The central government, following its banking sector consolidations, is now preparing to merge insurance companies.
International marine insurer Allianz Commercial and leading Managing General Agent (MGA) Coastal Marine Asia Underwriting are teaming up to extend their marine hull insurance portfolio throughout the Asia-Pacific.
Japan's Mitsui Sumitomo & AD Insurance will acquire an 18% stake in American asset manager Barings for $1.44bn from parent company MassMutual.
Salama Cooperative Insurance Company has announced on the Saudi Stock Exchange that the Insurance Authority has granted its approval for the insurer's merger with Enaya Saudi Cooperative Insurance Company.
International health insurer April International and property and casualty insurer Sompo have entered into a partnership to expand international private medical insurance (IPMI) offerings across the Asia-Pacific region.
Manulife Financial Corporation and Mahindra & Mahindra (M&M) are forming a 50:50 life insurance joint venture in India. The partnership was announced in a 12 November press release by Manulife, noting that the deal remains subject to regulatory approvals.
Willis, a WTW business, has appointed Mr Vijay Nair as head of tax insurance for APAC. This newly created role is in Willis' M&A business within the financial, professional and executive risks specialty business.
Mergers and acquisitions (M&A) activity in the Asia-Pacific insurance industry slowed in the third quarter, according to analysis from ratings agency S&P Global.
Japan-based insurer Tokio Marine Holdings has completed its acquisition of Ignyte Insurance's US collector vehicle insurance agency, the firm announced in a 4 November press release. The transaction was executed through its wholly owned subsidiary, Philadelphia Insurance Companies (PHLY), for $615m.
Egypt Kuwait Holding (EKH) has announced the completion of the sale of its entire 63.39% stake in Delta Insurance to Morocco's Wafa Assurance, under the latter's mandatory tender offer.