UAE firm acquires Singapore unit of Zurich LifeOctober 2 2015 by InsuranceAsia News Staff
UAE-based financial advisers Nexus Investment is set to become one of the largest advisory firms in Singapore following its acquisition of Zurich Singapore, a unit of Zurich Life Insurance.
The acquisition includes Zurich Life Singapore’s 157 financial advisers, 20 members of management and its support staff, according to Tarun Khanna, chief executive at Nexus, in an interview.
The financial terms of the acquisition have not been disclosed.
Through the acquisition, Nexus is planning to enhance its product offerings to its clients and offer protection and savings products from multiple insurance company providers, among others.
Khanna said that the company’s goal is to expand the Singapore operations meaningfully.
He also expressed confidence that the acquisition will catapult Nexus into becoming one of the largest advisory firms in Singapore.
- June 11
Chinese regulator is examining could increase the cap on investments in equities of insurers' assets.
- June 7
The move will help insurers and reinsurers to transfer foreign capital home.
- June 4
Moody's is warning of a growing risk from overseas investments made by Japan's four life majors.
- May 21
Insurers will be allowed to use the instruments to hedge their risks.