EC Insurance Company Ltd. (ECIC), the specialist insurer for the contracting market, has begun the process of transferring business over to Markel International Insurance Co. Ltd. (MIICL), following ECIC’s acquisition by Markel in November 2017. Sevenoaks, England-based ECIC provides insurance …
Brussels-based insurer Ageas on Dec. 29 completed the sale of its stake in Italian bancassurer Cargeas Assicurazioni (CARGEAS) to BNP Paribas Cardif, for €178 million (US$213.6 million) in cash. Ageas and BNP Paribas Cardif have operated CARGEAS as a joint …
Randall & Quilter (R&Q) announced it has acquired Constantia Insurance Co. (Guernsey) Ltd., a captive company now in run-off, from Old Mutual plc. Regulatory approval for the acquisition has been granted and Constantia will be amalgamated into Capstan Insurance Company …
Fairfax Financial Holdings said it has successfully sold a Singapore insurer to Japan’s Mitsui Sumitomo Insurance Co. for US$1.6 billion.The deal between the Toronto, Canada-based P/C insurance, reinsurance and investment management holding company, and Mitsui Sumitomo involves the sale of …
UnitedHealth Group Inc said on Friday [Dec. 22] it signed a definitive agreement to buy Chilean healthcare company Banmedica SA for $2.8 billion, expanding the health insurer’s footprint in South America. Banmedica operates health insurance, clinics and other services. UnitedHealth …
Zurich Insurance Group announced it has purchased 100 percent of the shares of Bright Box HK Ltd. and its subsidiaries – an acquisition designed to increase its capabilities in connected car technologies and telematics-enabled data analytics. Financial details of the …
Allianz X, the digital investment unit of the Allianz Group, announced a $96.6 million investment in BIMA, the digital microinsurer. Stockholm-based BIMA uses mobile technology to serve low-income customers in Africa, Asia and Latin America. With its investment, Allianz becomes …
U.S.-based global specialty insurer The Navigators Group has agreed to purchase all of the shares of Assurances Continentales – Continentale Verzekeringen NV (ASCO) and Bracht, Deckers & Mackelbert NV (BDM), specialty insurers based in Antwerp, Belgium. ASCO is a specialty …
Global Aerospace, the London-based provider of aerospace insurance, announced that Munich Re has agreed to purchase an additional 11 percent of the shares in Global Aerospace Underwriting Managers Ltd., the company that manages the Global Aerospace Pool. Following the acquisition, …
Zurich Insurance Group AG’s decision to acquire the life-insurance businesses of Australia & New Zealand Banking Group Ltd. should help Switzerland’s biggest insurer fulfill its ambition to increase its dividend. Already famous as a dividend stock, Zurich signaled last month …
