The Indian government has proposed to offload a stake of about 6.8% in General Insurance Corp of India (GIC), an exchange filing showed on Tuesday. The sale will made at a floor price of 395 rupees per share, as per the...
Medi Assist acquires Fairfax-backed Paramount TPA for Rs 312 crore
Medi Assist, India’s largest third-party administrator (TPA) on Monday said its wholly-owned subsidiary Medi Assist TPA has signed definitive agreement to acquire FairFax Asia-backed Paramount TPA for Rs 311.8...
Allstate to sell its employer voluntary benefits business to StanCorp Financial in $2 bln deal
Insurer Allstate has agreed to sell its subsidiaries that provide employer voluntary benefits to StanCorp Financial Group (The Standard) in a $2 billion cash deal, the company said in a regulatory filing on Tuesday. The...
Japan’s Meiji Yasuda buys Allstate’s voluntary benefits business for $2 bln
U.S. casualty insurer Allstate has sold its employer voluntary benefits business to StanCorp Financial Group for $2 billion in cash, Allstate announced, on Tuesday. StanCorp’s Japanese parent company, Meiji Yasuda...
Govt considers shedding up to 5 percent stake in LIC in this fiscal: Report
The government may consider selling up to 5 per cent stake in the state insurer Life Insurance Corporation (LIC) this financial year in order to meet the minimum public shareholding (MPS) norm, Business Line reported...
Insurer Ryan Specialty strikes up to $1.48 bln deal for US Assure
Insurer Ryan Specialty said on Thursday it has agreed to buy specialized builder’s risk insurance firm US Assure Insurance Services of Florida. The deal includes a cash payment of about $1.08 billion and an...
BNP Paribas in talks to buy AXA Investment Managers for 5.1 bln euros
BNP Paribas is in exclusive talks with French insurer AXA to buy 100% of its AXA Investment Managers arm at an agreed price of 5.1 billion euros ($5.50 billion), the euro zone’s biggest bank said on Thursday. For...
Allianz to buy majority stake in Singapore’s Income Insurance
German insurer Allianz said on Wednesday that it was planning to buy a majority stake in Singapore’s Income Insurance for about $1.6 billion to strengthen its foothold in Asia. The offer by Allianz, one of...
Allianz plans to buy majority stake in Singapore’s Income Insurance
Germany’s Allianz said on Wednesday that it was planning to buy a majority stake in Singapore’s Income Insurance for around $1.6 billion. Allianz said it would offer 40.58 Singapore dollars per share for a...
German Allianz to invest in China’s mega pension company with 2% stake
Allianz Global Investors (AGI), one of the investment arms of German insurer Allianz, has become the first foreign company to own a stake in China’s pension insurance giant Guomin Pension. AGI was allowed to...
Zurich Insurance completes acquisition of 70% Kotak Mahindra General Insurance stake in a ₹5,560-crore deal
Zurich Insurance Company Ltd has completed the acquisition of a 70% stake in Kotak Mahindra General Insurance Company Limited. Zurich acquired a 70 per cent stake in Kotak General Insurance for ₹5,560 crore (USD 670...
Axis Bank acquires additional stake in Max Life Insurance subsidiary for ₹336 crore
Axis Bank has acquired additional equity shares of Max Life Insurance Company, a subsidiary of Max Financial Services, for ₹336 crore, the private lender announced on Wednesday. The bank’s board of directors...
