Japanese general insurance giant Tokio Marine has paused the sale of its $1bn Southeast Asia life insurance business, partly due to a dispute with a Malaysian partner over an expiring bancassurance agreement, four sources with knowledge of the matter said.
Singapore's lawmakers passed a new law on 16 October, granting the the Minister-in-charge of MAS to have powers to consider the views of the Community Minister in approval processes for deals involving an insurer that is either a co-operative (Co-op) or linked to a Co-op.
The Competition Commission of India (CCI) has announced that it has approved the proposed acquisition of 24.91% shareholding in Future Generali India Insurance (FGIICL) and 25.18% shareholding in Future Generali India Life Insurance (FGILICL) by Mumbai-headquartered Central Bank of India (CBI).
Specialist Risk Group (SRG), a fast-growing specialist insurance intermediary, majority-owned by Warburg Pincus and Temasek, has announced its launch in Asia Pacific, marking its expansion into the region.
The Singapore government has decided that it would not be in the public interest for the proposed S$2.2bn ($1.68bn) sale of a stake in Income Insurance to global insurer Allianz, in its current form, to proceed.
Public Bank, among Malaysia's top three banks, has entered into a conditional sale and purchase agreement with the Estate of the Late Tan Sri Dr Teh Hong Piow and Consolidated Teh Holdings (ConTeh) to acquire a stake in LPI Capital.
The Ardonagh Group, a multi-national independent insurance broking platform, confirms it has completed the acquisition of PSC Insurance Group.
Shareholders of Shin Kong Financial Holding and Taishin Financial Holding have voted to merge their two groups, that would create Taiwan's fourth-biggest financial services group.
Prudential has reached an agreement to acquire the remaining shares of Prudential Zenith Life Insurance Limited (PZL), its joint venture business in Nigeria, leading to 100% ownership of the latter.
NN Group of The Netherlands has reached an agreement to sell its Turkish operations, consisting of life insurance and pension business, to Zurich Türkiye.