Dutch financial services group ING plans to sell its remaining stake of around 5 percent in South Korea’s KB Financial Group Inc., a deal valued at up to $675 million, IFR reported on Thursday. ING is looking to divest several …
Ascent Underwriting, a specialist Managing General Agent (MGA) providing coverage for emerging cyber risks, has been launched in London, targeting clients ranging from micro businesses to international corporations. The bulletin said “Ascent will be working with London Market brokers providing …
Pinnacle, Schumann Walnut Creek, Calif.-based Pinnacle Brokers Insurance Solutions Inc. has merged its operations with E M Schumann Risk. The change took effect on February 1. Ed Schumann has become part of the ownership and management team at Pinnacle. He …
Lockton announced that it has expanded its operations on Australia’s East Coast with the acquisition of niche insurance brokerage firm Strategic Insurance & Risk Solutions, owned by insurance industry leader Colin Smith. Terms of the agreement were not disclosed Lockton …
China has approved the sale of HSBC’s remaining $7.5 billion stake in Ping An Insurance to a group controlled by Thailand’s richest man, giving the green light to the country’s biggest inbound M&A deal. Ping An announced the approval in …
Jardine Lloyd Thompson (JLT) Malaysia announced that it has acquired Insfield Insurance Brokers Sdn Bhd, one of the country’s major insurance brokers. The terms of the deal were not announced. “Over the years, Insfield has built a highly regarded business …
Willis North America Willis North America, a unit of global insurance broker Willis Group Holdings, has relocated its Cleveland, Ohio office to 1001 Lakeside Ave., Suite 1600. Willis established a presence in Ohio more than 30 years ago. Willis of …
ACORD, DISA ACORD (Association for Cooperative Operations Research and Development), the nonprofit global data standards organization for the insurance industry, and DISA (Data Interchange Standards Association), the organization for development of healthcare and cross-industry e-commerce business interchange standards, said that …
Caldwell and Partners, Midlands Holding Corp. Oklahoma-based Caldwell and Partners Inc. (CAP) acquired Midlands Holding Corp. (MHC) from PMA Capital Corp. (PMA). Midlands Management Corp. (Midlands) is a managing general agent and excess and surplus lines broker that also operates …
Brazilian-Swiss bank Safra and a Chinese bank are among the three bidders for Generali SpA’s Swiss private bank, BSI, in a deal worth€ 2 billion ($2.668 billion) that could help the Italian insurer shore up capital levels, two people familiar …
