Industry M&A

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.

India may raise foreign direct investment cap further - report

July 9 2024

Authorities reportedly considering increasing FDI cap for insurers beyond the 74% set in 2021.

Hiscox shares surge amid reported takeover interest from Sompo and Generali

July 9 2024

Insurance Insider reports interest from Japanese and Italian firms, but a source tells Reuters that Generali has no plans to expand in Britain.

asx-listed-sequoia-financial-group-sells-insurance-broking-businesses-to-wib-corporate

ASX-listed Sequoia Financial Group sells general insurance broking businesses to WIB Corporate

July 4 2024

WIB Corporate, owned by former Steadfast director Cameron Bott, acquires two brokerages in a deal valued at up to AU$5m (US$3.35m).

Uncertainty surrounds Lotte Insurance sale following Woori withdrawl

June 30 2024

Lotte Insurance's stock dives, with financial conglomerate's bid withdrawal considered a major setback.

federal-treasurer-approves-sales-of-suncorp-banking-arm-for-au4-9bn

Suncorp's AU$4.9bn sale of banking arm gets final nod from Federal Treasurer

June 28 2024

AU$4.9bn (US$3.25bn) deal will help Suncorp focus on insurance challenges like climate change and affordability, says Suncorp CEO.

Woori to acquire Tongyang and ABL Life from China's Dajia Insurance Group - report

June 27 2024

US$2.2bn deal would see South Korean financial conglomerate pull out of other proposed acquisitions, including Lotte Insurance.

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