Asia Pacific insurance M&A

Insurance M&A.

Coverage, analysis, and market impact across APAC insurance.

Features and key stories

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HSBC confirms review of Singapore life insurance arm

Australia’s Steadfast gets A$7.7bn takeover offer from Amwins, Dragoneer

Joint bid values Steadfast at A$7.7bn (approx. US$5.41bn), with an eight-week due diligence period underway.

Softbank's PayPay to acquire 70% stake in T&D Financial Life for US$840m

The transaction would give PayPay a direct foothold in Japan’s life sector and create new cross-selling options with its existing customer base.

Thailand's OIC puts insurers at centre of resilience push as risks and costs rise

The regulator is reshaping the insurance market through a five-year plan that extends regulatory reach to entire corporate groups, tightens capital standards, and pushes insurers to close the country's...

South Korea's DB Insurance completes US$1.65bn acquisition of Fortegra

Fortegra will operate independently under its existing leadership as the two companies target growth across the US, Europe and Asia.

Australia and New Zealand lead APAC insurance M&A in Q1 as India activity slows

Cross-border expansion by global insurers underpinned Asia-Pacific insurance M&A in Q1 2026, with a rebound in Australia and New Zealand.

MNRB to acquire remaining 80% of Labuan Re for US$100m

The deal will lift the group's ownership of Labuan Re to 100% and is slated to be completed by the fourth quarter of 2026.

Prudential to acquire 75% stake in India’s Bharti Life for US$389m

The deal is expected to require Prudential to cut its stake in ICICI Prudential Life to below 10%.

Marsh to acquire ENEOS insurance units in Japan

The broker will acquire ENEOS Insurance Service and ENEOS Material Trading from the Japanese energy group, with closing expected in Q3 2026.

New MGA regime flagged as last-mile growth lever for India’s insurance market

Newly recognised MGAs can bind policies and underwrite risks locally, offering a faster route to regional and niche product growth in India.

Zurich seals US$10.9bn bid to buy Beazley

Following a series of failed bids, Zurich has now agreed terms to create a specialty insurance business with about US$15bn in annual gross written premiums.

QBE to take sole ownership of India's Raheja QBE in US$35.4m buyout

The move, subject to IRDAI approval, follows 18 years of the Group's joint ownership of the insurer with Prism Johnson Limited.

Zurich Australia to acquire ClearView in A$415m deal

ClearView’s board has unanimously backed the deal, with completion expected in the third quarter of 2026, pending regulatory approval.

Swiss Re Corporate Solutions to acquire QBE’s global trade credit and surety business

The deal will add about US$200m in annual revenue to Swiss Re Corporate Solutions’ portfolio.

Sompo receives regulatory green light for US$3.5bn Aspen acquisition

The deal, expected to close in the coming days, will see Japanese insurer leverage Aspen’s Lloyd’s syndicate and capital markets platform to boost its international growth strategy.

Japan and India buck regional slide as Asia-Pacific insurance dealmaking declines further in 2025

With only two $1bn-plus transactions all year, buyers shifted toward smaller, distribution-led plays and selective cross-border bets.

Zurich and Beazley reach agreement in principle on possible £8bn takeover

Beazley’s board says it is inclined to recommend Zurich’s latest cash offer, subject to due diligence and regulatory approvals.

Prudential to lift stake in Malaysia life unit to 70% in US$375m deal

The deal, which already has regulatory approval, will raise Prudential’s stake by 19%.

Beazley board unanimously rejects Zurich bid, says offer 'materially undervalues' company

Lloyd's carrier says that latest offer was lower than a previous June 2025 proposal made by Zurich.

Zurich bids for Beazley in deal valuing specialty insurer at £7.7bn

Zurich says it made an approach earlier this month that Beazley rejected, and has returned with an improved bid to "facilitate prompt engagement."

HSBC confirms review of Singapore life insurance unit

The business says it will "consider all options" for the insurance arm, but that no decision had been made.