General Re, a unit of Warren Buffett’s Berkshire Hathaway Inc, is interested in buying South Korea’s Tong Yang Life Insurance to tap into the promising market, South Korean media reported on Wednesday. Tong Yang’s majority stakeholder Vogo Fund is seeking …
The QBE Insurance Group announced that it has agreed to acquire Optima Insurance Group, an underwriting group in Puerto Rico that posted an estimated $100 million in gross written premium in 2011. QBE said the “transaction includes Colonial Insurance Agency, …
In a brief statement, issued by its office in Dublin, Beazley plc confirmed that it is to undertake a strategic review of the business of Hardy Underwriting Bermuda Limited. The statement followed the announcement by the board of Hardy on …
Tokio Marine said on Wednesday it will buy U.S. insurer Delphi Financial Group for $2.7 billion, the latest in a string of deals by Japan’s second-largest property-casualty insurer aimed at growing outside its mature home market. Tokio Marine said it …
Insurance Australia Group Limited announced that its 49 percent-owned Malaysian associate, AmG Insurance Berhad, “has submitted for local regulatory review a proposal to enter into an agreement to acquire Kurnia Insurans (Malaysia) Berhad (Kurnia), the principal general insurance business of …
Russia was admitted into the World Trade Organization on Friday after 18 years of negotiation, finally binding it into the global economy two decades after the Soviet Union collapsed. Russia’s $1.9 trillion economy was the largest outside the WTO, and …
Insurance Australia Group Limited (IAG) announced it had entered into an agreement to purchase the AMI insurance business for NZ$380 million (approximately A$288 million [US$287.96 million), enhancing its position as New Zealand’s leading general insurer. IAG’s bulletin noted that the …
The Liberty Mutual Group announced that its provincial branch in Guangzhou, Guangdong Province in China has “commenced operations and issued its first insurance policy on December 2, 2011.” Liberty received the approval for the branch from the China Insurance Regulatory …
Hub International is expanding into the Latin American market as the result of a merger agreement with Brazilian broker Harmonia Corretora de Seguros Ltd. The deal marks the first expansion for Hub outside the U.S. and Canada. The agreement makes …
Willis Italy, a unit of Willis Group Holdings, announced the acquisition of Broking Italia SRL, a long-established specialist in the Italian insurance market, founded and currently headed by Gianfranco Agostini and Daniela Andreussi. Terms of the transaction were not announced. …
