Industry M&A – (Re)in Asia

Category: Industry M&A

woori-to-acquire-tongyang-and-abl-life-from-chinas-dajia-insurance-group-report

Woori Financial signs MoU to acquire Tongyang and ABL Life Insurance - report

August 6 2024

Woori is now conducting due diligence on potential acquisition which would see it become the sixth largest life insurer in South Korea.

korean-life-and-non-life-insurers-struggle-to-finalise-mampa-deals

High valuations stall insurance industry M&A in Korea

August 2 2024

The country’s life and non-life M&A market continues to stagnate despite broader economic deal-making activity.

Suncorp transitions to dedicated trans-tasman insurer following completion of bank sale

July 31 2024

The AU$4.9bn (US$3.2bn) sale to ANZ means the group can deliver greater value to its customers and shareholders, said Group CEO Steven Johnston.

ardonaghs-bid-to-acquire-psc-is-apacs-largest-insurance-mampa-deal-in-q2

Ardonagh's bid to acquire PSC is APAC's largest Q2 insurance M&A deal

July 26 2024

ANZ dominates M&A activity in Q2, highlighted by AU$2.26bn (US$1.49bn) acquisition of Australia's PSC Insurance.

Allianz will need to justify purchase price of Income Insurance: Analysts

July 24 2024

Deal aligns with German insurer's strategy and will increase Asia revenue by 53%, but analysts say purchase price seems steep.

income-insurance-and-allianz-in-talks-over-potential-deal

Allianz's acquisition of Income unlikely to alter Singapore market says Fitch

July 22 2024

Income's market-leading position in non-life market will be strengthened, but life segment will continue to be dominated by established players, says Fitch.

Proposed sale of South Korea's MG Non-Life Insurance fails for third time - report

July 22 2024

Sale halted once more after failing to secure concrete interest from enough bidders.

allianz-makes-offer-to-acquire-majority-stake-in-singapores-income-insurance

Allianz makes offer to acquire 51% stake in Singapore's Income Insurance

July 17 2024

Allianz announces pre-conditional voluntary cash offer to acquire at least 51% of Income Insurance, valuing transaction at SGD 2.2bn (US$1.64bn).

Steadfast and AUB enter AM Best’s top 20 global insurance brokers

July 15 2024

The two Australian brokers debut in 17th and 18th by revenue in 2024 rankings, while Gallagher leapfrogs WTW into third.

ocbcs-increases-stake-in-great-eastern-to-93-52-at-close-of-offer

OCBC increases stake in Great Eastern to 93.52% at close of general offer

July 13 2024

Stake below 98.87% threshold for compulsory acquisition, but OCBC said it will not take steps to maintain public listing if free float requirements are unmet.

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