Subject: M&A Page 22 / 72
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- September 29 2022
China Merchants Bank consolidates Hong Kong GI businesses
CMB Wing Lung Insurance to merge with China Merchants Insurance in an all-stock deal.
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- September 26 2022
Zurich joins hands with Piramal for Reliance General Insurance bid: report
The Swiss carrier's JV will compete with PE firm Advent for the general insurance arm of debt-ridden Reliance Capital.
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- September 8 2022
AUB acquires IAG-owned strata unit in Austagencies build out
Underwriting agency SUU will still get capacity from Insurance Australia Group under a long-term binder agreement.
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- August 31 2022
Sompo International sells Endurance at Lloyd’s to RiverStone
The deal marks Sompo International's withdrawal from Lloyd's and consolidates its UK presence into a single platform.
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- August 30 2022
Generali consolidates Malaysian presence after Axa JV buyout
The group now owns 53% of Axa Affin GI and 100% of MPI Generali Insurans and plans to merge them.
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- August 25 2022
Tencent takes 32% stake in Samsung P&C China
The tech company becomes the second largest shareholder after CBIRC approved the insurer's plan to more than double its registered capital.
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- August 24 2022
PSC agrees US$5.4m Hong Kong broker deal; posts 30% EBITDA growth
Underlying revenue in FY 2022 grew 22.8% to US$175.4m including 13% of organic growth.
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- August 17 2022
Steadfast swoops for Insurance Brands Australia, posts strong results
The broking group is paying US$210m for IBA which owns specialty underwriting agency ProRisk.
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- August 10 2022
Mitsui Sumitomo seals US$400m Transverse deal
The fronting carrier gives the Japanese insurer access to the US$66bn American MGA market.
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- August 5 2022
Chubb bullish on Asia prospects after US$5.75bn M&A deal completes
CEO Evan Greenberg eyes cross-selling opportunities as Asia becomes a US$7.5bn region after Cigna deal.
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- August 3 2022
Aviso Broking continues deal spree with Queensland purchase
The broking consolidator has snapped up North Queensland Insurance Brokers.
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- July 29 2022
Aviso Broking acquires Sydney’s Macquarie Insurance Brokers
Macquarie's clients are from sectors including construction, financial services and marine.
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- July 27 2022
Insurtech Cover Genius acquires Booking Protect for event expansion
The deal provides the capability to offer embedded ticketing cover for entertainment including in Japan and Australia.
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- July 25 2022
Ensurance sells UK operations to PSC to focus on Australian growth
Ensurance chief executive Tom Kent cited "immense" opportunities to grow in Australia.
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- July 19 2022
Suncorp to focus on insurance after bank sale
After ANZ deal, the Australian P&C player is set to invest in digital, product design and risk personalisation.
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- July 18 2022
Suncorp sells banking arm to ANZ for US$3.34bn
Suncorp will become a "dedicated" insurance business when the transaction completes.
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- July 18 2022
PartnerRe acquisition gives Covéa Asia platform
With US$600m in Asian premiums the French mutual can capitalise on fast-growing markets.
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- July 12 2022
Gallagher acquires Australia’s National Insurance Group
The deal will open up the broker's geographic reach in Victoria’s Surf Coast.
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- July 8 2022
Miller acquires Japanese marine broker Lead Insurance Services
Lead specialises in hull, war risks and protection & indemnity.
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- July 5 2022
Howden buys Wallace McLean in New Zealand expansion
The Kiwi broker offers agriculture, shipping, freight and entertainment lines, among others.
