Saudi Enaya Cooperative Insurance Company (Enaya) and Salama Cooperative Insurance Company (Salama) announced yesterday that the General Authority for Competition has issued a no-objection to a proposed merger between the two insurance companies.
AM Best has placed under review with developing implications the Financial Strength Rating of 'B' (Fair) and the Long-Term Issuer Credit Rating of 'bb' (Fair) of Arabia Insurance Company - Jordan (AICJ).
Mergers and acquisitions (M&As) are expected to pick up again in the Saudi insurance market, following the recent cooling down of such activities, according to insurance sector expert Adel Al Eisa.
Halliwell, a forensic and technical consultancy, has expanded its services in APAC following the acquisitions of IMPARTA Engineers, an insurance-focused technical engineering and structural diagnostics consultancy, and asset purchase of du Chateau Chun, a firm of specialist building regulation, code and compliance advisors.
Global reinsurance broker Gallagher Re has acquired Nongxin Insurance Brokerage, a Beijing-based insurance broking firm. The acquisition is part of a Gallagher Re's broader commitment to, and investment in, the APAC region.
AXA Egypt Investment has decided to withdraw its offer to acquire shares of Delta Insurance Company, according to an announcement made by the Financial Regulatory Authority (FRA).
London-headquartered BMS Group, an independent global insurance and reinsurance broker, has expanded its presence in the Turkish market with the acquisition of Istanbul-based Oria Sigorta ve Reasurans Brokerligi.
Aon and Moody's Insurance Solutions have announced the expansion of their reinsurance casualty collaboration into commercial risk.
Hollard International (HINT), Johannesburg-headquartered Hollard Group Insurance's international business, has taken a bold step forward in its Africa growth strategy with the successful completion of two major acquisitions -- one of Global Alliance Seguros in Mozambique and the other of Absa Life Botswana.
bolttech yesterday announced its partnership with Sumitomo Corporation, one of Japan's largest trading houses. The two companies will enter a joint venture to deliver technology-enabled embedded solutions to distribution partners across a number of markets in Asia.