Munich-headquartered global insurer Allianz, through its wholly-owned subsidiary, Allianz Europe (the Offeror), has announced a pre-conditional voluntary cash general offer to acquire at least 51% of the shares of one of Singapore's biggest composite insurers.
Hollard International, part of South Africa's largest privately owned insurance group, and Absa Group, one of Africa's largest diversified financial services groups, have reached agreement for the sale of Absa's insurance businesses in Mozambique, Botswana and Zambia.
Saudi Reinsurance Company has completed all procedures for the sale of its entire 49.9% stake in Probitas Holdings (Bermuda) to Aviva Insurance for GBP123m ($160m).
Vietnam government and state-owned enterprises plan to divest some of their shareholdings in the country's two biggest insurers, namely, Baoviet Holdings (BVH) and PVI Holdings.
The NCBA Group, the fourth-biggest bank by market capitalisation, has acquired fully the insurer AIG Kenya from American International Group following receipt of all regulatory and corporate approvals.
BMS Group has appointed Mr Ryo Iizuka as director of private equity, M&A and tax in Japan.
Doha-headquartered AlKhaleej Takaful Insurance Company has agreed to sell its 25% equity in Bahrain National Life Company (BNL).
Allianz Global Investors is investing in a 2% stake in Guomin Pension & Insurance Company, making the German asset management company the 18th shareholder of the pension insurance start-up.
Material changes to the shareholding structure of Income Insurance could ultimately weaken the likelihood of support from the Singapore government through NTUC Enterprise Co-operative, the majority shareholder of Income Insurance, said S&P Global Ratings (S&P).
Sanlam Limited (Sanlam) and MultiChoice Group have entered into an agreement for Sanlam to acquire 60% of MultiChoice's insurance business, NMS Insurance Services (NMSIS), as well as a long-term commercial arrangement to expand insurance and related financial service offerings into MultiChoice's extensive African subscriber base.