Industry Segments: M&A Page 13 / 66
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- February 10 2023
Australia’s Open in exclusive talks to acquire Saga underwriting unit
Gibraltar-based Acromas is a personal lines underwriter for Saga and AA Insurance.
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- February 9 2023
French consortium to acquire CCR Re majority interest
New owners will infuse US$215m in fresh capital into the reinsurer, which derives around 25% of its premium income from Asia.
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- February 7 2023
Gallagher continues deal spree with Melbourne broker buy
Professional Insurance Solutions, led by John Whiteside, was set up in 2008 and is focused on SME clients.
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- February 7 2023
BYD acquires online insurer for US$530m: report
The deal was done on January 31 with the EV maker agreeing to acquire 100% equity of the carrier, which had entered bankruptcy last year.
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- February 3 2023
Hong Kong’s MHK buys Lombard International Singapore
The deal is specialty (re)insurance and HNW life broker MHK Insurance Services' first overseas M&A foray.
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- February 3 2023
Chinese insurtech Cheche Group initiates SPAC merger for US listing
The transaction values the combined company at an enterprise value of US$841m.
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- February 2 2023
Honan snaps up Ardrossan Insurance Brokers
Melbourne-based Ardrossan was established by Nick Harvey in 2013 and works with sectors including manufacturing, retail, hospitality, finance, property, logistics, construction and sport.
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- February 2 2023
EV giant BYD in talks to acquire Yian P&C Insurance
The Shenzhen-headquartered insurer was seized by Chinese authorities in 2020.
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- January 17 2023
BMS acquires Austbrokers Coast to Coast
The Queensland-based target specialises in transport, construction, hazardous goods and SME retail.
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- January 10 2023
Reliance General Insurance’s fundraise to be delayed as parent restarts sale process
Lenders of Reliance Capital voted unanimously to hold a second e-auction for an outright sale after a dispute over the original winning bid.
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- January 6 2023
Suncorp checks on Zurich’s Australian P&C arm again: report
Any proposed deal would likely exclude Suncorp's travel insurance portfolio Cover More.
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- January 5 2023
SEC approves Axa Philippines-Charter Ping An merger
Axa will assume the assets, liabilities, rights and obligations of the firm, while customers will not be affected.
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- January 3 2023
Composite licenses regime could drive insurance M&A in India
The new rule will encourage more tie-ups in the industry, allow standardisation of policies and introduction of customer-centric strategies.
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- December 28 2022
Chinese broker Fanhua withdraws going-private proposal
The company's broker's founder Yinan Hu had offered to privatise the company in 2021 for US$9.8 per American depository share.
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- December 28 2022
Asian M&A: deals that shaped the market in 2022
The region saw global insurers expanding their grip on South-East Asia, broker consolidation and a PE-backed digital push.
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- December 21 2022
Electric carmaker Nio ramps up brokerage arm with Huiding acquisition
The firm joins peers Byd and Li Auto in expanding their broking arms with China's EV premiums expected to double to US$10bn in 2022.
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- December 19 2022
PE firm leading the race for Aditya Birla Insurance Brokers: report
Samara Capital is reportedly in advanced talks to buy the Indian conglomerate's broking arm for about US$123m.
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- December 19 2022
Regional P&C players bet on Indonesia despite headwinds
The country is seeing a flurry of deals and is expected to overtake Thailand as the largest Asean P&C market.
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- December 16 2022
Santam retains India, Malaysia operations following Sanlam-Allianz deal
The African financial services group holds a 23% stake in India's Shriram General Insurance and 49% of Malaysia's Pacific & Orient Insurance.
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- December 14 2022
Gallagher acquires Aviation Insurance Australia
The aviation broker's MD Ian Tait and his team will stay in Brisbane and report to Paul Harvey, Gallagher's Australia specialisms MD.
