business

AIG to focus on consolidating Japan business

Integration of Japan’s Fuji Fire & Marine still a work in progress, according to CEO Peter Hancock.

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Mitsui Sumitomo buys stake in Sri Lanka’s Ceylinko

Mitsui Sumitomo buys stake in Sri Lanka’s Ceylinko

Japanese insurer purchases minority stake in one of Sri Lanka’s oldest and largest business conglomerates.

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Zurich confirms interest in RSA Insurance

Zurich confirms interest in RSA Insurance

Swiss insurer evaluating a potential offer but stresses no assurances that any offer will be made.

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China Minsheng to buy Sirius for US$2.2bn

China Minsheng to buy Sirius for US$2.2bn

Acquisition of Sirius seen to give support to CMI’s efforts to expand in the Bermuda reinsurance sector.

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Nina Klingspor, Allianz Global Corporate & Specialty

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