The broker group has announced its expansion into the US insurance market following an agreement to acquire ISU Group, one of the largest independent insurance agency networks in America.
Founded in 1973, Global Insurance Brokers is a composite broking firm which delivers risk management, insurance, and reinsurance broking services throughout India.
The US$830m investment aims to capitalise on China's growing elderly care sector, but comes at a time when the segment is undergoing regulatory change and increased scrutiny.
The introduction of the new accounting standard has led to a sharp increase in reported profits, particularly for P&C insurers —leading to concerns about valuations.
Evergrande Life Insurance's business, assets, and liabilities are transferred to new, state-owned entity, Haigang Life Insurance, in a move widely seen as being part of liquidation efforts.
Apex Insurance New Zealand was founded in 1999 and has grown to become one of NZ's largest privately-owned insurance brokers, serving the mid-market and SME segment.
OnePath and Zurich have jointly submitted an application to the Federal Court of Australia, with the expected completion of the transfer projected for December 1, 2023.
