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Aviva to sell Friends Provident to RL360 for £340m

IBR Staff Writer Published 20 July 2017 Aviva has agreed to divest its pensions business Friends Provident International (FPIL) to RL360 Holding for around £340m. The insurance giant says that it has come to a conclusion that FPIL is no longer a core business in the group following a strategic …

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China Oceanwide’s $2.7bn acquisition of Genworth faces regulatory delay

IBR Staff Writer Published 17 July 2017 The completion of China Oceanwide’s $2.7bn merger deal with Genworth Financial is likely to be delayed further, owing to a regulatory obstacle. In this connection, the two companies, have for the second time, withdrawn and re-submitted their joint voluntary notice with the Committee …

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MetLife to buy Logan Circle from Fortress Investment

IBR Staff Writer Published 10 July 2017 American insurance giant MetLife has agreed to acquire investment manager Logan Circle Partners from Fortress Investment Group’s for nearly $250m in an all-cash deal. The acquisition would also include the traditional fixed income asset management business of Fortress Investment. As a fundamental research-based …

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Exin to buy 75% stake in Ethniki Insurance from National Bank of Greece

IBR Staff Writer Published 30 June 2017 Netherlands-based Exin Financial Services has agreed to acquire 75% stake in Greek insurer Ethniki Hellenic General Insurance (Ethniki Insurance) from the National Bank of Greece (NBG) for €718m. The transaction is expected to result in a long-term partnership between Exin and NBG with …

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Hollard Insurance completes Regent Insurance acquisition

IBR Staff Writer Published 29 June 2017 South Africa-based Hollard Insurance Group has completed its R1.8bn ($140m) acquisition of Regent Insurance Group from Imperial Holdings. Regent’s business features insurance operations and investments in South Africa, Botswana, Lesotho and Zambia. Hollard expects the merger of Regent to consolidate its position of …

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Cinven’s acquisition of Eurovita gets EC approval

IBR Staff Writer Published 19 June 2017 Cinven Capital Management (V) General Partner Limited of Guernsey has secured approval from the European Commission (EC) to acquire Italian life insurance firm Eurovita Assicurazioni. The commission cleared the deal under the EU Merger Regulation after ruling out any violation of anti-competition laws arising …

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Singapore Life secures license to operate as direct life insurer

IBR Staff Writer Published 14 June 2017 Singapore Life has secured license from the Monetary Authority of Singapore (MAS) operate as a fully licensed direct life insurer. The new insurer claims to be the first wholly-owned local insurer since 1970 to have got the MAS approval to carry out business …

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CF Corporation to buy Fidelity & Guaranty Life for $1.8bn

IBR Staff Writer Published 26 May 2017 CF Corporation has agreed to acquire US-based insurance firm Fidelity & Guaranty Life (FGL) for around $1.83bn. Based in Des Moines of Iowa, FGL provides fixed indexed annuities and life insurance products to the customers in the US. Through its subsidiaries, the company …

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Allianz Life introduces new index variable annuity products

IBR Staff Writer Published 24 May 2017 Allianz Life Insurance Company of North America has introduced two new index variable annuity (IVA) products, which will offer several ways to benefit from the balance of performance potential and level of protection. The new products, Allianz Index Advantage ADVSM Variable Annuity and …

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Aviva acquires remaining 50% share in Vietnam joint venture

IBR Staff Writer Published 25 April 2017 Aviva has acquired its partner’s entire stake in its Vietnam joint venture, making the company a wholly owned subsidiary. Aviva bought VietinBank’s 50% stake in VietinBank Aviva Life Insurance, renaming it Aviva Vietnam. The transaction, which is still subject to regulatory approvals and other customary closing conditions, will simplify Aviva’s …

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