Thursday, November 23, 2017

M&A

PICC eyes South-East Asia acquisitions

PICC eyes South-East Asia acquisitions

China’s biggest non-life insurer may see a couple of deals happening before the end of this year, according to a company executive.

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Investment income lifts China Life profits

Investment income lifts China Life profits

Net income rose by 17.8% in the first six months of the year, driven by an 11.45% investment return.

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Anbang Life’s credit rating lowered

Anbang Life’s credit rating lowered

A Chinese rating agency has downgraded the insurer three months after CIRC curtailed its operations.

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Mitsui Sumitomo to buy Singapore’s First Capital

Mitsui Sumitomo to buy Singapore’s First Capital

The deal will see it pay US$1.6bn to the existing owner, Canada’s Fairfax Financial Holdings.

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Jack Ma-backed firm eyes Asian unit of MassMutual

Jack Ma-backed firm eyes Asian unit of MassMutual

A consortium led by Yunfeng Financial Group has expressed interest to pay about US$1.7bn for the business.

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Ping An registers best half-year profit in a decade

Ping An registers best half-year profit in a decade

The results were driven by strong growth in life premiums and came despite a government crackdown on the industry.

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Centrum Group gets broking licence in India

Centrum Group gets broking licence in India

The firm controlled by former Standard Chartered Asia chief Jaspal Bindra is expanding its insurance operation.

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Cigna raises stake in India JV

Cigna raises stake in India JV

An application with the regulator will increase its stake in the joint venture with TTK to 49% from 26%.

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Foreign insurers in Malaysia pressured to trim shareholdings

Foreign insurers in Malaysia pressured to trim shareholdings

Four companies have until the end of this month to reduce their holdings and divest to local partners in line with new regulations.

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Asian insurance M&A slumps by 40%

Asian insurance M&A slumps by 40%

The decline is largely due to more stringent capital controls implemented in China, according to a study by Clyde & Co.

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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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