Gains on a relatively high allocation to Indian equities carried the year’s earnings, though the same holdings expose the reinsurer’s balance sheet to market risk.
The insurer is pursuing acquisitions through Singlife as it seeks to build scale across Southeast Asia, with Thailand, Malaysia and the Philippines also identified as potential growth markets.
The government revived the blocked proposal, maintaining that the resulting savings are needed to expand aged care capacity and support older Australians.
Fairfax said Digit and IIFL Capital would retain their existing management teams while gaining access to IDBI Bank's customer base and distribution network.
The partnership adds Peak Re to GAIP's expanding network as the platform works to address protection gaps across the region through greater industry collaboration.
