Afma Group aims to take full control of the local insurance broking company SAFE ASSUR with the acquisition of the remaining 49% of shares in the latter that it does not already own.
Yallacompare, the UAE-based leading online insurance comparison platform company, has joined COMIN Insurance to form the largest InsurTech group in the region.
Although claims frequency in Asia for merger and acquisition (M&A) deals are still lower, as compared to more mature regions, there has been a steady rise in the rate of notifications across Asia with insureds becoming more aware of their claims entitlements as well as the benefits of commencing the claims process early and in accordance with the claims notification requirements.
Howden has acquired a 68.3% stake in Japanese retail insurance broker, Holos Holdings.
Mergers and withdrawals from the Omani insurance market have reduced the number of insurers currently in it to 17 from 23 in 2011, according to a report released last month by the International Association of Insurance Supervisors (IAIS).
Tencent and Taikang Insurance Group have signed a new comprehensive strategic cooperation agreement to further advance digital transformation in insurance and healthcare services. According to local media reports, the agreement was formalised on June 27 at Shenzhen Qianhai Taikang Hospital.
The adoption of deal insurance continues to accelerate as acquirers (and vendors) race to offset risk in an increasingly uncertain dealmaking environment, according to a survey commissioned by the global law firm Norton Rose Fulbright.
With the pending acquisition of Resolution Life by Nippon Life, and its eventual merger with Acenda, several independent non-executive directors have been appointed to the board of the Acenda Group, according to news platform Financial Newswire. Namely, they are Ms Catherine Dubé, Mr David Stephen, Ms Melissa Babbage and Ms Rosheen Garnon.
Arabia Insurance Cooperative Company (AIC) and United Cooperative Assurance Company (UCA) have announced that they are considering a potential merger.
United Risk has completed the acquisition of Sydney based Pinnacle Underwriting and thus expanding and strengthening its operations in the Asia-Pacific and Middle East regions in major lines of business.