Industry Segments: M&A Page 3 / 66
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- September 26 2024
India government may merge some state-owned general insurers: report
Over the last few years, the government has been considering several options for the firms such as mergers, listing, and strategic disinvestment.
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- September 26 2024
PSC shareholders approve Ardonagh’s US$1.5bn takeover
The broker merger in Australia is now pending final approval by the court, which is slated for October 1.
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- September 25 2024
Price Forbes ropes in Honan’s Thomas Russell to spearhead Singapore ANZ division
Russell has taken up the newly created role as director, head of Australia and New Zealand wholesale for Asia in a newly created position reporting to Phil Johnson, CEO for APAC.
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- September 23 2024
India’s Equirus Group acquires strategic stake in Raghnall Insurance Broking
Following the deal, the companies expect to place GWP of US$47.9m this year and US$119.7m by FY 2028.
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- September 19 2024
Australian, UK regulators greenlight Ardonagh’s takeover bid for PSC
The US$1.5bn scheme of arrangement to buy all the shares of the Australian broking group is now pending PSC's shareholders' and the court's approvals.
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- September 17 2024
Howden enters Japanese retail broking with Foresight acquisition, names Takuya Aibe CEO
Tokyo-headquartered Foresight offers retail brokerage, captive consulting & management services. The newly acquired business will be led by Aibe, who was most recently CEO of Gallagher Japan.
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- September 17 2024
Taiwan’s regulator blocks CTBC Financial’s US$4.1bn bid for Shin Kong Financial
The regulator's rejection now paves the way for the conglomerate's merger with Taishin Financial. Still, a merger will have little impact to Shinkong Insurance, Taiwan’s third-largest P&C insurer, whose biggest shareholder is separate and independent from the conglomerate.
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- September 17 2024
Howden expands Australia presence with Collegial Insurance’s portfolio acquisition
Collegial was founded in 2015 by director Russell Farrington and has a diverse portfolio ranging from listed corporates to SMEs.
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- September 4 2024
Gallagher promotes John Li to APAC client director
Perth-based Li joined the broker in February following its acquisition of mining specialist Ansin Insurance Brokers, whic he founded in 2019.
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- September 2 2024
India’s Aditya Birla Group completes sale of insurance broking arm
Following the deal, the intermediary business will be rebranded as Edme Insurance Brokers.
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- August 28 2024
Generali’s Indian JVs to rebrand following regulatory approvals on stake sale: report
The branding overhaul would see "Future" omitted from the name, and will likely take place after regulators approve the stake sale by Future Enterprises Limited, according to the local media.
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- August 22 2024
Central Bank of India wins bid for minority stake in Generali’s Indian JVs
The state-owned lender will acquire the stakes held by the insolvent Future Enterprises in the life and P&C businesses majority owned by the Italian insurance giant for a reported US$60.5m.
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- August 19 2024
AUB doubles down on UK retail expansion with Movo acquisition
The London-based broker is the second acquisition by the company in the UK after it picked up a 40% stake in AR network Momentum in June this year.
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- August 19 2024
Indian government mulls raising insurance FDI limit to 100% from 74%: report
The proposal, backed by IRDAI, is expected to ease other FDI rules for the sector, including a mandate to have Indian citizens in certain segments of the top management, according to a report by the Times of India.
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- August 19 2024
Central Bank of India set to acquire stakes in Future Generali P&C and life units: report
This acquisition is part of the bank's strategy to expand its presence in the insurance sector. The stakes, to be bought from debt-laden Future Enterprises, is expected to be announced soon, according to the Economic Times.
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- August 13 2024
PSC Insurance acquires specialist broker Eastern Prudential Insurance
The low-cost accommodation specialist wholesale broker has joined the Sydney office of the ASX-listed broking group.
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- August 8 2024
Hiscox terminates sale of DirectAsia to Ignite Thailand
The deal was pulled due to failure in meeting customary conditions and regulatory approvals, however, the Lloyd's player said it is "exploring other options" for the Asian retail business.
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- August 6 2024
MAS defends Allianz’s US$1.6bn cash offer for Income Insurance: report
The regulator's incoming deputy chairman Chee Hong Tat said during a parliamentary session that the central bank was satisfied with the process around the deal and that the potential deal won't adversely impact competition.
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- July 31 2024
Suncorp to ‘sharpen focus on delivering insurance’ as bank sale closes
The Queensland-based insurer has completed the sale of its banking arm to ANZ first announced in 2022 and expects to net US$2.7bn from the transaction.
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- July 30 2024
Ausure acquires Queensland’s Coastsure Insurance Brokers
Coastsure will continue to operate as it has prior to the merger, but with access to more resources and a larger team of insurance broking specialists.
