FWD Group Secures Majority Stake in FWD Takaful Berhad with Latest Investment in Malaysia

FWD

Insurance major FWD Group Holdings Limited has announced the completion of an additional investment in FWD Takaful Berhad, acquiring a further 21 percent stake and becoming the majority shareholder with a 70 percent holding. This development sees the Employees Provident Fund retaining a 30 percent stake, while JAB Capital Berhad exits its shareholder position following … Read more

Insurtech Sunday Ins Holding Acquires Indonesia’s PT KSK Insurance

Sunday Ins

Sunday Ins Holding (Sunday), a key player in Southeast Asia’s insurtech landscape, announced the successful acquisition of PT KSK Insurance Indonesia, following approval from Indonesia’s financial services authority, Otoritas Jasa Keuangan. This strategic move positions Sunday as one of the region’s largest fully licensed insurtech groups in the two biggest general insurance markets, with revenues … Read more

Oona Insurance buys out JV partner in the Philippines

Oona Insurance

Insular Life (InLife) and Oona Insurance group (Oona) today jointly announced that they are entering into an agreement, with InLife selling its 40% stake in their non-life insurance joint venture, Oona Insular Insurance Corporation (Oona Philippines), making it Oona’s fully owned subsidiary. Oona Philippines and Insular Life will continue their cooperation arrangements to cross-sell insurance … Read more

Aon set to acquire Global Insurance Brokers, strengthening its foothold in India

Global professional services firm, Aon plc (NYSE: AON), announced its intention to acquire the prominent Indian company, Global Insurance Brokers. The acquisition, which is pending regulatory approval, is expected to amplify Aon’s risk capital capability in the burgeoning Indian market. Global Insurance Brokers, established in 1973, boasts a reputable legacy in India. As a composite … Read more

Insurtech Zinnia acquires digital marketplace Policygenius

Zinnia, a company specializing in life and annuity insurance technology and digital services, has announced its acquisition of Policygenius, a digital insurance marketplace. The acquisition paves the way for the first front-to-back architecture in the insurance industry, allowing for better service to carriers, advisors, and policyholders. The acquisition expands Zinnia’s reach into digital distribution solutions, … Read more

Ageas to streamline European portfolio with French business sale to Carac

International insurance group Ageas has announced the sale of its French life insurance, savings, and pension business to La Mutuelle Epargne Retraite Prévoyance Carac (Carac), following consultation with employee representatives. The divestment includes Ageas France, Ageas Retraite, Ageas Patrimoine, and Sicavonline, with a consolidated perimeter representing IFRS technical provisions of EUR3.9 billion and an IFRS … Read more

Malaysia-listed AEON Credit gets central bank’s nod to buy Insurepro

AEON Credit Insurepro

AEON Credit Service, a listed consumer finance company, announced that it has obtained approval from Bank Negara Malaysia to acquire 100% interest in insurance and takaful broking firm Insurepro for RM1.7 million. The shares sale is expected to be completed by the end of October 2021, with Insurepro joining AEON Credit as a wholly-owned subsidiary … Read more