Vietnam rolling out welcome mat for int’l life companies
The Vietnamese Government is planning to make it easier for international life insurance companies to operate in the local market, deputy prime minister Dinh Hue Vuong has said.
M&A Deals
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MassMutual Asia sold to investor group for $1bn
A finance firm set up by Alibaba founder Jack Ma has led the acquisition of Hong Kong-based MassMutual Asia by a group of regionally based investors.
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Standard Life Aberdeen creates £11bn investment giant
The formation of investment giant Standard Life Aberdeen has been finalised, the company confirmed on Monday.
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Aegon sells Irish and Dutch units as Cofunds boosts results
Dutch insurer Aegon is selling its Irish offshore bond operation and its Netherlands-based advice business, while a strong boost in earnings from platform Cofunds, according to its latest quarterly report.
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Sanlam expands adviser network with Tavistock takeover
Sanlam UK has acquired the advisory arm of Tavistock Investments, taking over its network of 158 advisers and adding £1.5bn ($1.95bn, €1.66bn) to Sanlam’s total assets under advice.
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Invesco rumoured to be in talks to buy US ETF provider
US-based investment manager Invesco is in talks to buy the asset management business of Guggenheim Partners, according to media reports.
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India’s Reliance Nippon Life eyes M&A for distribution push
Indian life company Reliance Nippon Life Insurance is looking to expand its distribution network through a series of takeovers of bank-owned life insurers, a top company official told analysts.
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Commonwealth Bank positions life business for sale
The Commonwealth Bank of Australia (CBA) is reportedly looking to sell its life insurance business but the move in not linked to recent regulatory changes requiring the country’s biggest banks to hold billions in extra capital.
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Ocorian expands fund services reach with Lux acquisition
Financial services provider Ocorian has agreed to buy MAS International, an independent fund administration company operating primarily in Luxembourg and Mauritius.
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Generali puts $50bn German life book up for sale
Italian insurer Generali has put its $50bn (£38bn, €44bn) closed book German life insurance unit up for sale as part of a worldwide restructure of its European operations, Reuters has reported.
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Prudential enters Nigeria with landmark acquisition
UK insurer Prudential is set to “redefine” the Nigerian life insurance industry after acquiring a majority stake in Zenith Life and forming exclusive bancassurance partnerships with Zenith Bank in Nigeria and Ghana.
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Zurich underlines commitment to Middle East after Cigna deal
Zurich’s Middle East business has said it will continue to sell life policies in the region following the sale of its general insurance unit to healthcare provider Cigna.