Barclays Africa to expand insurance business into Ghana
Barclays Africa Group (BAGL), one of South Africa’s ‘big four’ banks, is looking to expand its insurance business into Ghana, local media reports suggest.
M&A Deals
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Alliance Trust shares climb as merger talks revealed
Scottish-based investment firm Alliance Trust has announced it has entered talks with RIT Capital Partners on a merger of the two companies.
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Axa restructures, sells last UK operations to Phoenix
French insurance giant Axa announced the sale of the remaining parts of its UK business to the Phoenix Group on Friday, and unveiled a new-look global business structure from incoming chief executive Thomas Buberl.
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Santander, UniCredit fund management merger on hold
The long-delayed deal between Italy’s UniCredit and Spain’s Santander to merge their fund management businesses has hit a further roadblock, with the Italian bank now on the hunt for a new chief executive.
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Old Mutual Asset Management sale moves closer
Old Mutual is reportedly a step closer to selling its US asset management business, with the group’s board understood to support the deal.
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ANZ to sell $4bn life and pension units to boost capital
ANZ Banking Group is looking to sell its life insurance and pension product unit, valued at up to $4bn (£2.76bn, €3.6bn), say media reports.
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L&G buys £3bn UK annuity book from Aegon
Insurance giant Legal & General (L&G) has bought a £3bn ($4.3bn, €3.9bn) UK annuity portfolio from Dutch-headquartered life group Aegon.
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Amundi buys majority stake in Kleinwort Benson Investors
Oddo & Cie has agreed to sell Kleinwort Benson Investors to Amundi and the KBI management team.
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GAM to acquire London-based investment firm THS
Swiss fund manager GAM has agreed to acquire Taube Hodson Stonex (THS), a UK-based global equity investment firm.
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Zurich signs $135m deal to buy Malaysian Islamic insurer MAA
Zurich Insurance has signed a deal to buy Malaysia’s MAA Takaful for $134.6m (£92.7m, €117m), giving Europe’s fifth biggest insurer a foothold in the world’s second largest Islamic insurance market.
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Aviva’s closed offshore unit to be sold to consolidator LCCG
M&A firm Life Company Consolidation Group (LCCG) has agreed to buy Aviva Life International.
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Zurich enters takaful insurance with Malaysia’s MAA buy
Zurich Insurance is poised to buy Malaysia’ MAA Takaful after receiving regulatory approval.